Many among the thousands of homeowners around the world see themselves living in a marvellous, restored home that was originally built a century or more in the past. While these homes are not widely available, there may still be some great opportunities to purchase an older home at a reasonable price, leaving funds available for repair and renovation. While this can be an expensive way to establish a family home, the atmosphere and pride of ownership might make it all worthwhile. In some cases, these older, restored homes have details in the woodwork, basic construction or windows, for example, which are not easily replaced if damaged or destroyed. For this reason, some of the traditional insurance companies write special policies that are a bit more expensive or decline to cover more elaborate homes altogether. Some insurance companies have, however, succeeded with plans written specifically for home renovation, both as the work is being done and as homeowner coverage on completion of the project.
There are several excellent companies that work almost exclusively with those who have historic homes or those who are contemplating the remodeling of an older home. Some of these are instruction/guidance groups that provide information and point homeowners in the right direction.