When a building becomes listed, it’s usually because it’s steeped in history and plays an important part in the aesthetic of its surroundings. Listed buildings are often older constructions that represent the architecture and culture of a time gone by. Many listed buildings also pre-date the First and Second World Wars, adding greater significance to them for surviving a turbulent period.
If you live in or own a listed building, it will ultimately be your responsibility to make sure that it stays free from damage or decay, and to keep it as close as possible to its original state. As such, it will fall to you to restore the property to the way it was should it ever suffer any damage, wear and tear or erosion.
To give you peace of mind, you may wish to take out an insurance policy to provide you with any financial assistance if you need to make repairs. Finding suitable property insurance for a listed building, however, can be a difficult task, as most standard home insurance policies will not have the right degree of specialism to cover a listed property.
Depending on where you are in the UK, grades for listed buildings will differ slightly. Each nation has its own body that is responsible for looking after the historical and environmental landscape, each with its own grading system to demonstrate a building’s importance or significance.
In England, Historic England designate listed status on buildings, which they base on a number of factors. Buildings can be listed as one of three grades:
These grades are largely the same in Wales, but applications for listed buildings are handled by Cadw – the Welsh government’s historic service. Historic Environment Scotland uses a similar grading system for buildings listed in Scotland.
Over in Northern Ireland, buildings are graded A, B+, B1 and B2, with each of these corresponding to the English grades above. Local councils will consult the Historic Environment Division that is part of the Northern Ireland government.
Insurance providers will take a variety of different factors into account when insuring a listed building, potentially increasing the cost of a premium. Maintenance and preservation of these types of properties are paramount, which can prove to be costly especially when it comes to rebuilding or relying on specialist tradesmen to carry out restoration work.
Because of this, you will need a specialist insurance provider who has extensive knowledge and experience of older properties. They will need to look at whether or not the building has been constructed to modern standards, as well as previous issues surrounding damp, drainage and subsidence. The greater the risks, the higher the premium will be.
At Arkwright, we have an extremely diverse panel of specialist insurers that we consult with to find policies that match your particular requirements, so that we can present you with the cheapest possible option. Our team of brokers are standing by ready to take your call and discuss your insurance needs for your listed building.
You can call us directly on 01204 392 525 and speak to one of our team to get the ball rolling straight away. Alternatively, click on the “Get a quote” button on this page to send us a few basic details of who you are and what insurance you require.