7 Things to Consider When Insuring Your Thatched Property
A thatched home is considered to be one of the most attractive residences in the UK – yet behind its picturesque appearance hides an array of insurance implications that aren’t an issue for most homeowners with more common roof materials.
Whether you’ve just bought a thatched house or you’ve been living there for many years, selecting the appropriate insurance is crucial, both from a legal point of view and as an integral part of preserving this unique heritage for your heirs and future generations to come.
Here is what you should bear in mind while getting or changing your thatched property insurance.
- Choose a broker who understands thatched properties
Not all insurance brokers have practical knowledge of thatched buildings, but this is an important distinction. It is important to choose a team who knows the risks of thatching and what insurance cover would work best for your needs.
Our John Albion team has specialised in Thatched Property Insurance for over 30 years, and are dedicated to helping people like you get the appropriate policy in place. They will take the time to learn more about your needs and help you explore available cover options.
-
Make sure your rebuild value is accurate
Underinsurance is perhaps the single biggest mistake that any thatch roof homeowner can make. If the amount of coverage in your policy doesn’t properly reflect the cost of completely rebuilding your house, you will find yourself short by a significant margin when it comes time to file a claim.
For instance, suppose that your rebuild coverage limit is £350,000 but the total cost of rebuilding turns out to be £475,000 – you’d be responsible for the remaining £125,000.
As rebuilding costs will vary according to changes in material, labour costs, and even taxes, it’s prudent to have your rebuilding cost evaluated regularly. The best place to begin your search for a good rebuild calculator or surveyor is your insurance broker.
-
Don’t overlook your contents cover
While it’s easy to concentrate on the structure itself, your household contents also require the same level of care and protection. This type of coverage will make sure your possessions, including all those pieces of furniture, clothes, electronics, and other valuable possessions, are appropriately protected.
Remember that some of your most valuable possessions, like jewellery, technology, and other expensive items, should always be specified to your broker if you intend to take them with you when you leave the property.
-
Consider whether you need accidental damage cover
Accidental damage is not necessarily provided under the policy, but definitely worth thinking about. After all, any household will experience its share of accidents: spilling red wine onto a light-coloured carpet, or windows damaged by an errant football.
Without accidental damage insurance, you would be left footing the bill. It’s always worth discussing the necessary level of coverage you need, just in case something unexpected happens.
-
Look beyond the premium price
Thatched building insurance will usually be more expensive than regular house insurance. When choosing a policy it is worth considering whether the cover provided meets your needs rather than just focusing on price. Cheaper cover may offer increased excess rates, have exclusions and/or reduced limit of cover – which means that you might end up underinsured if you need to make a claim. Rather than considering just price, you should try to analyze the benefits provided by the insurer’s offer.
Read more about thatch property insurance
-
Check what claims support is available
Making a claim can be difficult, especially when you have lost something or when your property is damaged. Being able to depend on a claims team that represents you and deals with the insurer on your behalf will help ease the stress associated with making such claims.
It is wise to inquire about how brokers handle claims before selecting them. Is there a claims department within the broker? Will they see your case through from beginning to end?
-
Speak to a specialist
Wherever you feel lost, or when you simply have to renew your existing policy, the first thing you should do is to contact an expert thatch insurance broker who will examine your coverage and make sure that your house and personal effects are adequately covered.
Do you need Thatched property insurance? Enquire today for comprehensive thatched property insurance.