The classification and protection of heritage assets in Europe varies from one country to another, from Protected Structures in Ireland to Listed buildings in Sweden and Monument Historique in France. In all their shapes and forms the formal legal designation of a historic building by national government means that there are responsibilities on private owners to maintain the character of the building and preserve it for future generations.
Building costs for repair or reinstatement are usually much higher for historic buildings than standard buildings because they usually require specialist materials, builders and craftspeople. This is particularly true for any protected buildings, where you have an additional legal obligation to maintain and protect the architectural heritage.
It is important not to under-insure a historic property by undervaluing the re-build costs.
Historic buildings are almost always more expensive to repair or reinstate than standard buildings and the re-build value you give to your insurer needs to be as accurate as possible. If you inadvertently underinsure a building the insurer is entitled to reduce the claims settlement proportionately which means that in the event of a claim the full cost of reinstatement or repair will not be covered.
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