Listed Building Home Insurance

Listed Building Home Insurance cover will differ from home to home because each property will have its own unique needs. Generally, each policy will provide Buildings Insurance and Contents Insurance that will cover you for risks such as:

• Fire
• Lightning
• Storm and flooding
• Malicious damage
• Water leakage and burst pipes
• Accidental damage
• Theft
• Structural issues and subsidence

You will also get the opportunity to protect individual items of fine art, jewellery, silver and furniture, as well as statuary, office equipment and machinery. You can find out more about cover for valuable items on our dedicated web page for high-value homes.

Listed Property Insurance is not a legal requirement. However, listed properties have more complex risks as well as criteria set out by local authorities or Historic England, Historic Environment Scotland or Cadw that governs their construction and appearance. Together, this can make repairing or replacing structures, fixtures, fittings or contents much more expensive.

Listed homes may also take longer to repair or restore due to the methods required and the need to keep planners updated with progress. This could mean that you will need alternative accommodation for longer if your home is uninhabitable. Having specialised Home Insurance in place can therefore protect you from footing a very expensive bill if the worst was to happen.

In England and Wales, the three grades of listed property are:

Grade 1: buildings of exceptional interest.

Grade 2: buildings of special interest.

Grade 2*: buildings of more than special interest. In England, 92% of all listed buildings are Grade 2. Finding Grade 2 listed Buildings Insurance will therefore be no issue for experienced brokers such as Chris Knott.

In Scotland, the categories are slightly different:

Category A: properties that are of special architectural or historical interest and represent an outstanding example of particular style, building type or period.

Category B: properties that are major examples of a particular style, building type or period.

Category C: properties that are representative examples of a building style, type or period.

In Scotland, the vast majority of listed properties fall under Category C.

To get all the cover you need, you need to know the rebuild value of your home. This will probably be a lot higher than that of a new home. This is because period materials or specialist skills may be required. A listed home is also likely to have special features and luxury fixtures, fittings and contents.

When choosing Listed Property Insurance, you need to think about what exactly needs insuring, including any additional structures or special contents. For instance, you may have a fine art collection or your listed status could extend to extensions or other buildings on your land. Unless there is a specific exemption, your listed status will apply to both the exterior and interior of your property, which could mean that you need to use period materials and craftsmanship inside and out.

You will often need to consult a body such as Historic England before carrying out repairs or replacements, so you need to make sure that your policy will cover the extra expense of having to use specific materials or craftsmanship.If your property is underinsured, your insurer may not pay the full amount needed to repair or rebuild your home. This can lead to a ‘condition of average’ being applied. This means that an insurer will pay out the same proportion of the premium paid. In other words, if you paid 75% of the actual premium due to underestimating the rebuild cost, your insurer will only pay 75% of the expenses. You will have to cover the remainder yourself.

To help you get the right level of cover, talk to an experienced Listed Building Home Insurance broker at Chris Knott Insurance.

Listed Building Home Insurance costs will depend on the unique risks and needs of your home. Factors such as your building’s location, its history, occupancy and use, materials, fixtures, and fine art or collections will all play a part. The premium will also be determined by the full rebuild cost of your home.

It is very important that this is accurate so that the costs of repairing, replacing or restoring your home can be met. Planning obligations for some properties may insist on your property being replaced on a like-for-like basis with period materials and craftsmanship, which can be very expensive. An expert is best consulted for this process. For instance, if your home has an 18th century facade but much older interior wood, this will need to be factored into the rebuild cost.

To find out how to correctly estimate the rebuild cost of your home, speak to an experienced member of the Chris Knott private clients team.