Previously, non-standard home insurance mainly covered listed buildings or homes with unconventional materials. Today, it includes a wider range of properties, including properties vulnerable to flooding, unoccupied status, and unique glass structures like those seen on Kevin McCloud's Grand Designs programme. Despite rising demand, some interviewed by Insurance Post noted reduced capacity and expressed frustration.
Our Chief Underwriting Officer, Aaron Woodhams, has his say in the article, noting that he’s noticed an increased demand for more sustainable, modern building materials and in things such as modular homes (HUF HAUS) and thatched-roof homes.
He explains that some desire for more sustainable building products is not the only reason driving demand:
“Non-standard methods of construction don’t necessarily mean eco-friendly, often it’s just newer materials. Flat roofs, for example, are traditionally covered with felt or asphalt.”
He also emphasizes that specialist underwriters need to avoid a “one size fits all” approach:
“...new materials such as glass reinforced plastic (GRP) or ethylene propylene diene terpolymer (EPDM) last longer, but won’t necessarily be covered by old underwriting guidelines. Specialist underwriters are needed who can go beyond a one-size-fits-all policy.”
To read the full interview on why non-standard home insurance is increasingly becoming the norm, click here: https://www.postonline.co.uk/personal/7955192/why-non-standard-home-insurance-is-increasingly-the-norm (subscription needed)
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