Nationwide monitoring of thatched fires reveals that there are between 60 and 70 serious thatch-roof fires recorded annually, and the figure is rising. Which is why non-specialist insurers tend to hit owners with punitive insurance premiums.
Peter Anslow, Director of The Listed Property Owners Club said: "We realised that a high percentage of phone calls to our listed property hotline over the last five years were from owners shocked by the rising costs of insuring their beautiful thatched homes.
"It occurred to us that we could bring the right people to the table to build a unique solution. I’m delighted that our position in the sector has allowed us to come up with a product that will reduce the chance of a major thatch fire and substantially reduce our members’ premiums."
The new Thatch Fire Detection Insurance product is available through Lark Insurance Broking Group, the specialist listed building brokers, and Prestige Fire Detection, a well-respected national provider of fire alarm systems for listed properties (the same method of detection is employed in Shakespeare’s Globe Theatre – London’s first thatched roof building since the Great Fire).
It is guaranteed to reduce Lark’s insurance premium by as much as 40% for a detached property with a wood-burning stove – EACH YEAR.
The system costs less than £600 to install (with an annual maintenance and 24-hour remote monitoring charge of £150). With an insurance discount of up to 40% the cost is almost recovered in the first couple of years, with substantial savings beyond.
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