Building Insurance

We use our expertise and research into the needs of older people and have selected LV= as the home insurance provider because we recognise their products and customer service as suitable for our customers.

LV= can insure you if you have:

• Not made more than two household claims within the last five years
• No unspent criminal convictions (excluding motoring convictions)
  
  

LV= can't insure you if the property:

• Is occupied by tenants
• Has previously been flooded or is currently under a flood warning
• Has suffered from, or is showing any signs of, subsidence, landslip or heave
• Isn't built of brick, stone or concrete and roofed with slate, tiles, metal, asphalt
• Isn't in a good state of structural repair
• Is a mobile home
• Isn't self-contained
• Is unfurnished
• Is unoccupied
• Is a listed building or protected by a preservation order

Getting older does not necessarily mean higher buildings insurance costs. In fact, some insurers may lower the cost of your protection, as older residents tend to make fewer and lower cost claims. However, age is just one factor that determines the cost of a home insurance policy. The only way to understand the true cost is to get a quote or speak to a potential buildings insurance provider.

Typically building insurance for a listed building will be more expensive because it will cost more to rebuild in keeping with period features. LV= can’t cover your property if it’s a listed building or protected by a preservation order.

In many cases, it can cost more to insure an empty house. This is because there’s a greater risk of a break-in or damage occurring that goes unspotted, such as a leak. If you need to insure an empty house, you should speak to your insurer. The Buildings Insurance available through us is provided by LV= and can cover a home that’s empty for up to 60 days. However, some providers only allow cover for a home that’s empty for no more than 30-60 days, depending on their terms and conditions. If you fail to tell a provider a home is empty for a long period of time, then you risk invalidating your insurance.

Yes. When you apply for home insurance, you’ll be asked to confirm that the property to be insured is built of brick, stone or concrete and that roof is made of slate, tile, metal or asphalt.

Accidental damage cover on buildings insurance will cover you for damage caused to your buildings by an accident that was caused by you, your guests or your family. For example, a pan fire. Depending on the excess that you need to pay in the event of a claim, accidental damage cover could be worth getting for increased protection.

You can add extra options to your cover online or over the telephone when you get a quote or later should your needs change. The LV= team will be happy to discuss the options with you so that you can decide what additional cover you need.

If you switch your buildings insurance through us, you are covered for loss of metered water, however you aren’t covered for damage caused by negligence or lack of maintenance. It is your responsibility to ensure that high water areas such as bathrooms are adequately sealed and that gutters and roof valleys are regularly cleaned and maintained. You are covered for damage to a tank or pipe if caused by freezing, and you may be covered for escape of water caused by leaving the taps on if you have enhanced accidental damage cover.

Wear and tear to roof tiles is not covered, however if your roof is damaged by adverse weather or impact from a falling tree for example, you may be covered. Damage caused by negligence or lack of repairs won’t be covered, so it is your responsibility to ensure that your roof is in good condition.

You’ll be covered for damage caused by damp where the cause is covered by the policy, for example a storm or a flood. Where damp has been caused by lack of maintenance you may not be covered since it is the homeowner’s responsibility to keep the home in a good state of repair.

On both Silver and Gold policy levels damage caused by subsidence is covered by up to £1 million pounds in rebuild costs.

Building insurance might be required by your lender if you have a mortgage. It is not, however a legal requirement to have building insurance in the UK.

You should arrange building insurance before you buy your new property. You can usually pick the date on which the policy starts to avoid paying for buildings insurance before you are liable for the property. You should start your policy on the day of exchange. Read our full guide on this topic here.

Some people find that their buildings insurance costs are lower after retirement. As we get older, we may have perfected our DIY skills or can better notice minor issues before they become more problematic. Because of this, some buildings insurance providers may see you as a lower-risk homeowner. This may reduce your insurance costs as a result. However, this is only one factor that goes into determining the cost of your policy. The best way to understand the true cost is to get a home insurance quote.

Older properties might be more expensive to insure, depending on their age and whether they’re a Listed Building. If your home is Listed, then traditional Buildings Insurance – such as the protection available through us – won't cover the property and you’ll need to consult a specialist. Even if an older property isn't listed, it may be more likely to need repairs. These can sometimes need expensive specialist care or materials that are harder to procure, which is a reason why insurance prices might be higher.

You won’t need to take out buildings insurance if you live in a retirement home. This will be taken care of by the company who owns the building. You may want to consider contents insurance for your personal belongings, however. What cover is right for you will depend on the kind of retirement home you plan on moving to. If staff members or other residents can access your room or flat, this may require specialist cover. Our provider can only offer protection to those living in retirement accommodation that is self-contained and cannot be accessed by others.

Both Silver and Gold cover levels offer falling tree damage protection. Please refer to the policy guide for full details.

Outbuildings are covered for up to £1m in damages resulting from events like fire, flood or theft across both Silver and Gold cover levels, provided the buildings have the same postcode as your insured property.

You will be covered for floods, however your premium may be higher based on flooding data for your location.

Yes, across both Silver and Gold cover levels your home is protected from accidental and malicious fire damage.

Both Silver and Gold policy levels protect your home from extreme weather events, such as tornadoes, storms, frost and subsidence caused by hot weather. Please note that it is your responsibility to maintain your building to a good state of repair. A general rule of thumb is that the insurance will pay out if the extreme weather event has caused the damage, however if it has been caused by a poor state of repair then you may not be eligible for an insurance payment.

Damage caused by impact from a road vehicle, aircraft or train is covered across both Silver and Gold cover levels.

Defaqto are a UK leading independent financial information business, and they have given Home Gold Insurance a 5 Star Rating.

You can pay by debit and credit card or by monthly or annual direct debit at no extra charge. If you need to speak about other ways to pay, please contact the team at LV=.

'Admin fees' can include adjustment fees, cancellation fees and duplicate document fees.

Policies purchased through us will not be charged any admin fees for home insurance policy amendments, cancellations, or duplicate documents.

Auto-renewal can offer you peace of mind that your insurance will remain in place when it comes to your renewal.

When you give your consent to auto-renew your policy, LV= will issue your renewal documents, which will include details of your cover and any associated costs, and inform you that the policy will auto-renew without any need for you to make contact and confirm.

The consent will remain in force unless you change it, which you can do at any time, or if the policy is cancelled.

You'll automatically have an account if you saved a quote or if you chose to sign up after buying a policy. Visit lv.com/ageco/login  to log in to your account or set up a new one.

Your saved buildings insurance quotes are valid until the cover start date. You'll still be able to view them in your account after that point, but you won't be able to buy them. Simply start a new quote if your old one’s no longer valid.

When you saved your quote, you should have received an email from LV= with details of your quote and how to access it again. If the email isn't in your inbox, please check your spam or junk folders in case it's in there. If you still can't find it, you can re-set your password in My Account by clicking the ‘I’ve forgotten my password’ link.

Understanding our customers and their needs has always informed the products we choose and who we decide to work with to provide them. By choosing LV=, we are working with a partner that shares our values and dedication to customers enjoying their later life.

LV= is a leading insurance business offering a range of general insurance products. They are proud to be one of the UK’s largest personal lines insurers. Throughout their 180 year history, they have put people and customers at the heart of everything they do.