WHY OLD, HISTORIC AND LISTED BUILDINGS REQUIRE SPECIFIC INSURANCE
Rebuilding and repairs to older buildings following a claim can be a costly affair. Specifically, for historical or listed properties, there are many additional considerations such as certification expenses and using specific materials that factor into your premium cost. A specialist comprehensive Old, Historic and Listed Buildings Insurance policy, like the one we offer at Bruford & Vallance, has been underwritten by Ecclesiastical Insurance and ensures you are fully covered in the event of a repair or damage.
There are many reasons why a standard home or building insurance isn’t adequate for these unique properties.
SPECIFIC SKILLS REQUIRED
Rebuilding historic or listed buildings requires specialist skills that are limited in their availability. Tradesmen such as stonemasons, decorative artists and muralists perform time-intense and tailored jobs.
HISTORIC MATERIALS REQUIRED
Repairs to older buildings should be done with the aim of matching the aesthetical finish as authentically as possible. This requires specialist materials such as vintage brick shapes and hand-hewn timbers to be sourced, adding to both time and cost.
If your home is damaged by fire, flood or another major peril which results in you having to move out whilst repairs are carried out, you need to ensure that your policy will cover your alternative accommodation for as long as needed. Our specialist Old, Historic and Listed Buildings Insurance policy will cover your alternative accommodation until the works are complete regardless of the time involved. Typically, rebuilding a listed property may take several years, especially as listed building consent would need to be obtained which would delay any initial works. Most standard household policies will only cover you for a limited time, typically 12 months.
Due to the very nature of listed and historic properties it may be necessary, following a major fire, flood etc. to preserve as much of the existing structure as possible prior to reinstating your property. Our specialist policy provides cover for the archaeological costs that may be involved in recording the remaining parts of the structure, the collapsed fabric and damaged floor surfaces prior to the reconstruction, to comply with any listing or conservation requirement that may be attached to the property.
Another situation where the repair time may extend is when buildings are subject to legal requirements such as specific listed planning laws or building ordinances. Again, standard property insurance policies are unlikely to cover for this. Our specialist policy provides an additional 20% of the buildings sum insured to cover for these eventualities should they arise.
EXTENSIVE BUILDING ASSESSMENTS
Older buildings require in-dept assessments to ensure they are structurally sound and the repairs have been completed to an acceptable level. These can incur an additional cost and extend the time taken before a properties repair becomes complete.
Our unique Old, Historic and Listed Buildings Insurance covers a host of different areas including archaeological costs, Listed Buildings and Conservation Areas planning fees and Automatic Indexation of the building sum insured through the Royal Institution of Chartered Surveyors.
Contact us for more information and to find the most suitable policy for your property today.