Buying a listed property means owning a fascinating piece of history. But it also brings some challenges when it comes to finding home insurance.
Unlike standard buildings insurance, specialist listed building insurance is designed to take into account the special needs of listed properties.
This can include sourcing specialist materials and paying for expert labourers who specialise in traditional construction methods. Listed buildings are often very old and need careful repairs or rebuilds to conserve their historic status.
Buildings
Listed buildings are protected by statutory bodies across the UK for their architectural or historic importance, so they must be altered and restored with consent. This means you may need expert advice and guidance to carry out work on your property that complies with the rules of the statutory body.
Buying a listed building can be a real privilege – you’ll live in a beautiful and interesting piece of history. But it comes with a responsibility to take good care of it too, and this could mean you need to insure it against damage or loss from unexpected events like fire, flood or vandalism.
The good news is that many standard home insurance policies will include some cover for listed properties, but you might need to take out specialist cover if your building is particularly old or has unusual features. This is because the cost of rebuilding a listed building is often much higher than a non-listed home, so a specialist policy can help you to get a fair amount of cover for repairing it.
You may need to provide extra information about your property, such as the age of the building, rebuild costs and any changes made in recent years, so that your insurer can calculate an accurate premium for you. In addition, you might need to pay for a specialist surveyor who knows about historic buildings or conservation.
Another thing that is different about listed property insurance is that it usually pays out for specialist materials, so you might be able to restore your building using material that is specific to the period in which it was built. This can be useful for things like thatched roofs, which need special materials to make them waterproof.
Whether you own a Grade I or II listed building in England, Wales or Scotland, we can find a policy that meets your needs and budget. We understand that each property is different, so we’ll be there to offer support and advice every step of the way. Contact us today to find out more about the type of listed property insurance we can offer you.
Contents
Listed buildings are a prestigious and sought after category of property, especially in Britain. These buildings are typically a mix of old and new, and are protected from unauthorised renovations by the local planning authorities.
If you’re lucky enough to own a listed property, you’ll probably be looking at a premium that is higher than that of a new build, but thankfully, specialist insurance providers are on hand. Besides the usual suspects like buildings, tenancy and landlords insurance, you may also require cover for any repairs or alterations you have carried out to your property, and advice about unauthorised work from previous owners.
One of the most important parts of the puzzle is contents insurance, which will cover your belongings in the event that they are stolen or damaged. There are a few different types of contents insurance, including replacement cost coverage and actual cash value. The most reputable companies will be more than happy to discuss your requirements in detail, and provide you with the best possible policy. In fact, you might even be able to take out a combined buildings and contents insurance policy at the same time. The best thing about this is you will only have to pay for what you actually need.
Add-ons
Listed properties are special and a well-designed insurance policy can help preserve them for future generations. But the best protection isn’t just about covering your property from loss and damage – it’s also about ensuring that you have adequate cover for things like water leaks or burglaries. You can cover these potentially expensive and risky situations with the right insurance coverage, so you can enjoy your listed property without worry. A good insurance agent will take the time to understand your needs and recommend the appropriate products based on your budget, property and lifestyle. If you’re looking for a comprehensive home insurance policy that fits your specific requirements, get in touch with your Unruh Insurance agent today.
Excess
Excess coverage is one of the most important aspects of listed property insurance. The level of excess you have to pay is set by your insurer and can vary depending on the circumstances of your claim. In addition to the standard excess, some policies may also include a voluntary excess that you can choose if you wish. This can help to reduce your premium but you will still have to pay the excess in the event of a claim.
A specialist listed building policy will make allowances for any additional risks or restrictions that apply to your property, as well as taking into account its heritage and history. It will cover replacement of special or specific materials like-for-like, and pay for skilled contractors. It will also cover the rebuild cost of your building, which is what it would cost to reconstruct it to its original condition using the same materials and methods used for a comparable building.
The Listed Property Owners’ Club recommends that owners of listed properties take specialist advice when it comes to their insurance. They often find that standard buildings insurance doesn’t make enough allowances for these unique features, and this could leave them vulnerable to financial losses if something happens to their property. That’s why they prefer to look for a specialist listed building insurance policy from providers who deal in home insurance for listed buildings. This will give them peace of mind that they are fully covered in the event of damage or loss to their property.
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