• Post last modified:October 5, 2020
  • Post category:Homeowners Insurance

You ever wonder about the history of certain things and how they came about?  For insurance, think about how CT homeowners insurance came about.  Seriously, think about it! I wonder what the first person was thinking when that wanted to ‘ensure’ that their home was somehow financially protected by an outside agency.

Well in fact, the history of homeowners insurance goes all the way back to the 1700’s and evolved through individuals looking to protect their homes from fire damage- something that was a BIG threat back in the day (just think about the thatch roofing!).  With everything else, evolution has occurred, and insurance is nothing different in that regard.  Once there was demand for more than just fire protection for homes, governments began to catch on and started taxes premiums.

But it wasn’t until the twentieth century that the ‘modern’ homeowners insurance policy.  Back in the fifties, home insurance policies were established for a variety of ‘perils,’ many of the same perils that we include in standard policies today.  With the explosion of home owners after WWII, the demand for more insurance was evident, and that’s what led to more specialized types of insurance, as well as individuals who specialized in underwriting, risk calculating, and claim adjustments.

We hope you enjoyed this history lesson this afternoon, because I know I did! It helps that I was a history major and also blog about insurance!