The best home insurance for older homes comes from the carriers willing to write knob-and-tube wiring, galvanized plumbing and a slate roof after an inspection, on a form that rebuilds the house rather than paying its depreciated value; the best homeowners insurance for older homes is therefore a question of form and terms, and the cheapest home insurance for older homes is usually the one that answered it badly. The Insurance Information Institute's NAIC-based figure puts the average US homeowners premium at $1,411 for 2021, and the average renters premium at $170; both are national averages that no single household pays, and the rate pages on this site show what carriers actually file where you live.
The best homeowners insurance for older homes: HO-3 with replacement cost, or HO-8
An older house whose rebuild cost far exceeds its market value is often offered an HO-8 modified form paying repair cost with common materials; the best insurance for older homes is an HO-3 or HO-5 with replacement cost where a carrier will write it, and extended replacement cost where the rebuild would involve period materials.
The systems and the inspection
A four-point inspection on the roof, electrical, plumbing and HVAC decides which carriers will quote and on what terms. Updated wiring, a replaced panel, new plumbing and a documented roof open the market; original systems narrow it to specialty and regional carriers. Ordinance or law coverage, which pays to bring the rebuild up to current code, matters more here than on any newer house.
Where the cheapest quote hides
Actual cash value on the roof and systems, an HO-8 form when an HO-3 was available, no ordinance or law coverage, and exclusions for the original wiring. The filed rates on this site show how carriers price older houses in your state; quote the carriers that write your systems on identical forms and terms. The III reports that 5.5 percent of insured homes had a claim in 2022, so most policy years end with nothing paid out and the price is paid for the year something is.
Questions people ask about best home insurance for older homes
Who has the best home insurance for older homes?
This site publishes no ranking; the carriers that write your systems on an HO-3 with replacement cost and ordinance or law coverage, with a clean complaint ratio, are the candidates.
Is the cheapest home insurance for older homes a bad idea?
When it is an HO-8 or actual cash value on the systems, it is cheap because it pays less.
What is ordinance or law coverage?
The coverage that pays to rebuild to current code after a loss, which older houses almost always need.