Home Insurance

Castleacre provide tailored home insurance for town and country houses, historic and listed buildings and bespoke new build properties. Our clients benefit from a personal relationship with one dedicated insurance advisor who will give you independent advice and arrange property insurance which matches your needs.

Home Insurance for Private Houses

Your home is probably your most significant personal investment so your home insurance should give you exactly the comprehensive protection you expect.

We understand the special risks involved with listed and historic properties and estates. Castleacre can also help insure properties which are being renovated or re-developed and we can provide specialist cover for high-value building works. We can arrange insurance for multiple properties under one insurance policy providing straightforward comprehensive cover.

We also arrange insurance for the owners of homes who take in paying guests, let their property, open their house and gardens to the public or own more than one home within Europe.

Our Property and Contents cover:

• We can source a single all-risks home insurance policy for all your properties and contents
• Home Insurance policies can be extended to protect the owners of houses who occasionally let their property, take in paying guests, or open their doors to the public
• We work solely on your behalf and in the event of an insurance claim we are there to help you achieve a swift settlement
• You always have access to one senior insurance advisor

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Listed Building Insurance and Period Property Insurance

Castleacre specialise in arranging listed building insurance and period property insurance for historic buildings within the United Kingdom, Ireland and Europe.

There are over 370,000 buildings which are listed in England alone and the vast majority of these and other listed and historic buildings in the United Kingdom, Ireland and Europe are in private hands. Anyone who lives in a listed, historic building or protected structure usually regards ownership with a mixture of pride and obligation – listed buildings are protected by law because they are of national importance and are often architecturally outstanding, historically significant or within an area of special conservation.

There is no doubt that owning a protected, listed or historic property is a tremendous privilege but it also imposes additional responsibilities on owners. In 2007 a leading heritage insurer found that 55% of listed buildings were underinsured, which is why we take the time and trouble to appraise each listed property we are asked to insure with care and consideration.

If the worst does happen it is very reassuring to know that your cover has been carefully tailored to your property and that you will receive the compensation you need to reinstate your home.
(see Case Histories to find out what a difference an ‘All Risks’ policy can make)

Listed Building Insurance

What can we offer the owners of Listed Buildings and Protected Structures?

• Accurate Building Valuations and Surveys
  We work with specialist surveyors to accurately identify the re-build costs of a listed building so that if owners do need to make a claim they know that they will receive the right compensation and will neither be under nor over-insured. Replacement sums insured must take into account the extra cost of having to re-build in identical materials and the necessity of employing specialist builders and craftspeople to reinstate a listed building.
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• Archaeological costs
  We can arrange cover which will take into account the possibility of archaeological surveys either as a result of authorised renovations or extensions or because of an insured event.
• Protection for Buildings Open to the Public
  We can offer additional protection to owners who open their building to the public with an ‘all risks’ policy that can include theft, accidental damage and public liability should anybody be injured while visiting or working at your property
• Cover for a Listed Property undergoing Renovation
  Authorised Renovation, repair or extension of listed property can make it more vulnerable to risk and owners can sometimes find it difficult or expensive to arrange adequate cover. We can help tailor cover during building works even if your property is temporarily unoccupied.

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Tailored Insurance for Rectories and Listed Buildings

Rectory Insurance designed for the owners of Rectories, Vicarages, Manses and Parsonages.

As a sponsor of the Rectory Society, we understand the pleasures and pitfalls of owning one of the UK’s many splendid Rectories, Vicarages and Parsonages.  Owners sometimes find that property and contents insurance can be complicated by listed building status and the fact that their home and garden is occasionally open to the public for village or church events.

Using our knowledge and understanding of listed buildings and period property we have worked with insurers to develop bespoke cover to help mitigate the particular risk that owners of period Rectories, Vicarages, Parsonages and Manses face.

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Estate and Agricultural Property & Business Insurance

Tailored all risks insurance for Landowners

Estate and Agricultural Property Insurance

Farms and large estates have diversified revenue streams beyond pure agricultural production. Farm shops, restaurants, plant nurseries, property letting, wind farms, and other commercial and social activities, including public events and open days, can all be part of this mix.

We work with land agents and other specialist advisers to review your business, taking into account the different assets, property, liabilities, regulations and land management issues.

Commercial agricultural insurance policies will vary widely from business to business and we will adapt policies and cover to suit individual businesses and landowners.

We can offer combined cover within one policy or individual cover for specific risks depending on your preferred solution.

Country Estate and Farm Insurance Brochure

Life Insurance

Life Insurance helps mitigate the impact of  Inheritance Tax and helps protect your family if the worst happens

While only one in four families will pay inheritance tax, for those who do fall into this category it can be a source of frustration and worry. Most of us will consider taking out a life policy when we buy our first home or start a family but life insurance policies can also help mitigate inheritance tax.

A life insurance policy is designed to provide a lump sum to your beneficiaries on your death. This lump sum can be used to pay off a mortgage, provide an income for your family or settle an inheritance tax bill, crucially if it is held in trust your family can access it immediately. At a particularly difficult time, during bereavement, a life insurance settlement offers financial security and reassurance.

The Inheritance Tax Burden

If you leave your estate to your wife, husband or registered civil partner there is no inheritance tax payable, but if you leave your estate to your children, grandchildren or other loved ones then inheritance tax is a consideration.

Currently, inheritance tax is only paid on an estate that exceeds £325,000, anything above this is subject to a substantial 40% tax rate. If you are married or in a civil partnership, then both partners can pass on their nil rate band of £325,000 to their heirs so the total tax-free allowance increases to £650,000. If you pass your main residence to children or grandchildren there is additional tax relief of £175,000 (providing your estate is valued below £2 million) and again this is doubled if both you and your partner die and pass on to your direct descendants. Even taking this into account, high property values in the UK mean that many more families are landed with inheritance tax bills that run into thousands. The government website provides a useful guide on inheritance tax.

If you have paid tax throughout your life and carefully set aside savings and capital in the hope of passing it on to your children, it can feel unfair to burden them with a hefty inheritance tax payment. Inheritance tax is due before probate is completed and within six months of your death. The only exception to this is assets tied up in property (HMRC accept that money held in property takes time to release) but there is still an obligation to pay a proportion on account. If inheritance tax is not paid within the six-month time frame, HMRC starts charging interest, even if you have agreed to spread payments.

Inheritance Tax Mitigation

Some people feel the best option open to them is to give the bulk of their assets to their children before they die but you must survive for at least 7 years, otherwise, gifts will still be subject to inheritance tax.

Other sensible options to help reduce the inheritance tax burden are:

• leaving a legacy to charity
• placing your assets into a trust for your heirs
• leaving your estate to your spouse or civil partner
• giving away up to £3000 in gifts to your family every year.

 

How Can a Life Insurance Policy help with Inheritance Tax?

Life insurance policies offer an alternative option to reduce your inheritance tax burden. There are several forms of life policy and they all offer something slightly different with of course variations in cost.

Term Life Policies

These policies offer one of the best economic solutions for most families. Term Life policies will cover death or critical illness for a limited period. People often take out a term life policy when they are in their twenties or thirties to cover mortgage costs and income for their family and a policy might typically last for around 25/30 years. There is no limit to the number of term policies you can run simultaneously. Each policy is completely distinct so if a policy expires as you reach 65 years old you can take a new term life policy for a further 10, 15, 20 years that potentially covers inheritance tax costs for your children.  If you ensure that this money is held in a discretionary trust on your death it will not be included as part of your estate. Holding the money in trust for your heirs also means that the lump sum can be paid before probate is completed.

One of the difficulties of taking out a term life policy when you are older is that you may have more complicated pre-existing medical conditions but Castleacre works with an excellent panel of specialist insurers who offer cover on a case-by-case basis, even with pre-existing medical conditions.

Probate Relief Cover

Probate Relief Cover offers practical financial support for your surviving partner and family while your estate is administered

This affordable life policy provides an immediate cash lump sum of £100,000 to your surviving spouse or partner in advance of probate and before your personal accounts and assets are accessible. If you take a policy out in your 50s it can cost as little as £37 as a fixed monthly fee and will offer protection until you reach 89 providing a great option if other term life policies have expired.

Whole of Life Policies

Whole of life policies guarantee that when you die your surviving heirs will receive a set lump sum, although it is important to arrange as a  discretionary trust. Naturally enough this is an expensive option because the insurers are committed to paying out the full sum whether you die at 60 or 106. It is a high risk for insurers because there is a chance that you could die soon after taking a policy out and the insurer would have to honour the agreement with very few premium payments.

These policies, though expensive, can be cost-effective for your heirs because inheritance tax will be covered by the policy on your death (providing your assets do not increase dramatically in value) and the total payments can also reduce the overall value of your estate, indirectly reducing IHT.

Shorter-Term Inter-Vivos Policies

If your estate is subject to inheritance tax and you decide to gift a large proportion of your assets during your lifetime (known as an inter-vivos gift) your heirs will have to pay inheritance tax if you die within seven years of the gift. In these circumstances, you might choose a shorter-term life policy that covers the inheritance tax liability during those seven years.

If you would like any advice on finding suitable life insurance for your circumstances contact our life insurance advisor Ali Adham who can investigate the best options available to you and your family.

Spear’s 500 Top Recommended Health Insurance Broker 2024

Download our guide to life insurance…

Learn about Probate Relief Cover…

International Private Health Insurance is designed either for people who have a permanent home outside the UK or for those who spend part of the year living abroad.

International Private Health Insurance offers financial security by protecting against large out-of-pocket medical expenses.

Travel insurance is not suitable for an extended stay abroad because it is designed for short-term emergencies and does not cover chronic or routine care.

An International Private Health Plan provides protection if you are living and or working overseas for an extended period, providing the medical help you need wherever you are in the world (*see cover for the United States). It is essential insurance for anyone staying more than one month abroad in any given period – in fact, some countries, such as Russia, will not issue a visa without an international private health policy in place. Many other countries will also require proof of cover for residence permits.

What Cover Does International Private Health Insurance Include?

Private Health Insurance policies do vary from one provider to another. Popular international health insurance providers, including April, NOW, IMG, Allianz, AXA, and Bupa, offer a similar level of cover, but there are variations in add-ons and network access.

International Private Health Cover will normally offer:

• Inpatient and Outpatient Care, including hospital stays, surgeries, specialist visits and prescription drugs
• Emergency evacuation and repatriation when local care is inadequate
• Chronic condition management, such as cancer care
• Virtual doctor services for immediate consultations and multi-lingual support
• Mental health support
• Preventative care, including Diagnostics, Wellness, Check-ups and Vaccinations

Our knowledgeable brokers can help you find the right policy that prioritises the cover that is most important to you, and help you decide what optional add-ons you may need to include

Optional Add-ons:

• Maternity care
• Dental
• Eye care
• Cover for the United States

*Cover for the United States
Medical treatment in the United States is substantially more expensive than the rest of the world, and many international health insurance policies do not automatically include cover for the US to ensure that premiums are competitive. If you intend to stay longer than one month in the United States, it is essential to include cover as an add-on, but it will make premiums more expensive.

Independent Advice on Private Health Insurance

Private Health Insurance is notoriously complex and it can be very difficult to compare cover in different private health policies if you are not familiar with specialist terms and the real-life costs of individual treatments. This is where a knowledgeable, unbiased and experienced health insurance broker is indispensable.

Even if you already have health insurance in place we can review your current cover. Then if we find a more competitive policy we can help you move without losing any cover for pre-existing medical conditions.*

Our role as your broker is to put you and your health first and compare insurance cover objectively.

The advice we give is thorough because we have in-depth knowledge of the health insurance industry and the limitations and benefits which lie outside standard terms and conditions.

We take the time to understand you and your family and this holistic, consultative approach helps us provide you with the best health insurance options, finding cover that matches your lifestyle rather than offering generic advice that does not apply to you.

(*subject to insurer conditions)

What are the advantages of health insurance?

• Accelerated diagnosis and treatment
• Access to the most advanced treatment options
• Choice of specialists and hospitals
• Appointments made at your convenience
• Care and recovery in a private, comfortable environment

Castleacre can help you find excellent private health cover on the best possible terms

• we negotiate with insurers and tailor your policy to your precise needs
• we help you navigate through the jargon and small print in health policies
• we are allied to you and not to a particular product or insurer
• we can objectively review an existing policy
• if we can improve your cover we will help you move insurers regardless of pre-existing health conditions

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Fine Art Insurance & Valuables Insurance

Fine Art Insurance helps protects your collection against specific risks. If you own Fine Art or a Collection including Works of Art you may benefit from protecting your collection under a specialist Fine Art Insurance policy that offers important additional cover reflecting value and originality.

Castleacre understands the particular issues that surround Fine Art insurance and Specie insurance, considerations that range from defective title, protection for paired works of art and emergency removal in the case of fire and flood.

As independent brokers, we use our market knowledge to find the best fine art insurers for individual clients, galleries and museums and we ensure cover is tailored to meet the needs of each client and their collection.

We take account of changes in market value, changes in circumstance and the added complexities of replacing or restoring a valuable and unique object should the worst happen. You also need the reassurance that your cover does not just protect your possessions within your property or safe but whenever and wherever you travel.

How to Insure Fine Art, Collections and Works of Art

At Castleacre Insurance we offer

• • Fine Art insurance to cover either the market value (low/high auction estimate/retail value) or a pre-agreed value, depending on your preference
  • Work with independent specialist valuers to ensure your works of art are accurately valued for insurance
  • Worldwide Insurance cover for fine art including transit
  • Defective Title Insurance
  • Protection for Pairs Insurance
  • Advice on Fine Art Risk Management, Security and Collections Care
  • Financial compensation for Loss in Value of a Work of Art resulting from partial damage
  • Automatic temporary cover for additions to a collection

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Castleacre Director, Guy Everington explains in Country Life What you need to know about Insuring the Fine Art in Your Home 

Insuring jewellery and luxury watches

Jewellery and watches are often acquired to mark a special occasion in our life or inherited from family or friends. They are amongst our most treasured assets but the value and portability of jewellery and watches make them inherently vulnerable to damage, loss and theft. It is important these items are considered carefully as part of your contents insurance and that your jewellery is not underinsured.

Jewellery and Watch Insurance

How Can Castleacre Protect Your Jewellery?

We take the time to understand your lifestyle and find out how you want to use your jewellery. As an independent private client broker, we offer an unbiased review of your existing contents policy to help you determine if you already have the right cover in place. If we recommend a change of insurer or policy it is solely based on your personal requirements.

For example, if you want to wear your jewellery or watch with relatively few restrictions the best option would be worldwide all risks cover; Alternatively for an inherited family jewel, which you only wear occasionally the most cost-effective solution might be a policy with some restrictions on wear but cover for the piece while it is stored in an approved safe.

Jewellery can be particularly susceptible to changes in value and many people are rightly concerned about underinsurance which is why we recommend regular professional valuations.

• We can review your existing contents policy to see if you already have the right cover in place
• Work with specialist independent valuers to help you obtain accurate market values for your jewellery
• Review the insurance market to find the best contents policy for your exact needs
• Ensure you have 24/7 access to your own dedicated broker for all your queries from valuations to claims
• In the event of a claim, we look after you dealing with the insurer to ensure a swift settlement

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European Property Insurance

Comprehensive cover for European historic buildings, holiday villas, contents and fine art.

European Property Insurance

Owners of European properties are presented with a limited choice of insurance policies and cover from the local markets. Local policies can include detailed exclusions and clauses which can significantly reduce protection.

The European property insurance policies we arrange can include the flexibility for you to let your property, or take in paying guests with generous levels of public liability and legal protection. We can arrange a single policy for your home which will include protection for valuable jewellery, works of art, paintings and classic or high-performance cars.

Our European Property and Contents cover:

• A single insurance policy to cover multiple properties, and their contents, including high-value items
• Broad levels of cover and fewer exclusions than equivalent European policies
• Insurance policies are renewable annually and clients have the flexibility to cancel at any time.
• We are an independent insurance broker and not a tied agent
• We work solely on your behalf and we help secure swift settlement should a claim arise