Decommission wood burning Stoves to save money on thatched cottage insurance
Wood burning stoves have been getting a lot of press recently criticising their environmental credentials, but if you live in a thatched property there’s even more to worry about. Up to 80% of thatched houses now have wood burning stoves fitted, but insurance companies have recently increased their premiums on properties with wood burners.
On average, thatched home owners are seeing a 30% increase in their premium, so for example, a home owner with a wood burner installed who was previously paying £1000, will see an increase to £1300 per year. However, if the wood burner is decommissioned, that original £1000 premium could actually drop to £700, so the real comparison £700 against the £1300 – an effective saving of £600 per year.
Steve Graham, the Managing Director of Thatch Shield Ltd, a specialist arranger of thatch and period property insurance, has recently assisted clients to decommission their wood burners, making savings of up to £600 per policy. He said, “I had a case recently where the client had 3 wood burners in the house making it virtually impossible to get an insurance quote until they made the hard decision to decommission 2 of the wood burners and extend the chimney on the remaining unit.
“Despite his house being stunningly beautiful, he realised these wood burners effectively exposed him to being uninsurable.”
Thatch Shield are being contacted daily by thatched property owners looking for help and advice about decommissioning their wood burning stoves to reduce their insurance costs. Steve said, “Once they know the statistics and the dangers, they are more than willing to decommission their stoves and go back to central heating and open fires.”
Make sure your thatched or period home is properly insured – if the worst was to happen, losses typically start at £100K, the average being closer to £500K, but with some claims closer to £1M, it really does pay to ensure your home is arranged by Thatch Shield Ltd, your thatched and period home specialists.
Date added: 27 February 2019