Cannot Get Insurance on old wood framed House?

• Dec 4, 2009

• #1

P

Point Blanks

Senior Member

I am having trouble getting insurance on an old (1920)wood framed house.Thinking of remodeling it but sure hate to invest 10k or more then something happen.

Talked with our car insurance guy (Allstate) and he wouldn't even come over to peep before saying no,he couldn't

Those of you that have older "shacks",how do you get insured?

Thx...

 

• Dec 4, 2009

• #2

ChiefOsceola

Senior Member

There are companies that'll do it. The Georgia Underwriting Association (assigned risk) will do it. It'll be basic coverage rather than special (most likely will exclude theft coverage)...and depending on sqft/insured amount, may be actual cash value rather than replacement cost...but they'll do it. All agencies have access to GUA if they want.

 

• Dec 4, 2009

• #3

secondseason

Retired Administrator

PM Sent.

ChiefOsceola is right. I would use GUA as a last resort though.

Auto Owners has less rigid guidelines.

 

• Dec 4, 2009

• #4

T

Twenty five ought six

Banned

Depending on condition you may not be able to get it insured, or at least not at any reasonable rates.

Two things in particular will affect insurability.

Is is permanently underpinned?

Condition and age of wiring.

 

• Dec 4, 2009

• #5

Milkman

Deer Farmer Moderator

Staff member

Farm bureau insurance has many old farm houses underwritten.

 

• Dec 4, 2009

• #6

ChiefOsceola

Senior Member

If you're remodeling though...you need a builders risk policy. You set the starting value and completed value after the renovations are complete. In addition to coverage on the structure, they also cover materials that are onsite for the remodel.

 

• Dec 5, 2009

• #7

RUTTNBUCK

Gone But Not Forgotten

Try Georgia Farm Bureau. That is who we have for our Homeowners policy...................We have a Pre 1920 wood frame farm house.

 

• Dec 9, 2009

• #8

T

tommyjoe

Member

Allstate & State Farm are in the bussiness to make money, not take risks. I got canceled by State Farm for 2 claims in 1 yr. First claim my car was in a accident and caught fire and burned, filed for my tools and personal items on my homeowners. Car only had liability. 2nd claim my outdoor shop caught fire from an overheated air compressor.
They paid the claims but then they canceled me at renewal time. I was blacklisted and nobody in the state would cover me. Got it through Ga underwriters which is very expensive. By the way my car was paid for and so was my house & shop.
Tom

 

• Dec 9, 2009

• #9

U

ugaof94

Senior Member

Is there a mortgage against the property or owned outright?

 

• Dec 10, 2009

• #10

skiff23

Senior Member

I have an agent that covers my new customers that have trouble. We do a lot of restorations on old houses , if you want her name eamil me. She will get it covered. She has written several policies for my clients and wound up trading for all there insurances. She is competetive and has good coverages.

 

• Dec 10, 2009

• #11

dpoole

Senior Member

FARM Bureau STINKS !!!!!!!!!!!!!!!!!!! TERRIBLE SERVICE IF YOU HAVE A CLAIM !!!!!!!!!!!!!!!!!!!!! I HATE FARM BUREAU !!!!!!!!!!!!!!