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Why Historic Districts and Main Street Events Are a Great Insurance Opportunity

Why Historic Districts and Main Street Events Are a Great Insurance Opportunity

With any historic property, it’s imperative to have historic insurance for protection. Historic districts and Main Street events are no different. All it takes is one slip up and an accident happens. A patron could get hurt or an employee could get injured on the job. The possibilities for workplace accidents vary greatly, which means that adequate insurance and risk management protocols are a necessity. If you’re not properly insured, that means there could be huge legal bills that have to be covered by the Main Street organization or those who are a part of the historic district. Either way, both historic districts and Main Street events can’t exist without having proper coverage.

While both are different things, historic insurance encompasses every need for both local historic districts and Main Street events. There’s just so many things to think about; volunteers and patrons need to be covered, for one. For historic insurers, Main Street events and historic districts are an important market. Let’s take a look at how.

Main Street Events

With non-profits, exposure to a catastrophic claim is inevitable. Main Street organizations rely on grassroots events to gain community support for the local main street. The more events you can have, the more awareness there is towards Main Street. With this event, you’re going to need coverage because there’s going to be volunteers, security and servers.

On top of that, there are vendors that also need to be covered. Not every vendor or contractor is going to have the best coverage and not everyone signs contracts, which is why historic insurance is so important to have for a non-profit. National Trust Insurance Services (NTIS) offers a proper risk management program for a Main Street organization. With so many aspects needing insurance coverage, NTIS is ready to help get things into high gear. MDP/NTIS has historic coverage for everyone, making your job a little bit easier.

Local Historic Districts

Historic districts are interesting to insure because they are a community effort; advocates must raise awareness and avoid controversy through a general consensus to want this in a neighborhood. Here’s some reasons why local historic districts are beneficial to a community, making them a historic insurance opportunity to jump at--via Saving Places:

  • Local districts protect the investments of owners and residents of historic properties.
  • Properties in this particular area appreciate at rates greater than the local market overall as well as faster than similar, non-designated neighborhoods.
  • Local districts encourage better quality design.
  • Local districts assist with the environment.
  • Local districts are energy-efficient.
  • Historic districts are essential for higher education.
  • Historic districts positively impacted the economy through tourism.
  • Protecting local historic districts can enhance business recruitment potential.
  • Local districts provide social and psychological benefits.
  • Local communities have a voice in their future.

These are just some of the benefits of a local historic district; plenty of reasons why you can attract and retain supporters through this community effort. As long as you have historic insurance, the community will have nothing to worry about.