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Had a couple of quotes from the AA for Buildings cover on our converted barn. It turns out that the difference between putting 1800's (the original barn construction date) and 2010 (The conversion date) is about £250!
The conversion included adding new foundations and some other structural over-egging which means that subsidence is a negligible risk. There's no flood risk no land slip risk and no tree falling risk. But the AA insist that I put 1800 into the construction date and take the hit. So frankly I dont see a need for Buildings cover except for Fire only.
But Im not sure you can buy fire cover only. Anyone have any experience of getting such cover? Would my mortgagor be likely to accept self insurance for no risk items? (LTV is very small so security would still be sufficient to protect their interest) Cant remember the small print but Im guessing there's a "Must keep insured" clause in the mortgage docs...
harrumph. may be a moot point anyway. Just read the mortgage T&C's and theyre pretty clear on requiring full cover.
SO back to square one. Any underwriters out there take a more enlightened view on insuring barn conversions and take account of new foundations/building regs/code etc?