Insuring a Queensland heritage place

Which companies will insure my property?

The majority of insurers will cover heritage listed places. Their willingness to insure an individual property will depend on its risk profile. Factors that influence this include the location of the property, its general condition, the age of its plumbing and electrical services, and how well it is secured. Some insurers will require you to install a burglar alarm if it is not possible to fit key locks to the windows and deadlocks to the doors.

Use the Insurance Council of Australia’s ‘Find an insurer’ search facility (www.findaninsurer.com.au) and search for ‘Heritage listed properties’. This website also has information on how to choose an insurance broker.

Will my premiums be affected by heritage listing?

Your premiums will be determined by the risk profile of your property and the sum insured. Some insurers may charge higher premiums because your place is heritage listed, so ‘shop around’.

How much cover should I obtain?

Ensure your policy covers ‘like for like’ repairs

Be sure that your insurer will carry out repairs in a way that is sympathetic to the heritage values of your property. Most insurers will do their best to match original materials using equivalent new materials. However, before choosing an insurer, check their Product Disclosure Statement (PDS) and talk to them about how they will handle repairs to your property.

Do not underinsure

If you undervalue your property when taking out the policy, your insurer may not pay the full replacement cost if it is destroyed.

Also, depending on the terms of your policy, they may not pay in full any lesser claims you make.

Check the insurer’s PDS to ensure the policy covers built-in furniture, fences, out buildings and other structures you want to insure. Include these when valuing your property.

The insurer’s PDS for contents insurance will explain any special requirements applying to antiques or other valuable furniture. Have your high value items independently valued, and give this information together with photographs of the items to your insurer as proof of ownership and value when you take out the policy.

Some insurers will value your property for you. If you need to pay for a valuation, go to the Valuers Registration Board of Queensland website to find a valuer.

Do I tell my insurer that my place is heritage listed?

Tell your insurer that your place is heritage listed when you take out your policy. If you don’t, when you make a claim your insurer may refuse to pay all or part of your claim, or they may cancel your policy.

What happens if my heritage listed place is…

…totally or substantially destroyed?

If your property is destroyed and its heritage value is lost, the Queensland Heritage Act 1992 does not require you to replicate the original building.

…partly destroyed?

If your heritage listed place is partly destroyed, any rebuilding work needs to be done in a way that is sympathetic to its heritage values.

When should I contact the department?

Contact the Department of Environment, Science and Innovation for advice before making any firm plans to carry out work. This includes demolishing remains if your property is totally or substantially destroyed. Depending on the work, you may be eligible to apply for an Exemption Certificate. These are simpler and faster than development applications.

When making a claim, do I need to do anything different because my property is heritage listed?

The process for making a claim should be the same as for a property that is not listed. However, your insurer may need to employ specialists to assess the damage and carry out the repairs.

What should I do if I have a complaint about an insurance company?

If you have any disputes about the outcome of an insurance claim, contact your insurer’s internal disputes resolution process. Provided your insurer has all necessary information and has completed any investigation required, they will respond to the dispute within 15 business days of it being lodged.

If the dispute remains unresolved, or you are unhappy with the decision, you may then contact the Financial Ombudsman Service (FOS) who independently and impartially determines general insurance disputes between insurers and their customers.

You should contact FOS as soon as possible if you are dissatisfied with your insurer’s internal dispute resolution decision. Contact FOS via the Financial Ombudsman Service website.

Where can I obtain more information?

We can provide you with information about your heritage listed property and our approval processes. We can also discuss repair options if you are making an insurance claim.

Call us on 13 74 68 (13 QGOV) and ask to speak to a heritage officer.