Do You Need Specialized Coverage for Historic or Older Commercial Buildings?

Owning a historic or older commercial building in Florida brings a sense of pride and unique character to your business. However, these properties often come with distinct insurance needs that differ from those of newer structures. We understand the challenges of protecting these valuable assets and are here to help you navigate your coverage options.

Why Historic and Older Buildings Need Specialized Insurance

Historic and aging commercial properties often feature original materials, unique architectural details and construction methods that are no longer standard. These factors can make repairs or restorations more complex and costly. Standard commercial property insurance may not fully address the higher replacement costs or the need to comply with preservation guidelines.

Some key considerations for insuring historic or older buildings include:

• Replacement cost coverage—Your policy may provide coverage for the true cost of restoring original features, not just modern equivalents.
• Ordinance or law coverage—This may provide protection if local building codes require upgrades during repairs.
• Preservation requirements—These address the need to use specific materials or techniques in order to maintain historical integrity.
• Increased risk factors—Older buildings may have outdated electrical, plumbing or roofing systems, which can increase the risk of damage.

Challenges in the Florida Market

Florida’s climate adds another layer of complexity. Hurricanes, flooding and humidity can all pose significant risks to older structures. Insurers may require additional documentation or inspections, and some standard policies may exclude certain types of damage common in the region.

How the Team at Bruening Insurance Agency, Inc Can Help

Protecting your historic or older commercial property requires expertise and attention to detail. Our team can:

• Assess your property’s unique risks and features
• Recommend tailored coverage options, including historic building insurance and ordinance or law coverage
• Guide you through the application and underwriting process
• Support you in meeting preservation and regulatory requirements

Contact us today to get started.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.