Introduction -
to many people mention, the word
townhouse and they will immediately think of London and the beautiful Georgian
terraced townhouses and squares that are located in the capital city.
Obtaining insurance for this type of property, should pose no problem at all,
unless of course the property is being used as a second home in which case
many insurance compiles will not quote or if it has listed building status
which of course will have to be declared to any insurance company as material
underwriting information. Almost always built of brick or stone this type of
property has achieved iconic status in the United Kingdom and is now popular
with not just city dwellers but is being seeing as a sensible construction
option to the countries diminishing building plots.
What is a Townhouse? -
The definition of townhouses are
oddly diverse dependent on what part of the world you are from but
historically in the United Kingdom, and in many other countries, a townhouse
(literally a house in a town) was the residence of an important wealthy person
or member of the aristocracy in the capital or major city. These people would
have larger grander houses in the country and the townhouse was simply
somewhere they stayed when in town often during the social season. The
properties were arranged on several floors allowing for living space by the
family and often a number of servants. As in most cities, space was at a
premium so these properties were not detached like out of town properties but
were characterised by the fact they were identical to their neighbour and
shared common walls. it is only in relatively modern times that these
buildings have become gentrified and are much sought after by city dwellers.
Construction Methods -
In recent years, the townhouses
have been enjoying a bit of a renaissance, mainly for the same reasons of
space that were behind their introduction several centuries ago. Space is at a
premium, not just in cities but the length and breadth of the land. Builders
and construction companies are faced with diminished land supplies and what is
left is commanding very high prices, thus economic use must be made of what is
available. Simply, more townhouses can be constructed per square meter than
almost all other property types bar flats and apartments. This flexible multi
floored living accommodation is proving popular with many growing families who
like the multi floor layout and local planners are also keen as more can be
built in smaller spaces.
Insurance for Townhouses -
Why are they popular with
purchasers, one of the main features of this type of construction is the fact
they are generally very low maintenance, often garden space is at a minimum
thus long weekends cutting the lawn are dispensed with. The modern townhouse
is now constructed over two floors although many construction companies offer
a third floor. Often the living accommodation is constructed above a
garage. When requesting your townhouse insurance quotation, you will
need to provide certain information such as the risk address postcode and the
rebuilding cost of the property. The actual rebuilding cost does create a
great deal of confusion as it is often mixed up with the selling cost or value
of the home. The rebuilding cost will usually be stated on survey and will be
the minimum you will be required to insurer for to satisfy your lenders
conditions. Keeping adequate insurance place throughout the lifetime of your
mortgage loan will be a demand that your lender will impose on you. To satisfy
the contract rights act, they will want their interest noted on the townhouse
insurance policy .
Assetsure provide overseas property insurance and holiday home insurance for the
following countries:- Australia,
Austria, Belgium, Brazil, Bulgaria, Canada, Cape Verde, Croatia, Cyprus, Czech,
Denmark, Egypt, Estonia, Finland, Germany, Greece, Hungary, Iceland, Italy,
Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Morocco,
Montenegro, Netherlands, Norway, Poland, Portugal, Ireland, Romania, Slovakia,
Slovenia, South Africa, Sweden, Switzerland, Thailand, Turkey, United Arab
Emirates.
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Copyright Assetsure Limited 2007
Townhouse Insurance