Insuring heritage homes – how to break through the complications

“It’s not just heritage properties, it’s a lot of older properties that have older home systems,” he said. “Older homes that may not have knob and tube wiring, for example – if you’re a new home owner and you’re buying a home without knob and tube wiring, in many cases it’s going to be tough for you to get insurance.

“You may plan on getting the electrics updated, but you’re in a chicken and egg situation in that many insurance providers don’t want to give you the insurance until the electrics are updated. You can’t update the electrics until you’re in the home – and to get into the home you need insurance, otherwise your mortgage funds aren’t going to be released.”

Square One Insurance and others provide coverage for heritage properties based on designation and offer a temporary cover for homeowners who are upgrading their electrics and re-evaluating their home policy afterwards, Mirkovic said.

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