Listed property insurance renewal: why this year’s pricing isn’t the full story

Start early

The ideal time to start exploring alternative insurance providers is three to four weeks before your renewal date.

Starting early gives you the space to:

• Look beyond your existing insurer or broker
• Explore the full range of specialist providers
• Properly compare what’s included – not just the renewal price you’ve been offered

When your renewal invitation arrives, especially if the premium looks reasonable, it can be tempting to agree to the terms or let the policy auto-renew. But in a softer market, this is often when policies go unchallenged and important details are overlooked.

Use renewal as a practical check-in

If you’ve been with your current broker or insurer for years, its especially important to sense check your cover at renewal.

• Is your rebuild value still accurate?
• Have there been any changes to the structure or fixtures and fittings?
• Do your contents sums insured reflect what you own today? Have you considered the current value of items like antiques, silver, jewellery etc

If these factors haven’t been properly reviewed, your policy may no longer reflect your needs, even if the price hasn’t changed.

Starting early simply gives you the time to step back, review properly, and make a decision based on what your property actually requires today – not what it needed a few years ago.

Focus on cover, not just price

It’s natural to compare just the premium with other quotes, but for listed properties, the detail of the cover is what really matters.

Some policies can appear competitive but may not include important elements such as:

• Matching period materials and traditional repair methods
• Access to specialist heritage trades
• Rebuild costs that reflect conservation requirements
• Sufficient alternative accommodation cover
• Appropriate protection for high-value art, valuables and jewellery

This is something we’ve explored further here: Why value matter more than price when insuring a listed property

Claims history

If you’ve made a claim with your current insurer, you might expect your renewal terms to be less competitive and in some cases, that’s true.

However, not all insurers assess listed properties in the same way. Specialist providers often take a more informed view, particularly where claims relate to the nature of the building itself.

Just as importantly, how your property has been insured and how information has been disclosed can directly impact the outcome of a future claim.

If key details about your home haven’t been updated or clearly presented, it can create complications at claim stage. This is something we’ve covered in more detail here: The importance of disclosure when insuring your listed building.

Thinking of switching?

If you’re currently insured with another provider, renewal is the natural moment to consider a change.

At Abode, we specialise in listed properties, working with insurers who understand the complexities involved.

When you speak to us, we:

• Review your existing policy from your current insurer or broker
• Highlight any areas that may need updating or improving
• Approach specialist insurers on your behalf
• Clearly explain your options, so you can make a confident decision

Most importantly, we ensure your policy accurately reflects your property, helping to avoid underinsurance, which could leave you in a difficult position if you ever needed to make a claim.

And should you need to claim, you won’t be navigating it alone. As a specialist broker, we have a dedicated in-house claims team who support you throughout the entire process – managing the claim, liaising with insurers, and ensuring everything progresses as it should.

We’re always happy to provide a comparison alongside your existing renewal with clear advice and no pressure.

Call us today on 01622 476 433.