Non-standard properties by nature have unique characteristics or higher risks in association with them.
When it comes to insurance for non-standard homes, the pending cost for you policy can be quite a concern especially for home owners living in flood-prone areas.
Don’t fret though, we have provided a guide and work with a number of specialist brokers who will be able to help.
What Qualifies as ‘Non-Standard’?
Non-standard homes are those that full out of the ordinary scope of a home. This includes (but limited to):
- Home’s built of non-standard construction, such as timber or steel frame buildings.
- Home’s built with alternative materials. This can include materials such as flint, stone, straw, grass & pete or wattle & daub.
- Properties with rooves made of plastic, thatch, rubber or shingle.
- Module or pre-fabricated homes.
- Homes with a lot of flat roof space.
- Homes in a flood risk area.
- Subsided or underpinned properties.
- Listed buildings.
So How Is It Best To Save Money?
Like all insurance policies, there are a few key ways that you can help reduce the cost of your insurance.
Remember though, policies of this nature are tailored to a specific risk. Always ensure you are not under-insuring in a bid to save money as this can result in your being out of pocket in the long run.
Pay Your Home Insurance Annually
Paying for your home insurance annually is one of the best ways to make quick savings. By purchasing your policy annually, you avoid any interest rates that can be applied through a credit arrangement.
There is also less risk to the broker as you’ve paid for your policy, there is little to no chance of them needing to chase you for a monthly payment.
Improve Security
Lile all homes, they are vulnerable to break-ins and burglary. Unfortunately, this is a stat what increases for homes that are of higher value or ‘high-net worth homes‘.
By increasing your homes security, you better prevent your home from being burgled. Preventing a burglary prevents a claim and as such, helps reduce your insurance costs.
Things you can do in this area consist of:
- Improving lock security
- Installing alarms
- Installing CCTV
- Installing motion detector that issue a warning to any would be intruder
- Install flood lighting
Shop Around & Compare
Not all brokers can quote and cover all risks competitively. That’s why it’s important to shop around for quotes.
Our agents can help you compare insurance policies quickly and easily. Our free to use service will help you:
Build Up Your No Claims Bonus
Building up your no claims bonus is a sure way to help reduce the cost of your insurance.
By not claiming on your policy, you present yourself as a safer risk and therefore, less chance of the insurer loosing their money.
Install Property Protection
Where your home is at risk of adverse natural disasters such as flooding, installing certain devices will help reduce your costs.
For instance, if you like in a flood risk area, installing a sump pump or automatic systems to repel water can help. This can be a little more difficult if you like right on the edge of a river bank but where areas are prone to lighter flooding, than these are good options.
Reduce Extras
When you look at your policy document, you may find you insure things that you simply don’t need to insure.
For instance, you may have a travel insurance bolt on. If you don’t travel though, this will be a pretty irrelevant addon. Removing un-required addons can be a great way to easily reduce your policy cost.
Increase Your Excess
The excess is the amount you pay in the event that you need to make a claim. It is your contribution to the cost of the claim itself.
By increasing your excess, you are showing that you are prepared to pay more in the face of a claim.
It is though very important to ensure you can cover the cost of any excess amount otherwise you could be left unable to claim as you can’t meet your excess requirements.
