Historic Structures, Heritage Properties and Listed Building Insurance

Premises certificated as a listed building are acknowledged to be of great importance and proudly noted on the Statutory List of Buildings of Special Architectural or Historical Interest.

Heritage buildings, artefacts, monuments or sites are somewhat different, as they are celebrated and outlined for their archaeological, historical, architectural, cultural, engineering and scientific importance.

Background

There is a monumental catalogue of listed buildings in England alone, with 2% of the 370,000 being labelled Grade 1, 4% for Grade 2* and the remaining 94% Grade 2.  As lovely and precious, as they are, they all request dedicated on-going maintenance and insurance.

In April 2005, English Heritage, obtained the role of collecting and managing the listing inventory, with Scotland recording their own separate register.  Since then, all structures before 1700 have been archived and the majority of buildings between 1700 and 1840 have been documented.  Those from the years between 1840 and 1945, of equal calibre, have been added for their distinction.

Certain cultural, government and political trends have had some detrimental effects on the heritage department.  The grinding cut-backs have left our much-loved culture, somewhat neglected.  This, unfortunately, results in minimal funding across the board.  Heritage crime and theft, is regrettably on the rise and equally the more difficult to protect and preserve.

However, to own such beautiful and historical properties, is a blessing.  A blessing that comes with a gargantuan role of respecting, safeguarding and conserving all at once.  There are added legal accountabilities to suit, regarding relevant repair work.  These being:

– Any unauthorised work, is a committed criminal offence, resulting in a hefty fine or prison sentence.

– Premises within conservation perimeters may have meticulous construction limitations, that could have extensive charges.

– Our private surveys, within house, portrayed that 28% of said listed buildings are accurately insured, with 17% measurably over-insured and a worryingly 55% under-insured.

With cultural interest from the general public, comes a high level of pressure to sustain the appeal and a financial ability to restore and retain heritage appearance.  This area of the owner’s business is often disregarded and may not even be considered.  All this would have an economical influence, if a loss of large proportions was a reality.  A devastating and avoidable circumstance, if you do not seek out the right skill-set from the beginning, in relation to insurance.

Insurances for listed buildings, historic structures and heritage properties

Insuring such important listed properties, requires the service and guidance of specialist insurers that will tend to your requirements from infancy to completion.  Here, at Property Insurance Brokers, we do just that.

We are faithfully devoted to providing insurance for these structures, using our experienced knowledge with the owner’s requirements in the forefront of our minds.  Supplemented insurance, such as loss of revenue, employer’s and public liability, in-house businesses, cover for irreplaceable art and antiques can be incorporated.

Valuations

All owners of listed buildings usually have one thing in common.  The prodigious problem of under-insurance, as any relevant work being undertaken must comply within the stated laws.  The opposite of adequate cover, is liability, accountability and further costs.

We would generally recommend a valuation of your property, using a listed building surveyor, to fully assess and bring you reassurance.  Some insurers will offer a free valuation service once you insure with them and assist ensure that the building is not under insured ensuring peace of mind.

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Preston, PR1 3JL

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