Insurance cancelled on century-old farmhouse. What are the alternatives now?

[ponytug]

You are in a tough spot, sorry. Check with the state for the pool insurance and see what you think. It might be possible to insure the orchard and ranch aspects separately as commercial insurance. Fire, earthquake, and replacement value are going to be very tough to get.

With last years fires, many insurers are heading for the exits for awhile, just like post Loma Prieta. Too many liabilities and too many unknowns to forecast well, avoiding which is the essence of insurance.

I once helped jack up an old 1730ish cabin and helped rebuild it. It all depends on what you are up for with adventure and cost, and I can understand that it might be more than you want to take on. The cabin got done over five years or so with lots of volunteers, and ended up gorgeous.

Knob and tube isn't necessarily unsafe. It depends on the insulation and whether it was done well.

All the best, Peter

 

[CalG]

Why does such a structure need insured?

Liability yes. Coverage? I say no.

 

[Diggin It]

Fence the house and keep the fence locked. Insure the property and vehicles, etc. with the house excluded.

 

[ning]

Why does such a structure need insured?

Liability yes. Coverage? I say no.

Agree here.
You should check if you can get a liability-only policy.

 

[California]

You are in a tough spot, sorry. Check with the state for the pool insurance and see what you think. It might be possible to insure the orchard and ranch aspects separately as commercial insurance. Fire, earthquake, and replacement value are going to be very tough to get.

With last years fires, many insurers are heading for the exits for awhile, just like post Loma Prieta. Too many liabilities and too many unknowns to forecast well, avoiding which is the essence of insurance.

I once helped jack up an old 1730ish cabin and helped rebuild it. It all depends on what you are up for with adventure and cost, and I can understand that it might be more than you want to take on. The cabin got done over five years or so with lots of volunteers, and ended up gorgeous.

Knob and tube isn't necessarily unsafe. It depends on the insulation and whether it was done well.

All the best, Peter

Thanks for the comments. Looks like the expensive Pool is the only alternative, if I keep the existing farmhouse. Insuring house and business separately sounds like its worth exploring.

Knob & Tube was an insurance disqualifier, but its not troublesome so far as I can see so long as its not disturbed. Bend a wire and the insulation crumbles off.

Lots of volunteers and five years, I wish. I have neither. I'm beginning to seriously consider putting a manufactured home on this 14 x 50 footprint to make my elder years easier.

 

[California]

If Pool (assigned risk) coverage is expensive and basically insures nothing, ie would pay 'Depreciated Value' (zero) in the case of a loss, then I will go for liability only. Liability is the only part I consider essential.

 

[Diggin It]

While you're looking around, ask if anyone will insure it as an outbuilding or storage building for a reduced rate ... roughly what it could cost to put a manufactured place on it if lost.

 

[California]

Something just occurred to me ... If I can afford to self-insure (I can), then I can afford the increased cost of a Pool (assigned risk) policy. I'm now thinking of that excess cost as a fee for maintaining continued use of this non-standard antique I have here.

My thinking may change. This is all new to me and I'm exploring choices.

 

[Slowpoke Slim]

Can you look into getting it registered as a historical site? If it's predominantly as it was 100 years ago, maybe it holds a historical value as a pre-war or pre-depression era American farm operation?

Else I would just worry about getting liability insurance on the farm operation side and leave it at that.

 

[MossRoad]

I understand the need for liability insurance. When my father passed away, the insurance company would not renew if no one was living in the house. They were more worried about the liability of the 90' escarpment in the back yard than the cost of the structure. We had to get a high cost liability policy that was something like $2500 every 6 months.

As for the sentimentality of the house, if your dad said tear it down, that should relieve you of any guilt should you go that route. Our father encouraged us to sell his house, as it was an architectural experiment that he built for proof of concept and testing different building techniques. That eased my mind quite a bit VS trying to justify keeping it for sentimental reasons.