Specialist home insurance

Key takeaways

• Specialist home insurance provides tailored coverage for unique property risks and situations not typically covered by standard policies, such as flood risk, subsidence, or properties with historical significance

• Properties that may require specialist home insurance also include those at high risk of natural disasters, listed or heritage properties, and homes with unusual constructions or high market values

• Personal circumstances that may necessitate a specialist policy include operating a business from home, owning high-value items, or frequently traveling, where standard policies may not offer sufficient coverage

What is specialist home insurance?

Specialist home insurance is a customised type of coverage that caters to unique needs of certain properties and situations that standard policies might not cover.

This type of bespoke insurance is vital for homes with higher risks or special requirements. While standard policies offer broad cover for common risks like theft or fire, specialist home insurance targets specific concerns such as flood risk, subsidence.

Specialist home insurance cover is also typically a requirement for properties of historical significance.

For example, if you own a listed building, a standard home insurance policy may not be adequate. These buildings often require specialist restoration techniques after damage.

Similarly, homes in flood-prone areas might need extra cover for water damage. This is not always fully included in regular policies.

By choosing specialist home insurance, homeowners ensure their unique property risks are fully covered.

Keen to find out more? Read our guide to non-standard home insurance.

What types of property require specialist home insurance?

Certain properties necessitate more than standard insurance coverage. Here are some prime examples:

• Properties at high risk of natural disasters: Homes in areas prone to floods, earthquakes, or hurricanes often need specialist home insurance. This insurance provides essential financial protection against these specific threats

• Listed or heritage properties: These buildings are architecturally significant and often historically important. Their unique features, such as a thatched roof, and the cost of repairing or replacing period-specific materials typically require more specialised coverage

• Unusual constructions or high-value homes: Properties with unique architectural designs or that are made from rare materials, or self-built, may not be fully covered under standard policies. Likewise, homes with a high market value often surpass the limits of regular home insurance and require a more tailored approach

• Homes with a history of subsidence: Standard policies typically offer cover for properties that haven't previously been affected by subsidence. However, it may be more difficult to get cover for buildings that have a history of subsidence and require you to seek out specialist cover

What personal circumstances require a specialist policy?

Certain personal situations may necessitate a specialist home insurance policy. If you operate a business from your home, standard policies might not cover business-related equipment or liabilities. This is especially important if clients visit your home office.

Additionally, owning high-value items like art, antiques, or expensive jewellery often requires more coverage than regular policies provide.

Lastly, if you frequently travel or are often away for long periods, your home is at increased risk.

Standard policies usually do not fully protect against theft or damage in such cases. In these scenarios, opting for a specialist home insurance policy ensures comprehensive coverage and peace of mind.

How will I know if I need a specialist home insurance policy?

Determining if you need a specialist home insurance policy involves several steps.

• Assess personal and property risk factors: Consider unique aspects of your home or location that might not be covered under a standard policy. For example, homes in flood-prone areas or with historical significance may require more specific coverage.

• Consult with insurance experts or brokers for tailored advice: These professionals understand the intricacies of various policies and can guide you through the complex landscape of home insurance.

• Review your existing policy limitations: Check your current home insurance to identify any coverage gaps. This review can highlight areas where your current policy is insufficient, indicating the need for a more specialised insurance solution.

How long can you leave a home empty before you need unoccupied home insurance?

When you leave a house empty, standard home insurance might not cover it after a certain period.

Typically, this period ranges from 30 to 60 days. If anything happens outside this period, you won't be covered.

It's crucial to check your policy for the exact time frame. After this period, you might need unoccupied home insurance to ensure your property remains protected.

Leaving a property unoccupied presents several risks. For instance, there's a higher chance of burglary, vandalism, or damage from undetected issues like leaks or electrical faults. These risks increase the longer a home remains empty.

If you plan to leave your home unoccupied for an extended period, take these steps:

1. Inform your insurance provider to discuss coverage options and any necessary adjustments to your policy

2. Secure the property by checking all locks on doors and windows, installing security systems, and ensuring the property looks lived in, perhaps by using light timers or arranging regular visits from friends or a property manager

3. Manage utilities wisely by turning off water to prevent leaks and setting heating to a low level to avoid pipes freezing in winter

4. Arrange for regular inspections to catch any issues early, ideally by someone you trust or a professional property manager.