Help with listed building insurance

[CSLmarson]

Hi there
We are looking to move into a grade 2 listed property
but I can’t seem to get any insurance quotes for anything under about £2700 PA!
Can anyone point me in the right direction for any good value insurance companies if such a thing exists.
Thanks

[Arrivalist]

Assume you’ve tried NFU?

Trouble is, when you need specialist insurance it typically comes at a cost.

Maybe try a broker?

[1690cc]

I just use, Compare the Market. There is a listed box to tick on the questionnaire and away you go.
I only use relatively basic cover as I have no intention of claiming other than for a major incident.
£100,00 contents and unlimited buildings cover through RIAS for £173.

[CSLmarson]

Hi there
Thanks for the replies
I have just contacted the NFU and will await a call back tomorrow thanks for that.

£173PA!!!

That’s incredible I don’t think I will be getting there, but I do feel it’s very high, it is a 5 bed with 12 acres but it’s not a massive building not sure why it’s coming back so high.

Thanks

[gred]

My last house was listed Grade 2 and I joined the Listed Property Owners Club which I felt worthwhile. They have links with insurers
https://www.lpoc.co.uk/insurance/ But I switched to NFU who were extremely helpful when we were doing major renovations and also had a claim.

Still with NFU in new home now in conservation area rather than listed.

[gred]

My last house was listed Grade 2 and I joined the Listed Property Owners Club which I felt worthwhile. They have links with insurers
https://www.lpoc.co.uk/insurance/ But I switched to NFU who were extremely helpful when we were doing major renovations and also had a claim.

Still with NFU in new home now in conservation area rather than listed.

[LooneyTunes]

CSLmarson said:

it is a 5 bed with 12 acres but it’s not a massive building not sure why it’s coming back so high.

Do you have a rebuild cost figure from your surveyor or just letting the insurance companies assume a figure based on number of bedrooms?

Land can also add a bit to the cost. From memory when we added a bit more to our home policy it went up by about £10-15 per acre.

[alscar]

Like most Insurance policies and classes, prices have increased over the last few years but Listed buildings seem to add more issues given not every Insurer will cover them.
Obviously prices will depend upon the actual coverage and more importantly rebuild value.
How any Insurer can cover unlimited rebuild values for £ 173 is a mystery and I would hate to see a thread on here appear about subsequent claim issues !
NFU are a good shout or Howdens ( previously A Plan ) as brokers are decent enough.
The one thing to be aware of is rebuild values and if you haven't had a rebuild value survey in say the last couple of years then maybe think about this.

[rlw]

Marks & Spencer is worth a try too.

[PhilboSE]

Tips to get building insurance down on listed properties:

1. Go for “unlimited” rebuild cost policies if it’s got a rebuild cost over £1m. Lots of companies won’t quote for £1M+ but will happily do “unlimited” even if you then say the actual rebuild cost. Go figure…

2. Look for separate policies for bouldungs & contents.

3. Use a specialist like Frontier, Lumley, Ecclesiastical.

4. Validate against the market every renewal.

5. The more detail you can provide about methods of construction etc the better.

[ATG]

I have nothing constructive to add, but I do love to whinge. Total rebuild estimate for us assumes that four separate buildings will all simultaneously require a total rebuild. Given we're on a hill, so no flood risk, the only thing "likely" to destroy all four buildings in one go would be an airliner falling out of the sky. Each building could burn to the ground without much risk of igniting the others because they're modestly sized and reasonably spaced out. But that doesn't count for anything because the pricing model doesn't take any of that into account. The only thing "specialist" about the insurance is the price.

[CSLmarson]

Thanks for all your comments, very helpful!
I’m going to ask the surveyor about rebuild costs as
I have just been speculating on this so best to drill that down.
Cheers

[alscar]

ATG said:

I have nothing constructive to add, but I do love to whinge. Total rebuild estimate for us assumes that four separate buildings will all simultaneously require a total rebuild. Given we're on a hill, so no flood risk, the only thing "likely" to destroy all four buildings in one go would be an airliner falling out of the sky. Each building could burn to the ground without much risk of igniting the others because they're modestly sized and reasonably spaced out. But that doesn't count for anything because the pricing model doesn't take any of that into account. The only thing "specialist" about the insurance is the price.

Total rebuild estimate assumes that any or all of your 4 buildings could have a potential claim within the policy period.
It has nothing to do with a simultaneous loss.
Your premium " rate " is calculated on the Total Insured Value amongst other criteria in the model.
You could choose not to insure those buildings which aren't the main house but then obviously you self insure those.

[2ono]

Give these guys a try, I'm sure they will be able to help.

https://www.simplylending.co.uk/insurance-by-simpl...