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Buyer beware!

The UK is famous for our history, and much of this is recorded in the plethora of wonderful properties which give an insight into life in bygone times. For example, the beautiful market town of Faversham in Kent alone has over 4,000 listed properties – just take a stroll down the pretty medieval Abbey Street to where it meets the Guildhall in the Market Place to enjoy fabulous architecture.

Listed properties are a treasured piece of our heritage and we need to preserve and nurture them for future generations to enjoy. The owners of these properties have a huge responsibility to maintain their buildings and often property insurance is not the matter uppermost in their thoughts! However, the reality is that insurance is of the utmost importance as it allows for properties to be cared for if the worst should happen. This is the very reason to speak with an Insurance Broker with knowledge and experience of insurance for listed buildings.

The costs of rebuilding a listed property far outweigh those of a conventional property. Just ensuring that the integrity of the building is maintained and the historical features reinstated would prove to be expensive. For one thing, you would have to find genuine materials and professional craftsmen to carry out the work. The rebuild or major works would need to conform to local building regulations and would be monitored to ensure their authenticity. Therefore, it is vital that the buildings section of the policy covers all these costs.

Where would you live should the work mean you cannot perhaps camp out in your property? Given the red tape which would be involved in keeping planners abreast of developments and the need to source specialist materials and craftsmen, the rebuild could be a lengthy business and you may need to seek alternative accommodation – another consideration when looking at insurance for listed properties.

Therefore it is sensible to talk through the options available and ensure that you have the very best policy to enable you to care for your part of the United Kingdom's heritage.

Posted on 24th February, 2010