Non-Standard Construction
If you own a home that’s been built using non-standard materials, you may find it difficult to buy home insurance and may be refused by some providers. Basically, if your home isn’t built from brick and slate, is prefabricated, or is of post-war concrete construction, then you’ll probably require specialist cover from a provider that fully understands the risks associated with properties such as yours.
High-Net Worth Cover
If you live in a large country pile, mansion, or even own an estate, your home is larger than most standard domestic properties and you’ll need insurance to suit. If your home is valued at more than approximately £500,000 you may need a policy that includes cover for landscaped gardens, grounds, outbuildings, stables, barns or annexes. With property values increasing daily, many more homes are falling into the high-net worth bracket so do make sure you check whether your home is one of them. At Policy Expert, we offer two different levels of buildings insurance up to £500,000 or up to £750,000 ( the amount you need should be be based on the rebuild cost of your home rather than the market value).
Unoccupied Properties
If you own a property that’s currently empty, it’s likely that many insurance companies will class it as high-risk. If the property is an uninhabited house, empty shop or unoccupied commercial premises such as factory buildings or vacant offices, look for a policy that will cover you for theft, vandalism and water damage. Do inform your insurer that the property you own is unoccupied as you may not be covered if you don’t declare this and need to submit a claim.
Can’t get cover?
If you’ve had your previous insurance application declined, been classed as bankrupt, have any criminal convictions or you’re an asylum seeker then you might require specialist insurance services from a dedicated underwriter.
Check out our guides on landlord, tenant, holiday home, listed building and subsidence cover for more information.