While historic buildings may draw a sharp intake of breath from non-specialist insurance brokers, there's a perfectly simple solution to protecting period property.
One of the crucial factors is the "reinstatement or rebuild value" of your historic property. If you buy a historic property for $800,000, how much should you insure it for? Standard insurance companies leave the calculation of the reinstatement costs to you; under-estimate and they penalize you by reducing your settlement. Not only do older properties often require authentic materials and specialist craftsmen for repairs after damage, but the work may take far longer to complete - so the insurer's allowance for temporary accommodation during the works needs to be more generous too.
Historic properties are works of art - we have a great responsibility to preserve and protect them for future generations. Yet many property owners, brokers and insurance companies are unaware of the complexities involved in insuring them properly.
So how can you ensure that your historic property is properly valued and protected? A standard “off-the-shelf” insurance policy may not be suitable - it's worth upgrading to a specialist policy that comes with the advice you'll need. As well as the extra peace of mind, this could save you money both on premiums and on claims settlement.
It's important to work with a historic property broker who will take time to assess your specific needs. And after a claim, you'll want sympathy and efficiency, not more headaches. La Playa's specialist policies provide coverage for “All Risks” including accidental damage, and we can advise on:
La Playa Private Client is your complete insurance solution, making it simple to insure everything you own and care about. Property, yachts and superyachts, high-performance and classic cars, private jets, art, wine, jewelry collections and more - alongside your liabilities.
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As an independent broker, we can advise on the best policies available - and on risk management measures including valuations, security, fire prevention and property marking - preserving the value of your property and giving you complete peace of mind. We have access to excellent terms with high net worth insurers including Chubb, Hiscox and Hartford.
Careful listening to really understand your needs and priorities
As much help as you need with completing forms to provide risk information
A discreet and complimentary appraisal* to assess the risks and ensure you have the right coverage where you need it
An independent market review - so you don’t have to shop around comparing policies, cover limits, risks covered and smallprint exclusions
Careful monitoring of the carriers’ financial strength, claims and customer service
An independent recommendation of the best policy for you - and why
Specialist policy wordings from underwriters who have demonstrated excellence and deep understanding of your risk exposures. We have analyzed a wide range of policy wordings and have selected only the best for our panel. Our advisors have a deep working knowledge of these policies
*subject to insurer availability
An intelligently designed portfolio of protection across multiple asset classes, liabilities and territories
Advice on how best to manage your risks - to keep you safe but also to keep insurance costs down
A dedicated advisor so you can speak to the same person each time.
Expert guidance on valuations, security and risk management, and connecting you with specialist advisors and suppliers
Direct phone and email access to your adviser for questions and advice.
Policy documents emailed to you - no logins and passwords to remember
An advocate beside you if you make a claim - thinking laterally to mitigate the impact, making useful connections to get you back up and running, and driving through a swift financial settlement