Specialist Home Insurance
Sometimes a property does not stay within the guidelines that determine whether it is classified as a standard property. This may make the property more difficult to insure and it may be harder for the homeowner to obtain buildings insurance comparison. Luckily, specialist home insurance policies are available to handle these particular properties.
One kind of property that falls under this category is a home that is located in a flood zone. Thatched homes are also candidates for specialist house insurance policies because they are at higher risk of fire damage. Homes damaged by subsidence (a sinking foundation) are also high risk and many insurers will not offer coverage.
If a house is a listed building it too will require specialist house insurance, as the building will require special protection to restore it to its original state after an event such as a fire. Other properties considered for specialist insurance are unoccupied buildings. If a home is unoccupied for longer than 30 days, it is at a higher risk of theft and vandalism, and usually requires a specialist home insurance policy.
Lastly, farms and commercial premises are properties that also need specialist insurance cover, as they are often both a home and a business. These policies will not only cover the buildings, but also farm machinery, livestock, employer’s liability and other stock.
Special home insurance premiums are typically higher than standard house insurance premiums, but as described, usually warrant this increase. These properties have specific risks that a standard house insurance policy would not cover.
