Darin Checchia, Regional Vice President of Adjusters International/Basloe, Levin & Cuccaro (AI/BLC), was recently interviewed by Insure.com regarding insurance coverage and claims on historic homes. In response to questions about how owning an historic home can complicate the insurance claims process, Checchia addresses the various challenges presented by actual reconstruction costs, building code upgrades, and historic registry requirements.
"One of the biggest issues when filing claims for historic homes is getting the insurance company to recognize the actual reconstruction costs of replicating what was lost, says Darin Checchia, regional vice president and senior professional loss consultant at Utica-based Adjusters International/Basloe, Levin & Cuccaro.
'Typically the craftsmanship, detail and type of materials that are used in historic properties are very rare, so to try to put that into dollars and cents and make sure that you're capturing the proper costs is extremely difficult. This is especially true in today's world where insurance companies are using software-based programs for estimating insurance claims. It's a huge, huge challenge to take modern-day software and spell out financially what it would cost to reproduce the characteristics of these historic properties,' says Checchia."
To read the full article "Insurance for Historic Homes" visit the Insure.com website. Insure.com is an independent consumer insurance website that provides a comprehensive array of insurance information to the general public.