Your PolicY


Insurance protection for heritage buildings is simply a mix of appropriate cover and an insurer with the capability to handle the claims


Arranging an insurance policy forablock of flats or houseconverted into flats is always amajor responsibility.Failure to provide appropriate cover could result in the wealth of allthe flatownersbeing severely affected. Whenthe property is of aheritagenature this responsibilitymaybeevengreater as it also includespreservingthe historic significance of theproperty,something that couldadd significantcost to anyrepairor reinstatement of the property.


Thereisnolegal requirementtomaintain appropriate insuranceonalistedbuilding or abuildinginaconservationarea. Legislationhowever,imposes various duties upon theowner in respectofrepairand maintenance,making adequateinsurance a prudentmeasure.


Heritage insurance extensions


Youneed to be awareofsomeofthe unusual elements of coverthatmay be required in respect of a heritage property. Examples include:


nCostsincurredbymeeting the requirements of alocalauthority underthe Planning (ListedBuilding andConservation Areas) Act1990. Thesecostsare difficultto predict andassuchitisadvisable to have an insurance provisionthatincludesthis.


nArchaeologicalcoststhatmay follow damage to buildings, e.g. analysis by conservation bodiesshouldthe damage expose elements of theoriginalfabricofthe building that are of significance and need to be examined and recorded.


nMonuments,memorials and statues in thegrounds of thepropertywhich need to be considered.


Arguably this is asegment of theflats insurancemarketwhere it is even more importanttohaveabrokerwho has the depthofunderstandingtomakesureyou areprovidedwithanappropriate insurance product coupled with an insurer with the capability to handle claimsinheritage properties.


Flat Living GUIDETO HeritageFlats 5


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