Specialist home insurance
Specialist home insurance
If you go away a lot, have an adverse claims history or have an unusual home, insurance providers may consider that you need specialist home insurance. Find out what that could mean for your premium.
What sorts of home need specialist home insurance?
Non-standard homes may need specialist home insurance, but it’s difficult to say what exactly counts as non-standard because this differs among insurance providers. What is non-standard for one may be straightforward for another.
Homes of non-standard construction – eg those that aren't made from brick or stone walls, and don't have a tile or slate roof – are usually considered to be non-standard properties so may require specialist home insurance.
If your house is worth a lot of money, or you have very valuable items in your home, you may need ‘high net worth’ home insurance. This provides cover for these types of items.
What other factors might mean that I need specialist home insurance?
As well as non-standard properties, other homes may need specialist insurance.
For example, the characteristics of the property, its use, the value of the contents inside or the insured person’s circumstances may be considered too high risk for a standard home insurance policy and therefore require specialist home insurance. These may include things like:
- unoccupied property
- properties affected by subsidence
- holiday homes
Individual items or collections worth a significant amount of money (possibly over £15,000, but this varies among providers).
How the property is used may also mean you require specialist buildings or specialist contents insurance.
business use where you work from your home (apart from clerical work)
bed & breakfast (guest houses) and hotels have their own specialist business insurance)
The circumstances of the person insuring the property might affect your insurance, for example where you have:
Is specialist home insurance more expensive than standard home insurance?
It can be. It depends on why your home or circumstances might be classed as special. If you have a very valuable collection at home for example, the financial risk to an insurance provider if it’s damaged or destroyed is increased. This can mean you have to pay a higher premium.
If your insurance provider sees the potential for more risk, then you may be charged more. On the other hand, if you make a claim and you haven't told the insurance provider about any special circumstances, they could refuse to pay your claim – honesty is always the best policy.
How do I know I need specialist home insurance?
You may have noticed that you get asked a lot of questions when you apply for home insurance. These are designed to root out risks that an insurance provider is happy to take on and give you a quote for.
At Compare the Market, we have insurance providers that cater for both standard and specialist home insurance. The process of comparing is simple. Once you’ve entered your details and answered some questions, we’ll show you quotes from insurance providers that are prepared to insure your home.