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Sarasota News Leader February 15, 2013 Page 47 In 1993 the National Trust for Historic Preservation came up with a product called NTIS ��� National Trust Insurance Services. It now protects buildings owned by 17,000 clients ��� churches, theaters, museums, hotels and other old structures. ���It���s tailored to manage collections, tax credits, restoration costs, the building and contents, as well as standard liabilities,��� McMahon said. Conventional insurance often uses depreciated values for a structure in case of loss. ���A lot of time, we find historic property is severely undervalued. What is the value?��� he asked. ���We start with the historic replacement cost, using the same materials, workmanship and architectural features. We���re going to try to mirror what it was with what it will be,��� said McMahon. Unfortunately, the NTIS approach is only for commercial or nonprofit structures. It does not apply to residential buildings. However, Atlas agent Brenda Baty will work to connect owners of residential historic properties with other insurance companies that offer programs to that of the NTIS. The home does not have to be on a historic registry to qualify. McMahon said Atlas and NTIS now cover the Sarasota Opera, Selby Gardens, the Mira Mar and the First Baptist Church in Bradenton. He is actively seeking other clients, such as the John and Mable Ringling home, Ca d���Zan; the original Sarasota High School being repurposed into the Sarasota Museum of Art; Historic Spanish Point; and the First Baptist Church downtown. David McMahon/Photo by Stan Zimmerman He has been responsible for several, if not many, historical renovations. He reminded the board, ���Historic structures are at most risk from us. The great majority is lost during restoration. Overloaded electrical circuits; a dropped cigarette; a plumbing breakdown.��� If true, that explains McMahon���s comment that the insurance rates under the NTIS program are often equal or lower than those of conventional policies. Historic structures have demonstrated they are ���survivors,��� and thus at less risk than other, newer properties. ���For Bradenton���s First Baptist Church, we were below premium,��� said McMahon. ���For Long-time local architect Stuart Barger was others, we���ve been equal, and often they were in the audience for McMahon���s presentation. underinsured.��� %