Why Insurers Might Not Protect Your Dream Home

Imagine the scenario, you’ve found the house of your dreams – it has character, charm and is totally unique. You love it, but nobody seems to want to provide insurance for your new property. Why are you being turned away?

It may be because your dream house is classed as a non-standard property.  Often, the more quirky, original homes on the market fall into this category.  These properties may have specific home insurance needs that some insurers are unable provide cover for. In other words, your home may present an unacceptably high insurance risk for them.

A standard property is typically described as one with brick walls and a tiled roof – insurers usually prefer to cover these conventional builds. If the property differs from this standard construction, insurers can often become uneasy. Normally it’s to do with the fabric of the property i.e. if it requires specialist materials or specialist construiction methods to keep it maintained. If your house is a little different from the norm, you could find youself paying above average premiums to protect it.

If your home falls into a non-standard category, you could find many insurers even refuse to cover you altogether. However, don’t fear, there are specialist home insurance providers out there who deal specifically with non-standard properties and will be happy to give you a quote.

What properties will need specialist cover

Listed building

This is a building that has special architectual or historical significance.If you wish to alter the property in any way that could affect the character or setting, you must contact the conservation officer at your local district council for Listed Building Consent (LBC).

Listed properties are often very old, so may need specialist care and maintenance to keep them well preserved. Insurers will normally worry about damage to a listed property, as it would have to be restored using the original materials and construction and this could be very expensive.

Listed properties are graded to reflect their historical and archtiectual importance:

Grade I are those of exceptional interest.

Grade II* are particularly important and of more than special interest.

Grade II are of special interest and warranting preservation.

Timber framed construction or thatched property

Due to their construction materials, both of these types of property can be viewed as an increased fire risk. Damage by fire could be devastiting and extensive to such properties and would require specialist construction techniques to restore them.

High risk location

Aside from the actual construction of your home, your property’s location could also have an impact on your home insurance search. If you live in a conservation area or an area at risk of coastal erosion or flooding, you may also need to look for a specialist policy. There are providers out there who deal specifically with homes facing these particular risk factors.

If your dream house stands out from the crowd, you might need to pay a bit extra to keep it insured. But, don’t despair – there’s a policy out there that’s as special as your wonderful abode.

Policy Expert 

If your home is your haven, you’ll want it to have the best protection, so compare quotes and tailor a policy to suit you. For more information speak to one of our experts on 0203 014 9300 or email ask@policyexpert.co.uk

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