Own a listed building? Thinking of buying one but want to get all the facts first (a smart idea)? When you own a listed building, you’ve got a magnificent piece of history. Listed buildings are often full of character and sometimes come with a tale or two.
But before you can really settle in, you need to put in place the right kind of protection for this unique property.
We’ll take you through everything you need to know about listed building insurance, so you can be your own knight in shining armour when it comes to insuring it.
What Is Listed Building Insurance?
Listed buildings need cover that’s a little bit different, called listed building insurance. It’s designed to protect you financially should anything happen to your property. It takes into account the things that make your listed building just a little magical – its cultural, historical and architectural significance.
Any of those things can turn your property from a normal house to a listed building. Listed building insurance has to take these factors into account, as your property is protected by law, too. That means you usually can’t knock down walls, replace windows or add a giant statue of yourself in the front garden (tempting as that is).
As the owner, you have a legal responsibility to maintain your property in its full, original glory. Your insurance has to reflect this added layer of care, safeguarding things like ancient features, specialist craftsmanship and preserving old materials.
Do I Need Listed Property Insurance?
If you have a listed property, you likely do need to get specialist listed property insurance. Standard home insurance simply won’t cover you for the things you’ll encounter, like sourcing original materials and using specialist tradesmen for repairs or renovations.
You definitely need listed building insurance if any of these apply:
- You’re buying a listed building: Lots of mortgage lenders will need you to show them proof of listed building insurance before they will approve your loan, and your purchase can officially go through.
- You’ve inherited or been gifted a listed property: Inheriting a listed building is a fairytale come true – if you get the proper listed building insurance in place to protect your gift, that is. Without it, it can become a headache!
- You already own a listed building: It doesn’t matter whether your property is Grade I, Grade II* or Grade II, if your property is listed, you’ll have to adhere to stricter regulations.
Not sure if your property is listed, or just have a sneaky suspicion it might be? You can check! Take a look on the Historic England website for properties listed in England.
What Does Listed Building Insurance Cover?
Your listed property has some extra requirements, and only specialist insurance can cover it all.
The good news is that specialist listed building insurance covers all the same standard things that normal home insurance but it’s also tailored to your property’s unique characteristics and features (think oak beams, delicate windows, ornate stonework). Key areas covered are:
Rebuilding Costs – This covers the cost should you ever need to rebuild your property to its original specs, which in most cases is an eye-wateringly high number you wouldn’t want to face without insurance.
Specialist Repairs – Listed building regulations mean that any restoration or repair work must be done with compliant materials and methods, and your insurance can cover this extra cost.
Legal Liabilities – If someone ever gets injured on your property or you accidentally damage someone else’s listed building, you’re covered for the legal costs, no worries. It might sound farfetched, but accidents happen.
Historical Features – This covers special features or outbuildings, like gatehouses, historic walls, or other elements on your property that need to be included in the insurance.
Your listed building likely needs more TLC than normal properties because it has elements that need upkeep or protection. But no need to stress, as the right policy will understand these individual quirks.
Uh-Oh, Is Listed Building Insurance More Expensive?
Ah, this really is the elephant in the room – the cost of listed building insurance. The short answer is yes, you can generally expect to pay a bit more for specialised listed property insurance, but you’re getting your money’s worth in…
Specialist Materials – Need authentic 16th-century stone to rebuild a wall? It’s going to cost a lot more than your average brick-and-mortar job. Your insurance can pay you back for this.
Contractors With Expertise – Expert contractors are a must with listed buildings, meaning a small job like adding in some additional plumbing can turn into a costly endeavour. Specialist insurance is there for these extra coats.
Higher Rebuild Costs – It would undoubtedly cost more to rebuild a listed building compared to a normal building, even if they are the same size. If your cover doesn’t reflect this, you could be left powerless to reclaim anything.
But just as your home is unique, your insurance cost is too. The exact cost will depend on factors like your property’s condition, location, grade of listing and size. A Grade I manor house would cost more to insure than a cosy little Grade II cottage, for example.
So, Which Listed Building Insurance Is Right For Me?
Your ideal policy depends on a few specific things – like your personal circumstances and your property’s needs.
At Orwell Insurance, we work with you to brew up a bespoke policy that hits all the right spots. Whether you need comprehensive coverage for a sprawling estate or a simple policy for a timber frame, we’ve got the troll-tastic cover that’s perfect for your home.
We can provide you with expertly personalised insurance because of our clever panel of insurance providers, ready and waiting to create a policy that’s just right for your listed property.
Let’s Protect Your Piece Of History Today…
Your listed building comes with added charm, but it comes with some extra care responsibilities you can’t ignore. Listed building insurance is your mighty shield against the likely costs and issues you’ll come up against as a listed building owner.
Protecting your home’s legacy (and protecting yourself from unexpected costs) doesn’t have to be expensive or difficult, though. Get in touch with the friendly team here at Orwell Insurance Services, where we specialise in listed building insurance. We can get you a tailored quote and keep your home as safe as houses.
