RISK MANAGEMENT ADVICE Specialist insurers can offer advice and expertise to help you manage security risks at your property. Insurers can offer a combination of onsite and remote risk management services to support customers including security assessments and advice, alongside broader property protection and building valuation services.
Security specialists can also provide independent security reviews to assess the potential security risks at your listed building and provide advice and guidance.
CYBER SECURITY It’s not just physical security that listed property owners need to be thinking about and we encourage homeowners to speak to their brokers about cyber insurance cover. Most home Wi-Fi routers have the password stuck to the back of the device and this can be in plain sight if perched on a windowsill. It only takes a few seconds for someone to take a photograph of the password and have access to your network. We encourage all owners to change the standard name and passwords for your home Wi-Fi router and smart devices to reduce the risk of hackers accessing your network and devices.
Social media can also pose a security threat as thieves are increasingly monitoring these platforms to see when homeowners may be away from their properties. While it’s tempting to post photos of your holiday on Facebook while you’re away, it’s best to wait until you’ve returned home.
POTENTIAL DISCOUNTS ON YOUR INSURANCE PREMIUM
Formal discounts from premiums other than for increased deductibles/excesses (the first part of the claim that you elect to pay yourself) are less common today as insurers will generally ask questions of the risk that they believe are relevant and these are then built into the premium quoted. That said it pays to make clear to your broker any ‘positive risk features’ that you may have undertaken as if it’s beyond what insurers require then the broker may well be successful in pushing for a discount.
We’re aware of a client that suffered from annoying but minor water leaks from their pipework that were too small to claim for so they renewed all the plumbing in the
house to resolve the problem. This was well beyond what insurers would have called for and LPOC Insurance Services secured a modest discount from their premium for them. It was never meant to recompense their investment but at least acknowledged their ‘positive risk features’.
Similarly if insurers do not require an alarm for your property but you install a Central Station Fire/Theft Alarm system for your own peace of mind then do make your broker aware, we would expect them to push insurers to recognise this voluntary risk improvement by means of a discounted premium.
Kevin Brown LPOC Insurance Adviser
Improving the security of listed properties needs to be a priority and further risk management guidance is available from the Club, call us on 01795 844939 for more information.
If you decide to carry out alterations to improve the security of your listed building, you may require listed building consent through your local authority. Please speak with the Club’s insurance team by calling 01795 844939 to find out more about the insurance implications when making security upgrades to your listed property.
Article attributed to Faith Kitchen, Heritage Director at Ecclesiastical Insurance.
Listed Heritage Magazine January/February 2020 119
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