(Note: the following information is taken from an Insurance Bureau of Canada publication. This is provided as information only; Heritage BC does not substantiate its contents.)
Insurers look for well-maintained properties with good claims records. Whether you are buying or renovating a heritage home, you can mitigate risk. Consider the following.
When a Heritage Property Is Damaged
After a loss, your insurer determines the replacement cost or what it will cost to rebuild your property. Determining the replacement cost may be challenging due to the property’s building materials, cherished features and historic significance. Factors that may affect replacement cost include:
Additional information is available here.