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Grade 1 and Grade 2 listed property buildings and contents insurance
If you have made enquiries for Grade 1 or Grade 2 listed building home insurance from many of the mainstream home insurance companies, you may have found that they are either unwilling to offer an insurance quote on standard terms or they may decline to offer cover at all. You may be wondering why.
Barney says: 'There are three types of listed status for buildings in England and Wales:
- Grade I: buildings of exceptional interest
- Grade II*: particularly important buildings of more than special interest
- Grade II: buildings that are of special interest, warranting every effort to preserve them'
The privilege of owning and living in an English Heritage Grade 1 or Grade 2 Listed Property brings with it some additional responsibilities for homeowners, both in terms of the restrictions placed on the property regarding changes to the property’s construction, use or appearance and also in relation to making sure that the insurance company that covers the property’s buildings and contents insurance is fully aware that they are insuring a Listed Building.
"The registrar of all listed buildings is English Heritage, which states “So how can you ensure that your listed building is properly valued and protected? Initially, it is important to determine which are the most important features of the building."
"In the event of a catastrophe, English Heritage notes that generally full reinstatement will be required if more than 40% of the historic fabric has survived. However, one should beware of taking this guidance too literally: nearly all of a building may be destroyed, but the remainder could still be the most important part of the building and the entire reason for the listing."
Repairing or restoring a Listed Property, either Grade 1 or the more prevalent Grade 2 Listing, means that when an insurance claim is made it is possible that the cost of repairing and restoring the property to its original state would potentially be higher than for a conventional property, owing to the specialist skills required from master craftsmen, expert architects and others. These skills and the materials associated with repairing a Listed Property are likely to cost the insurance company more as they are less widely available and therefore potentially more expensive. In extreme cases, the materials required to repair a Listed Property may not be available at all, owing to the use of obsolete building methods and materials from a bygone age.
Insurers are therefore nervous of insuring a property that may have its own unique features and that may in time require a lot of time, effort and cost to repair and maintain – hence why some insurers are not prepared to offer cover for Grade 1 and Grade 2 Listed Buildings.
How to get a quote for Grade I or II Listed Building insurance
If this has been your experience or if your home insurance policy is due for renewal and your buildings or contents insurance has increased from last year, you may want to consider using the services of insurance brokers who specialise in providing access to insurance underwriters who offer insurance policies specifically designed to cater for owners of Listed Buildings in the UK. These insurance schemes are not widely publicised nor are they widely available from the mainstream insurers – Listed Property Insurance is a highly specialised area and QuoteRack offers you the opportunity to compare your existing insurance with quotes from our panel of expert insurance brokers. Clicking the ’Get a Quote’ button on the right side of this page will present you with a simple online form. Once completed, this form will be sent instantly to our panel of insurance brokers who are keen to guide you through the options of insuring a Grade 1 or Grade 2 Listed Property.
Listed Property - Downloads
Why buildings are listed
Principles of Selection for Listing Buildings
Alterations to Listed Buildings
Help with applying to make Changes to Listed Property
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