[MassHistPres] Homeowners insurance in Local Historic Districts

[rcsmitharch at verizon.net]

What insurance company was this?  If this is based on property values being
higher in historic districts, that's one thing, but the stated rationale is
pretty sketchy.  Sounds more like a company (or agent) with an axe to grind
about historic districts; might be something the state insurance commission
should look into.

 

Richard Smith

Swampscott Historical Commission

 

From: MassHistPres <masshistpres-bounces at cs.umb.edu> On Behalf Of Breger,
Benjamin
Sent: Wednesday, June 9, 2021 10:50 AM
To: masshistpres at cs.umb.edu
Subject: [MassHistPres] Homeowners insurance in Local Historic Districts

 

Dear List-serv,

 

A homeowner in one of Amherst's 2 Local Historic Districts has indicated
that when they recently changed to a new homeowners insurance company, the
local agent added a 12.5% premium to the insurance policy due to the home
being in a local historic district. This is the first instance of this I've
heard happening in Amherst and I wonder if others have had any similar
experience. If so, is there anything to be done? Luckily, this homeowner is
a strong proponent of the historic district designation, as are most of the
property owners in the districts but I worry that if higher insurance rates
become the norm, attitudes could change. 

 

The local insurance agent said, "since the house is part of the historic
district, repairs would have to be of such a nature that replacement costs
would be higher, thus the increase in annual fee." 

 

Curious if this is normal practice for insurance companies and this is just
the first instance in Amherst or if this is unusual?

 

Sincerely,
Ben

 

Ben Breger, Planner

AICP Candidate

Planning Department                       

Town of Amherst

 

413-259-3187 

bregerb at amherstma.gov <mailto:bregerb at amherstma.gov> 

 

 

 

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