High Value Buildings Insurance: Protecting Your Unique Property
February 13, 2010 – 12:24 pmYour 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. Because preserving them is crucial, owners of such prestigious property must have high value buildings insurance. It’s important that the coverage be offered on a “value for” basis. 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 actual market value. In this light, high value building insurance must be tailored to showcase the unique value of the property.
