insuring that ched and listed properties

Andrew Boldt, founder of Insurance Tailors (insurancetailors.com), a specialist insurance broker operating primarily in the property insurance sector, and one of the very few brokers providing property renovation insurance, explains the issues surrounding thatched and listed properties. I t is more expensive to insure a thatched house than an equivalent house with a tiled or slate roof, but the reality is that this is down to market forces as much as increased risk. There are in the region of 60,000 thatched homes in the UK, obviously much lower than the number of nonthatched properties. This is reflected by the size of the market – and therefore a lower level of competition – as in the non-thatched market. One of the key points of differentiation relates to how a thatched house is to be heated, particularly if there will be any open fires or woodburners in use in the house. For either of these, all thatch insurers have very strict rules regarding the state of the chimney, how it is lined, regularity of sweeping and so on. Interestingly, a considerable number of thatch insurers will not cover properties where woodburning stoves will be in use, while they have no issue with open fires. The logic here is that the temperatures reached inside a woodburner and high up the chimney can be several times that of an open fire, with increased associated fire risk. Undertaking major renovations on any property vastly increases the risk in the eyes of the insurer, but doing works on a listed property has even more of an impact for the homeowner. If anything goes wrong the cost of repairs on a listed renovation are considerably higher than that for a modern property. Even ignoring cost of materials, the cost of specialist labour is higher. For example, five thatchers worked full time for six weeks to restore the roof, cob renderers were back and forth to a local farm to mix the cob (which includes things like horse hair), and a specialist plasterer was required to apply the lime plaster which allowed the cob to breathe. Most home insurance will not cover major property renovations, and the contractor’s insurance will not cover your existing home. So, if you rely on home insurance plus contractors’ insurance during works it’s likely that your home is not covered for theft, malicious damage, accidental damage, flood or subsidence, to name a few. Be prepared for some more detailed conditions on your insurance policy. A thatch fire will typically damage much more of a house than a non-thatched property and these conditions are designed to greatly reduce the chance of a fire ever starting. You will have to have an electrical wiring inspection on a regular basis, chimney and stoves regularly maintained and no massive bonfires under the eaves!