Period Property Insurance
While period property and buildings may draw a sharp intake of breath from non-specialist insurance brokers, there's a perfectly simple solution to protecting period property. La Playa's Private Client Group has extensive experience of period property, including Grade 1, Grade 2 and Grade 2* period properties.
One of the crucial factors is the "reinstatement value" of your period property. If you buy a period property for £500,000, how much should you insure it for? Standard insurance companies leave the calculation of the reinstatement costs to you; under-estimate and they penalise you by reducing your settlement. Not only do older properties often require authentic materials and specialist craftsmen for repairs after damage, but the work may take far longer to complete - so the insurer's allowance for temporary accommodation during the works needs to be more generous too. Click here for our blog 'What is reinstatement or rebuild value?'
Period properties are works of art. Yet many property owners, brokers and insurance companies are unaware of the complexities involved in insuring them properly. There are nearly 500,000 period properties in England and their owners have a great responsibility to preserve and protect them for future generations. In fact, the consequences of knowingly under-insuring a Grade 1 period property could involve legal action.
So how can you ensure that your period property is properly valued and protected? A standard “off-the-shelf” insurance policy may not be suitable for a Grade 2 period building - it's worth upgrading to a specialist policy that comes with the advice you'll need. As well as the extra peace of mind, this could save you money both on premiums and on claims settlement.
It's important to work with a period property broker who will take time to assess your specific needs. And after a claim, you'll want sympathy and efficiency, not more hassle. La Playa's specialist policies provide cover for “All Risks” including accidental damage, and we can advise on:
- Period Property Insurance
- Reinstatement value
- Trace and Access Cover
- Subsidence and Flood
- Valuation
- Risk management
- Documentation
- Specialist insurers
Click here for our datasheet Insuring Period & Listed Buildings.
Gareth Cotton
Account Executive, Private Clients
gareth.cotton@laplayainsurance.com
 | Talk to me on 01223 200665 |
 | Download Period & Listed Buildings Insurance |
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