September 09, 2006
Protect Your Antiques
Did you know that there was a specific policy designed for older homes with historic value? Most people don’t, and that’s where the problem lies. Most of us don’t know that we need home insurance and even if we do, we think that the general policy is enough to cover all our requirements. The insurance market today is a very sophisticated one and offers different types of coverage to suit almost all kinds of requirements. Getting back to the historic home, if you live in such a house, don’t go in for a regular kind of cover and find out if your insurer offers this policy.
Coverage includes protection from basic disasters like aircraft, wind/hail, explosion, riots/civil unrest, fire/lightning, vehicles, volcano eruptions, vandalism, theft, smoke, and self-damaging instances. Under this plan, coverage is limited to repairs or cash values of the items involved. The rebuilding/replacement cost is not covered in this, because some aspects of the home (historic significance) can make these costs higher than current market value.
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