When a historic property is damaged, most will not receive a flood of donations to restore it to its original state, like the Notre Dame cathedral did. In a recent Insurance Journal podcast, Distinguished Program’s own Kurt Meister, senior VP, discusses the Historic Properties Program and the challenges of bringing a historic structure back.
While most insurance policies cover restoring the function of a building, they do not cover replicating the original, often ornate, historic features that make these properties so culturally significant. Meister’s podcast delves into Certified Historic Appraisals and how historic replacement coverage operates without any insurance limits, so everything can be restored with the finest craftsmanship.
Meister challenges brokers to frankly ask their customers: What exactly will happen to your historic property if it suffers a loss? From lost income to bringing buildings up to code to tax credit coverage, Meister’s podcast is an informative listen for brokers and their clients who want a better handle on the nuances of historic restorations.