About the property:
Josua Medieval Living Maldon, Silver Street, Maldon, Essex CM9 4QE
“Josua Medieval Living Maldon” is a stunning 4-bedroom Medieval holiday home nestled in the heart of Maldon, equipped with ensuite luxury, a study fit for a fifth bedroom, banquet dining, games galore, and ancient artefacts. Josua invites you to step back in time while enjoying modern comforts.
How we helped the client:
Our client had previously insured this dilapidated building on an unoccupied property policy, but in view of the extent and value of the works, together with the property being built in 1400 and grade 2*, it was agreed that a Renovation policy would be a more suitable method of insuring the property to protect the client’s interests.
Due to the age of the property along with its non-standard construction of lathe and plaster with a timber frame reflecting the listing of the property it was not a straightforward project. The project was originally anticipated to take 8 months with a budget of £350,000. As the majority of projects overrun, it is always sensible to factor in a contingency period to allow for delays that occur due to a variety of reasons; for example, uncovering historic features which result in revised plans that need to be drawn up and discussed with the Conservation Officer as well as delays with the supply of building materials, which are more common post-pandemic. As such, our client agreed to include a 4-month contingency period to allow for this.
The project was designed to restore the property to its former glory while continuing to retain its original features to comply with the constraints of a listed building, and insurers were provided with a full specification of works as part of the quotation process.
As is the case with the many of projects, a further extension was required for 2 months to allow the work to be completed. In addition, our client kept Clara informed as to increases in costs throughout the project, so the works sum insured was adjusted as the project progressed to ensure the sum was always accurate, avoiding any issues with under-insurance in the event of a claim. By the end of the project, the contract sum had increased from £350,000 to £800,000. Both this and the extension had premium implications, but our client understood that this was necessary to ensure the building was insured correctly and there wouldn’t be any issues in terms of coverage if a claim should occur.
We hope you agree that the finished project looks fantastic and worth a look if you fancy a stay in this beautiful historic property.
How Clara can help you:
We understand that arranging building works can be complicated and stressful with lots of factors involved. Clara is here to assist you and answer any questions you have. Contact her today…
E: clara.boyce@greeninsurance.co.uk
T: 01424 612423
www.linkedin.com/in/clara-boyce-acii/
