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Debunking common myths about Listed Home...

8 August 2023

Debunking common myths about Listed Home insurance

By Pamela Bremner Client Support

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As a provider of comprehensive insurance cover for listed properties, at Abode we understand the misconceptions and confusion that can arise when insuring these unique homes.

This article addresses some of the most common myths and provides accurate information to help you decide about your listed home insurance needs.

Myth #1: Listed properties are uninsurable

Contrary to popular belief, listed properties are insurable. While it’s true that insuring listed homes can present challenges due to their historical significance and special architectural features, there are both insurers and insurance brokers that specialise in offering tailored cover for these properties.

These providers have the expertise to understand the complexities of insuring listed buildings. They can offer policies that address your unique needs.

Myth #2: Listed home insurance is expensive

Another common misconception is that insuring a listed property is expensive. Yes, listed home insurance may come with a higher price tag compared to standard home insurance, but the cost is reasonable for the bespoke coverage it provides.

Listed homes often require additional protections due to their historical value and unique characteristics. By considering factors such as the property’s grade, historical significance, restoration and rebuild costs, insurance providers can offer comprehensive coverage tailored to the listed properties’ specific needs.

Myth #3: All listed properties require the same insurance coverage

It’s not true that all listed properties need the same insurance coverage. Each listed property has unique characteristics, historical value, potential risks, and specialist construction.

Insurance cover should be tailored to the property’s needs, taking into account its grade, geographical location, and restoration plans. Working with an experienced insurance broker specialising in listed properties will ensure you receive cover that addresses your property’s requirements.

Myth #4: Listing a property automatically increases insurance costs

Listing a property as a listed building does not automatically result in higher insurance costs. While some grade 1 or 2 listed properties may have higher insurance premiums due to their historical significance and associated risks, not all listed buildings fall into this category.

Insurance premiums are based on various factors we’ve previously mentioned, but other elements can include proximity to water, structural integrity, distance from fire services, and risk management factors in place.

A small house surrounded by trees sits by a lake in a grassy landscape under an overcast sky.

Myth #5: Standard home insurance covers listed properties

Standard home insurance policies are not designed to cover listed properties’ unique risks and requirements. These policies typically lack provisions for the restoration costs, heritage features, and potential legal obligations associated with listed buildings. For example, in the event of a total loss, your rebuild cost may be more than you’re insured for, because specialist construction, materials, and tradesman have not been factored in with a standard policy.

Listed home insurance offers specialised cover that considers these needs, ensuring your property is protected against risks unique to its historical and architectural significance.

A house under construction with scaffolding around the exterior, showing exposed wooden framework and a gabled roof.

Myth #6: Listed home insurance only covers structural damage

Listed home insurance goes beyond inclusion of structural damage. While it does provide coverage for potential structural issues, a combined buildings and contents policy may also include protection for other aspects of your listed property.

This may include cover for contents, fixtures, fittings, and more. It’s important to carefully review your policy to understand the full extent of coverage for structural and non-structural aspects.

We’d recommend also reading up on single article limits when securing your contents insurance.

Myth #7: Insuring a listed property requires extensive paperwork

Simply not true. Working with a specialist listed property insurance broker often simplifies the process and helps you gather the necessary information efficiently. The documentation required may include details about the property’s structural integrity, checks that have been completed, and any specific architectural features that need to be insured.

The question set may seem longer than those used on aggregator sites, or with general home insurance, but listed properties aren’t standard and to get the right level of protection just takes a little bit longer.

Myth #8: Listed home insurance is only available for grade 1 properties

Listed home insurance is not exclusively limited to grade 1 properties. While grade 1 listed properties may have higher insurance requirements due to their exceptional historical value, insurance providers offer cover for a range of listed properties, including grade 2 and grade 2* buildings.

The specific requirements and cover options may vary depending on the property’s grade and individual characteristics.

Conclusion

We hope this article has debunked some common myths surrounding listed home insurance. It’s essential to approach the insurance of listed properties with accurate information and guidance from experienced professionals.

By removing these misconceptions and clarifying what’s true, we aim to assist homeowners in understanding the specific insurance needs of their listed properties and finding comprehensive coverage that offers the necessary protection and peace of mind.

Remember, working with a listed property insurance broker is really helpful for obtaining comprehensive coverage that meets the tailored needs of your listed home. Contact us now and see how we can help.

Frequently asked questions

Can I insure a listed property if it’s undergoing renovations or repairs?

It’s possible to insure a listed property during renovations or repairs. However, informing your insurance provider about the ongoing work and any potential risks is important. They may have specific requirements or conditions regarding coverage during the repair and renovation period.

Will my insurance cover the restoration cost if my listed property is damaged?

Depending on the policy, listed home insurance can cover restoration costs for damage or loss.

It’s important to carefully review your policy and understand the terms and conditions of restoration coverage. Some guidelines may have limitations or exclusions for certain types of restoration work.

Do I need to provide detailed documentation of my listed property for insurance purposes?

Yes, providing detailed documentation of your listed property is helpful when applying for insurance coverage. This documentation may include photographs, architectural plans, historical records, and any other relevant information that helps establish your property’s unique characteristics and value. It ensures accurate and appropriate coverage for your listed home.

Can I change or alter a listed property without affecting insurance cover?

Making changes or alterations to a listed property may impact your insurance coverage. It’s crucial to consult with your insurance provider and relevant heritage authorities before doing any modifications to ensure compliance with regulations and maintain adequate coverage. Please notify your insurance provider about changes to your property before doing any work.

Can I switch insurance providers for my listed property?

Yes, you can switch insurance providers for your listed property. However, it’s important to consider the potential result of switching, such as any changes in coverage or policy terms. Before making the switch, review the new policy carefully and ensure that it adequately meets the unique needs of your listed property.

Are outbuildings and gardens covered under listed home insurance?

Yes, outbuildings and gardens can be covered under listed home insurance. Still, the extent of cover may vary depending on the policy.

Some policies automatically include coverage for outbuildings and gardens, while others may offer it as an optional add-on. Discuss your specific coverage requirements with your broker to check that all aspects of your property are adequately protected.

Does listed home insurance include coverage for damage caused by natural disasters?

Listed Home insurance can cover damage caused by natural disasters such as floods, depending on the policy. However, it’s critical to carefully review the terms and conditions of your approach to understand what types of natural disasters are covered.

Some policies may have specific exclusions or limitations for certain events, so clarifying the extent of cover for natural disasters with your insurance provider will be helpful in the long run.

How often should I review and update my listed home insurance policy?

Reviewing and updating your listed home insurance policy annually or whenever significant changes to your property are made, is recommended. This ensures that your cover remains up to date and aligns with any alterations, renovations, or changes in the value of your listed property. Regularly revisiting your policy allows you to make any necessary adjustments and maintain protection for your property.

Live with character. Insure with confidence.

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Abode is a trading name of Howden UK Brokers Limited, which is authorised and regulated by the Financial Conduct Authority No. 307663. Registered in England and Wales under company registration number 02831010. Registered Office: One Creechurch Place, London, EC3A 5AF. Calls may be monitored and recorded for quality assurance purposes.