Island Life Magazine Ltd December 2013/January 2014 | Page 108

BUSINESS LIFE

Ensure you're
fully insured!

Ratsey Bespoke Furniture

Unit 15, Northwood Business Park, 290
Newport Rd, Cowes, PO31 8PE
t. 07815 675018

The UK’s leading rural insurer, NFU
Mutual, is urging owners of listed
buildings on the Isle of Wight to ensure
they are adequately protecting the
island’s distinct heritage for future
generations.
Repairing or rebuilding such
properties following fire or other
damage can become prohibitively
expensive without the security of an
appropriate insurance policy in place,
especially as like-for-like materials and
building techniques are required.
From the charismatic Bembridge
Windmill to the charmingly quaint
Carisbrooke Castle, listed properties are
also popular sought-after family homes,
idolised for their unique elegance and
quirky character. But the ownership of
a property with ‘listed status’ can also
bring great responsibilities.
John Heather, Branch Manager at
NFU Mutual on the Isle of Wight, said:
“The costs associated with a major
incident can easily become apparent
in listed homes. Professional fees, such
as surveyors, demolition and strip out
works as well as costs of complying with
the requirements of local Conservation
Officers, English Heritage and current
Building Regulations will all contribute
to the true cost of rebuilding a listed
building.”
To ensure their properties are
adequately covered, it is important that
listed building owners are aware of what
these full costs may potentially be if the
worst happened, and to have a sufficient
level of insurance protection in place.
It is also important that individuals
double check the VAT implications
relating to any repair or reins