As the name suggests, non-standard home insurance is when the policy that you need sits outside of the normal parameters set by an insurer. There can be several reasons for this, some personal and some due to the construction or location of your property.
| Property: Non-Standard Construction Timber framed buildings Buildings with a flat roof Thatched properties Prefab homes Properties containing asbestos Steel framed properties Properties undergoing major renovation Property Location – Home owners with property that lies within a flood plain or a high crime area. Empty Properties – If your home is left unattended for any reason for a period of thirty days or more you will need to disclose this to your insurers. Vacation Homes – Standard home insurance does not cover vacation homes, which come with their own special risks such as rental and temporary occupancy. | Personal: Criminal convictions Previously refused insurance Insurance cancelled Too many claims filed by you or the previous owner Bankruptcy Poor credit rating You are a medium to high nett worth client |
What counts as non-standard
Depending on your circumstances and the reason for your home being non-standard the answer is likely to be yes. However, it is important to be upfront about it. If you don’t disclose your entire situation then you are at risk of being underinsured. This can lead to your claim either not being paid or not being paid to the full amount
Ways to save money on your non-standard home insurance:
Despite non-standard home insurance generally costing more than standard home insurance there are things that you can do to try and reduce your costs:
- Build your no-claims discount: You can usually get a no-claims discount if you’ve gone several years without making a claim
- Pay annually: Paying for your insurance all in one go works out cheaper than paying monthly, so it’s worthwhile if you can afford it
- Pay more excess: Asking for a higher excess tells insurers that you’re less likely to claim, so you get a lower premium
- Shop around: Get quotes from a few different insurers – alternatively you can use an insurance broker like GMi Insurance Services
- Improve security: Installing a burglar alarm, and better locks on the doors and windows, makes a difference
- Smoke alarms: Every house should have them, but if you don’t your insurance premiums will soar
The benefit of using an insurance broker for non-standard home insurance:
A broker, like GMi Insurance Services, who specialise in providing cover for non-standard household policies, means that we have relationships with the right people at the specialist insurers that cover the risks that affect you either personally or professionally. This can save you both time and money because we will know which insurer to speak to for your situation, and which insurers will offer the best cover and the best price for your particular circumstances.
What to do next:
If after reading the above information you realise that you may fit into a non-standard household insurance category, or if you have been struggling to get insurance, then you can either read our household insurance page for more information or, alternatively, call our Household Account Manager Francesca Caton on 0208 850 5531 or email us at insure@gmi-insurance.co.uk
