21 December 2015 - Buildings should be insured for their reinstatement value which includes the costs of demolition, rebuilding and professional fees etc.If a building is under-insured, the insurers may apply 'averaging' to any claims. For example, if your building is insured for say £80,000 and the insurers collect that the correct reinstatement value should be £100,000, then any claim payout, no matter the amount, will be reduced by 20% to match the level of under-insurance. This will apply to all claims, not just those for a complete rebuild after extensive damage.If you are over-insured you may be paying too high a premium, any may also have reimbursement claims against you where tenants are being charged for insurance costs.It is therefore essential that your property is properly covered. Whilst your policy may index link the sum insured, it is essential that a measured reinstatement valuation is carried out by a surveyor or architect every 3 years, and sums reviewed annually by a desktop update.
WE NOW PROVIDE A WEB ONLY SERVICE FOR JUST £395.00 + VAT
At the beginning of November 2015 we went live with a new package to help prospective sellers. Our WEB ONLY service. Whilst our traditional agency remains a core part of our business which has been tried and tested over 80 years, we appreciate the internet creates different opportunities. This option is ideal for clients who feel comfortable in running some aspects of the sale process on their own. In doing this we can give customers across the Fylde, Web Wide coverage and marketing from a trusted and established local agency. We have designed a simple process and package which in most cases is more price competitive than the leading 'online' estate agents and yet gives you the coverage you need. This is by giving you access to leading online portals such as Rightmove and On The Market.
CONTACT THE OFFICE AND SPEAK TO ONE OF OUR STAFF MEMBERS FOR FURTHER DETAILS AND TO ARRANGE YOUR HOME CONSULTATION.