Risk Management

Anonymous has left a new comment on your post "New lessons learned":

"There are insurance companies which will not insure designated properties."

But will they insure "worthless relics"? 

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Well now, let me think about that.  

What do I know about insurance . 

Only what I am told. 

I think....if I were selling insurance...and quoting a premium...I would need to know the risk.

I'm not in business to lose money. 

 Insurance, generally speaking...is considered to be lucrative.

What would the risk  be to insure a worthless relic. Replacement  cost would be a factor.

If  insurance had to cover costs of heritage plans and hand millled  lumber and other materials
difficult to find and costly. I think premiums would be higher. If the cost of replacement could not be established, insurance might not be available.

On the other hand, if a structure was four walls and a roof ,enclosing x number of square feet of living space , worn out , badly designed , totally inadequte  and unsafe by modern standards .... basic .replacement value   and premiums could  easily  be calculated.

I think  an insurance company would likely  be willing to  insure  against replacement value. Providing of course the building wasn't an obvious fire waiting to happen.

Certainly comparable to "cookiecutter " designs disdainfully  referentced by passionate adherents to the principle of  surrendering property rights to red tape bureacratic process for the purpose of exercising control over anything and everything that might happen in a  neighborhood perceived to be exclusive based entirely on its age.

Even life cannot be insured beyond a certain age ,no matter how badly one might wish to leave a  little something for a  beloved grandchild.