An Insurance case study:
WHAT MAY ARISE WHEN INSURING A LISTED, HISTORIC OR THATCHED PROPERTY.
All of which, Listed Property Protection (LPP) can help with.Call us for friendly, professional and experienced advice.
So many historic homes have their own stories, some interesting and good and some not so. What is certain is that they all have their own character and quirks, and understanding these is key to making sure such great properties are protected.
One thing we do know is that period homes were built to stand the test of time.
MOVEMENT - Many people and insurers do not appreciate the difference between historic settlements or seasonal movement versus possible subsidence or heave in a period property. Historic settlement usually appears early in the life of an old building, due to archaic foundations. This is not necessarily serious. Any cracking should be determined, considered and inspected while considering the age and construction of the property. It is quite normal for timber-framed buildings to be susceptible to seasonal movement, particularly with extreme temperatures and varying amounts of moisture.
LEAKY PIPES & BLOCKED DRAINS These are two issues that may well impact a property's integrity. Many old buildings have large trees that can impinge on foundations, but pollarding may be the best solution as removal can cause further movement as the roots die off.
SUBSIDENCE Most modern homes would need to be underpinned as a result of subsidence. However this process is often best avoided for period homes without foundations. A specialist surveyor will often recommend less onerous or invasive structural work.
DISASTER - In one case, following a water leak at a listed property, a non-specialist insurer used dehumidifiers to dry the property out. Unfortunately it led to substantial cracking of the rendered timber-frame, making the damage significantly worse.
GET THE RIGHT INSURANCE AT THE OUTSET - It is VITAL to remember that the primary reason for having a specialist policy in place for your listed, thatched or historic property is to ensure that if you were to make a claim, you would be allocated a loss adjuster and contractors who understand these types of mortgages.
SPECIAL PROPERTY, SPECIAL INSURANCE
If something goes wrong with your listed, thatched or historic property, you want the peace of mind that those helping you to sort out the problem, care as much about the property as you do. OR, at least, understand its special features and historic beauty. Listed Property Protection (LPP) has more than 40 years of experience in the industry and only works with insurance companies and property contractors who are also up to speed. Getting the right cover in place now can save a huge headache, not to mention financial outlay, down the line, when DISASTER STRIKES.