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Why are thatched roofs so expensive to insure?

Journalist: Tom Haynes, Daily Telegraph

ended 16. February 2024

Been sent some research showing that apparently thatched roofs are murder for your home insurance premiums. 

Some new stats out from compare the market show that premiums for thatched roofs went up by 50pc - way more than other roof types.

Roof materials

Home insurance premiums increased for properties with all types of roof materials in the fourth quarter of last year. Homes with common roof materials have seen significant jumps on the same period last year, including asphalt (27%), concrete (28%), slate (33%), and tile (32%). Homes with thatch rooves have experienced the largest increase of 56%, climbing from £1,272 in the fourth quarter of 2022 to £1,985 in 2023.

Roof materialAverage premium Q4 ‘22Average premium Q4 ‘23Increase
Asbestos£271£302£31 (11%)
Asphalt£176£223£47 (27%)
Concrete£152£195£43 (28%)
Corrugated iron£203£244£41 (20%)
Shingle£236£308£72 (31%)
Slate£152£202£50 (33%)
Thatch£1,272£1,985£713 (56%)
Tile£144£190£46 (32%)
Felt on timber£205£251£46 (22%)

Keen to get some more context as to why thatched rooves are so expensive to insure - and if anything happened in 2023 in particular that has led to such a massive jump.

Some interesting points here: https://www.howdeninsurance.co.uk/private-client/resource-hub/why-are-thatched-home-insurance-premiums-rising/

4 responses from the Newspage community

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Editor
Darryl Dhoffer
Founder at The Mortgage Geezer
Thatched roofs main consideration for insurers is the increased fire risks, The natural materials used are highly flamable, and a fire can spread quickly and be difficult to extinguish, translating to a higher chance of significant damage, and expensive claims for insurers. Minor repairs require skilled craftsmen and are limited in supply, commanding higher prices. Location also plays a role, with higher lightning strike risks or prone to wildfires, all add to higher insurance premiums. Climate change and extreme weather conditions certainly for 2023, could be a factor for higher insurance costs
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Editor
Michelle Lawson
Director at Lawson Financial
Thatched roofs will be expensive to ensure due to the fire risk that they pose. They are also expensive to maintain in comparison to other roof types. That said, most insurance premiums have increased significantly in recent times and, as always with insurance, it is the risk factor that is determinate.
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Mark Robinson
Managing Director at Albion Forest Mortgages
I think a lot of focus has been put on flammable construction in the last few years, and Thatch is obviously up there as one of the most flammable.
The unfortunate truth with insurance is that it is all risk based and the higher the risk, the higher the premiums.
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Gary Bush
Financial Adviser at MortgageShop.com
Thatched roofs have always created concerns for both mortgage lenders and insurers - when applicants raise such with us we always provide an analogy based upon the 3 Little Pigs story. Do you "really" want the fear of the next storm taking your roof with it, pests eating their way through it, the next Guy Fawkes Night burning the house down from a stray rocket, more regular ongoing and costly maintenance bills, and of course getting a dearer mortgage rate/more expensive house insurance premiums because of your dream thatched cottage. We often quote they are lovely to look at but not to own in our experience - who, other than a famous pig, wants a house part built with straw?