🇦🇺Australia

Fehlentscheidungen bei der Versicherungssumme historischer und besonderer Gebäudewerte

Updated: Feb 20262 verified sources

Definition

Many B&Bs are located in heritage or character buildings with unique fittings and antique furnishings. Specialist commentary on insuring B&Bs notes that standard building property forms often do not adequately cover contents of a residence, works of art, antiques or rare articles, which may require separate inland marine or personal property policies and agreed values.[4] Accommodation insurers also highlight that B&Bs require building protection that recognises heritage building considerations.[2] Owners who treat such properties as standard homes or fail to separately schedule valuable contents can face substantial uninsured losses when a fire or major event damages both the structure and high‑value décor. Additionally, building code upgrades (e.g. to meet modern fire and accessibility standards) after a partial loss can significantly increase rebuild costs beyond original sums insured, leading to out‑of‑pocket expenditure. Industry experience suggests that heritage and character properties are commonly underinsured by 20–50% on true replacement cost once code‑upgrade and heritage constraints are factored in (logic based on valuation studies and insurer commentary on underinsurance in specialty buildings). For a B&B with an effective replacement value of AUD 2 million (building and specialised fit‑out), a 30% underinsurance translates into a potential uncovered gap of AUD 600,000, even before considering antique contents.

Key Findings

Financial Impact: Logic estimate: Typical underinsurance of 20–50% on a AUD 1–3 million heritage B&B asset implies uncovered losses of AUD 200,000–1,500,000 after a major event; unscheduled antiques and décor can add tens to hundreds of thousands more in uninsured losses.
Frequency: Medium prevalence of underinsurance among heritage B&Bs; major claim events are infrequent but high impact when they occur.
Root Cause: Use of standard home insurance valuation methods for commercial heritage properties; failure to obtain professional replacement cost assessments; lack of inventory and appraisal for antiques and specialty décor; insufficient ordinance or law/code‑upgrade cover.

Why This Matters

The Pitch: Australian 🇦🇺 B&Bs operating in heritage homes frequently underinsure by 20–50% on structure and contents, losing hundreds of thousands of dollars on code‑upgrade works and unique interiors after fires or storms. Specialist valuation tools and tailored accommodation insurance can close this underinsurance gap.

Affected Stakeholders

Owners of heritage B&Bs and guesthouses, Farmstay operators using historic homesteads, Insurance brokers without deep heritage valuation experience, Property valuers advising hospitality businesses