UK Money News
4th February 2008
Listed buildings are costlier to insure, warns NFU Mutual
The specialist nature of listed buildings means that home insurance policies are more expensive, a rural home insurance provider has warned.
According to a poll from NFU Mutual, four out of ten Britons would consider buying a listed building to live in.
However, just 37 per cent of those questioned were aware that in so doing they would have to spend more to insure their home.
The extra charge can be attributed to the vulnerability to the elements of old buildings and the unique nature of the building necessitating an on-site visit from an expert to assess its correct rebuilding value.
Laura Wood, spokesperson for NFU Mutual said: "It is a common misunderstanding that the rebuilding cost of a listed property has any correlation to its market value.
"On occasions the rebuild cost can in fact far exceed its market value. Per square metre, rebuild costs can sometimes be four times greater than an average modern [post war] property."
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