Ecclesiastical Heritage Index
30 September 2018
The Ecclesiastical Heritage Index (EHI) is the first of its kind and is exclusive to Ecclesiastical customers. It tracks the cost of materials and labour associated specifically with buildings of a traditional construction reducing the risk of underinsurance.
Supporting our customers
What is the purpose of an index?
What are the standard indices?
There are several indices but the two common ones are: the General Building Cost Index (GBCI) for commercial buildings and the House Rebuilding Cost Index (HRCI) for domestic buildings. Like the EHI they are developed by BCIS.
“The BCIS is the leading independent provider of cost and price information to the construction industry and produce the various indices used by the financial service industry.
"The new index tracks the cost of the appropriate and specific resources required to rebuild/repair a heritage property and should help to reduce the risk of underinsurance to Ecclesiastical’s clients."
Why has the Ecclesiastical Heritage Index been developed?
Does the Heritage Index calculate a higher percentage change than the standard indices?
My building includes some rare materials. Will my premium be a lot higher?
How is the index calculated?
Will my premium go up if I’m put on the Ecclesiastical Heritage Index?
Does Ecclesiastical calculate the index?
What does the Ecclesiastical Heritage Index apply to?
- Lead and lime plaster
- Slate and clay tiles
- Stone and stone masonry.
Who does the Ecclesiastical Heritage Index apply to?
- The building is constructed using traditional materials e.g. stone, timber, slate, lead.
- The building has listed status.
- The building is located in a Conservation Area or Area of Outstanding Natural Beauty (AONB).
- The building was built pre 1920.
Why is it important?
- Inaccurate initial sum insured.
- The insurer has not been notified of any modifications made to the building.
- Untracked changes in the cost of materials which form all or part of the building.
- Taxation changes e.g. VAT
- Stone originally sourced from a quarry that has since closed. The quarry needs to be reopened or the stone sourced from an alternative quarry which could be overseas.
- Aged oak can only be sourced from a single fell yard that doesn’t have enough trees of the right age or size.
- There is only a limited number of craftsmen with the required skills and they are fully booked on other projects.