Question 1

Is homeowners insurance more expensive for historic homes in Marietta?

Accepted Answer

Yes, expect to pay 20-40% more than standard Ohio rates if you own a historic property. This reflects the higher cost of period-appropriate materials and specialized craftsmanship required for authentic restoration. However, well-maintained historic homes with updated electrical, plumbing, and HVAC systems may see smaller increases than properties with deferred maintenance.

Question 2

Does my homeowners policy cover flood damage in Marietta?

Accepted Answer

No, standard homeowners insurance excludes flood damage from river overflow, heavy rain, or snowmelt. Given Marietta's location at the confluence of the Ohio and Muskingum Rivers, you need a separate flood insurance policy through the National Flood Insurance Program or a private insurer. The average flood policy in Ohio costs about $1,309 annually, though your rate depends on your specific flood zone and elevation.

Question 3

What is extended replacement cost coverage and why do I need it?

Accepted Answer

Extended replacement cost coverage provides 25-50% more than your dwelling coverage limit to protect against unexpected restoration overruns. For a home insured at $300,000, this gives you up to $450,000 for rebuilding. Historic properties often encounter unforeseen complications during restoration—hidden damage, code upgrades, or difficulty sourcing period materials—making this extra cushion essential for avoiding out-of-pocket shortfalls.

Question 4

How much dwelling coverage do I need for a historic home?

Accepted Answer

Base your coverage on restoration cost, not market value or your purchase price. Get an appraisal from someone familiar with historic properties who can estimate what authentic restoration with period-appropriate materials would actually cost. Industry data shows standard coverage can fall $200,000 short of true restoration costs, so err on the side of higher limits rather than saving a few dollars on premiums.

Question 5

What is ordinance or law coverage?

Accepted Answer

This coverage helps pay for required building code upgrades when you repair or rebuild after a covered loss. Historic homes often need to be brought up to modern electrical, plumbing, or structural standards during major repairs, even if they were grandfathered in before. Without this coverage, you're responsible for these potentially expensive upgrades out of pocket.

Question 6

Should I choose replacement cost or agreed value coverage?

Accepted Answer

For historic properties, agreed value coverage is often better. It establishes upfront what your insurer will pay for a total loss, eliminating disputes about actual cash value after a disaster. Guaranteed replacement cost coverage also works well, ensuring you can rebuild with historically accurate materials regardless of cost increases. Both options provide more certainty than standard replacement cost coverage.

Insurance Agents in Marietta, Georgia (GA)

Insurance agencies serving Marietta

Abbey Insurance Of Marietta

Atlanta Insurance Agency, Inc

Insurance Agents in Marietta, Georgia (GA)

Insurance agencies serving Marietta

Abbey Insurance Of Marietta

Atlanta Insurance Agency, Inc

Atlanta Premier Insurance Agency

Biltmore Insurance Services, LLC

Buena Vida Insurance

Continuity Risk Partners

Excel Insurance INC

Excel Insurance INC

M4 Insurance Agency

Magnolia Insurance Agency, LLC

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