What is non-standard home insurance?

Key takeaways

• Non-standard home insurance is designed for properties that don’t fit typical insurance criteria, including high-value homes and properties at flood risk

• Homes with unique construction features, such as thatched roofs, timber frames, steel frames, flat roofs, and modular homes require specialist insurance

• Insurance costs vary based on location, age, size, security features, construction materials, and home usage

What is non-standard home insurance?

Non-standard insurance is for properties which aren’t covered by standard home insurance policies. They are unique and, as such, can be difficult and expensive to insure under a standard buildings insurance policy. Here are some examples of non-standard properties:

• High-value homes: Homes that are of particularly high value often require specialist policies due to their high rebuild costs.

• Flood risk: Properties that have previously been flooded or are at a high risk of flooding.

• Unoccupied long-term: Properties that have been unoccupied for a long period of time, including those undergoing renovation or those gained through inheritance.

• Listed buildings: Listed buildings require specialist insurance due to the extra regulation that surrounds how they’re built and renovated.

• Subsidence: Properties with a history of subsidence need to be transparent with their insurers, often providing a recent structural engineer's report.

• Personal circumstances: Including individuals with criminal convictions or who have experienced bankruptcy, which must be disclosed when seeking insurance.

What are non-standard constructions?

These homes are not just architecturally unique but also present unique challenges for insurance providers. Types of non-standard construction include:

• Thatched roofs: An icon of the British countryside, thatched roofs require regular, skilled replacement.

• Timber-framed homes: These homes need extra care due to the material's susceptibility to fire and rot.

• Steel frames: Although durable, they are expensive to repair or replace.

• Flat roofs: These have a higher risk of water damage due to their design.

• Modular homes: These require specialist maintenance due to their unique construction methods.

• Barn conversions: Often using a mix of old and new building materials, or made with non-standard materials, these homes need special insurance considerations.

Why do I need specialist cover?

Choosing specialist cover for your non-standard home is crucial for several reasons:

• High rebuilding costs: Unique materials and construction methods can be more expensive to replace or repair.

• Increased maintenance: Some non-standard homes require more upkeep, which insurers take into account.

• Full disclosure: Insurers need to know the full legal and personal circumstances of your home to provide appropriate cover.

📣 Did you know? Rebuilding costs, such as the price of raw materials and labour costs, rose by 21% since 2022 according to The House Rebuilding Cost Index (HRCI).

What types of non-standard insurance are there?

When insuring a non-standard property, you have several options:

• Contents insurance: This protects your personal belongings and can be influenced by the home's construction and location.

• Buildings insurance: This is crucial for covering the structure of your home. It's based on the rebuild cost, which doesn't include the land value.

• Combined insurance: Offering both contents and buildings insurance, this can be a cost-effective solution for many homeowners.

What is the rebuild value?

If you own a non-standard home, it’s probably wise to get a surveyor to assess the rebuild value. Estimating this incorrectly could leave you underinsured or overpaying. You will need a rebuild cost when you look for property insurance.

A professional assessment ensures that your insurance cover matches the true cost of rebuilding your home. There are also several free rebuild calculators you could use to give you an idea of the total cost, such as from The Association of British Insurers (ABI).

How much is non-standard insurance?

The cost of non-standard home insurance can vary widely. Factors that influence the price include:

• The location of your home

• The age and size of the property

• Security features installed in the home

• The materials used in the construction

• How the home is used, such as for business or as a holiday let

• If you have any additional add-ons such as legal expenses

• If you will live in the property or rent it with landlord insurance

What are some additional policy features?

When crafting your non-standard home insurance policy, consider these optional extras:

• Accidental damage: Cover for those unexpected mishaps.

• Home emergency cover: For urgent issues that need immediate attention.

• Legal cover: For legal costs arising from property disputes or other home-related legal matters.

How can I cut the cost of non-standard home insurance?

There are several ways to reduce the cost of your non-standard home insurance:

• Build a no-claims discount over time.

• Pay your home insurance premium annually rather than monthly.

• Ask for a higher excess: A higher excess can lead to lower premiums but be sure to choose an excess amount that you can afford in the event of a claim.

• Improve security: Installing a burglar alarm and better locks on doors and windows can make a difference.

• Install smoke alarms throughout the property.

Where to find the best deals on non-standard home insurance

The key to finding the best deals on non-standard home insurance is to shop around. Comparison sites like MoneySuperMarket allow you to compare a wide range of policies and find the one that offers the best cover for your unique property.

Protecting a unique home shouldn't be a liability. With the right non-standard home insurance, you can ensure peace of mind, knowing that your property is as well-protected as any 'standard' home.