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What is the difference between standard ...

21 March 2024

What is the difference between standard and listed house insurance?

By Julie Talbot Insurance Advisor

Ancient Timberframed Cottage Village Smarden Kent

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Insurance plays a vital role in safeguarding your home. But what if your home is listed? Listed home insurance is unique, differing from standard home insurance in several ways.

A listed property is one that’s been marked for its historical or architectural significance. It’s often subject to specific rules and regulations, impacting the insurance process.

From the cost implications to the coverage provided, in this article we’ll explore the key areas where listed home insurance stands apart.

Understanding listed home insurance

When owning a listed home, homeowners must consider the unique aspects that aren’t a concern with modern homes. The first is the understanding of listed home insurance. It’s designed to address the intricacies of historical homes with recognised architectural value.

Insurance providers recognise that a listed property isn’t simply about rebuilding a house in case of damage or destruction – it’s a matter of preservation, too. The need to work within government regulations and use specialist tradespeople who’re aware of the unique elements and requirements of heritage homes are issues that are unique to listed home insurance.

Insurance for listed homes can cover beyond the scope of regular home insurance. It’s tailored to address concerns like:

Rebuilding cost
Specialist tradespeople
Listed building consents
Architectural salvage

Some elements must be considered when dealing with a listed home. The higher costs related to sourcing period materials and finding tradespeople experts in historical construction, along with the longer repair times and the complex permission process, all contribute to making listed property insurance more expensive compared to standard home insurance.

The benefits of insuring a listed home properly isn’t just for the sake of avoiding financial ruin; it’s also about helping to protect an important piece of heritage in its historical appearance and authenticity; an aspect standard ordinary home insurance isn’t designed to do.

Blue plaque oh home showing historical significance

Historical and architectural significance of listed properties

The listed status of a building highlights its substantial architectural or historical importance, setting it apart from conventional homes.

A historical home may have been a significant site in a local event or showcase an architectural style that’s no longer commonplace. The materials used, the building techniques, and even the layout… these all contribute to the home’s historical value.

Architectural significance often refers to buildings designed by renowned architects, embodying certain pivotal architectural styles, or containing distinctive architectural features.

Differences between standard and listed insurance

Standard home insurance typically covers common risks. These may include property damage due to fire, storms, and floods, as well as theft and vandalism.

Listed home insurance goes a step further. Specialised policies are designed to safeguard the specific needs of architecturally and historically significant properties. Standing out from standard policies, they cover extensive renovation, restoration, and any repair work these buildings may require. The cover also extends to the materials used –often rare, expensive, or otherwise unique –that regular insurance policies may not accommodate.

Another crucial aspect is regulatory permissions. Listed homes, being of historical importance, are under stringent regulations about alterations and repairs.

Let’s look at a few of the key differences:

	Listed home insurance	Standard home insurance
Coverage	Comprehensive	Basic
Renovations	Extensive coverage	Limited coverage
Materials	Specific and rare	Generic

In short, the primary difference lies in the level and detail of the cover. It’s about recognising the unique challenges listed properties bring and addressing them in an insurance policy. Any homeowner dealing with a listed property must fully comprehend these nuances to avoid disappointment at the time of a claim.

Cost implications of listed home insurance

The premiums for listed home insurance tend to be considerably higher. There’s a simple reason for this – older buildings present more risks. Their distinctive architectural features can be more expensive to repair or replace than standard fittings. The high value of rare or unique materials often used in listed buildings also contributes to pushing the premiums up. A higher cost for such properties isn’t arbitrary; it’s based on the reality of potential risks and the scale of potential claims.

Getting regulatory permissions for alterations and repairs – another aspect covered by listed home insurance – can also add a substantial amount towards the policy premium. While this isn’t a concern for standard home insurance, it’s a potentially significant cost for owners of these older properties that they’ll need to factor in when deciding on a policy.

Conclusion

Choosing between listed and standard home insurance isn’t a decision to be taken lightly. It’s a balancing act of financial implications and historical considerations. While listed home insurance may be pricier due to unique architectural features, older materials, and specific regulatory requirements, it’s worth every penny. It covers the cost of sourcing unique materials and hiring skilled artisans for restoration.

Frequently Asked Questions

What is the difference between standard and listed home insurance?

Home insurance typically provides coverage for standard property repairs and damage. Conversely, listed home insurance caters specifically for historic or listed properties, covering the high costs of unique materials and expert craftspeople needed for repairs and restoration.

Why does listed home insurance cost more?

Due to historic properties’ unique architectural features and older materials, repairs and restorations tend to be more expensive. Moreover, specific regulatory requirements for these properties also contribute to the increased insurance cost.

What happens if I alter my listed property without permission?

Making alterations without appropriate permissions may result in legal issues and invalidate your listed home insurance. Always consult with governing bodies and check in with your insurance provider before commencing any alterations.

Should I choose listed home insurance for my historic property?

If you own a listed or historic property, listed home insurance can ensure high-quality restoration while adhering to regulations. However, it’s vital to consider the financial implications and the property’s specific requirements for this decision.

Does listed home insurance cover sourcing unique materials and artisans?

Yes, it’s one of the unique benefits of listed home insurance. It covers the costs of sourcing unique materials and skilled craftsmen, often needed to restore historic properties.