Theme: Some General Info On High Value Buildings Insurance
September 2, 2010Your UK building of residence, when valued at £500,000 or more, is a high value edifice. Other than its market value, an edifice is also deemed of high value if it has architectural significance or is a recognised historic structure. Such prestigious property should be preseverd and protected, and hence its owners must have high value buildings insurance. Keep in mind that the insurance coverage should be based on the property’s value rather than its market value. This is because rebuilding these historic buildings, particularly when it has features like period staircases, would cost a lot more than the entire building’s market value. High value building insurance should be customised to reflect the uniqueness of the property.