BUILDING INSURANCE & RISK
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Insurance for Old Buildings

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What is an old building?

By insurance company standards, any building over 30 years old is suspect.  Arguably, if a building has not been tended to in 30 years, it will likely soon have an issue that could result in a claim.  The major building systems which are considered for age purposes are: roof, electrical, plumbing and heating & cooling (HVAC).  Underwriters are required by the companies they represent  to screen for updates.  No updates, NO COVERAGE.   

However, many companies refuse to recognize older well cared for buildings that have updates.  Some require the building undergo a “down to the studs” redo in order for consideration.

Fortunately, not all insurance companies are the same.  There are still those companies that are able to recognize the quality of construction, and the beauty of an older, well cared for building.  The good news is there are those companies you have never heard of that understand a well built, well cared for building that needs reasonable insurance.  
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If you own or are looking to purchase an older building, you need to be prepared to answer the underwriter’s questions and tell a story that makes the insurance company underwriter want to offer coverage.

To discuss in depth and find out how to best protect yourself, please click the button below to schedule a call.

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  • Home
  • About
    • Building Insurance Policy Review
  • Building Insurance
    • Insurance for Lenders
    • Insurance for Real Estate Developers
    • Property Insurance for Flipping Houses
    • Property Insurance Coverage for Buildings
    • Building Liability Insurance Coverage
    • Landlord Insurance
    • Builder's Risk Insurance
    • Blanket Property Insurance
    • Flood Insurance
    • Multifamily Property Insurance
  • Commercial Property Type
    • Apartment Buildings
    • Insurance for Old Buildings
  • Blog & Podcasts
    • Building Insurance Articles
    • All Podcasts
    • Podcast Highlights
  • Contact
    • Schedule a Call
  • Request A Quote
    • Schedule a Call