Glasgow Tenement Buildings Insurance

Jenga12

Does anyone know how much a 2 bedroom tenement flat should be insured for? Flat was built in 1890 approx and is insured for £350k. (Ground Floor flat.Market value at moment is £155k). Is £350k enough?

agrinnall

I would have thought so - when you think that you're only insuring for your share of the total rebuilding costs, when you factor in the cover for all of the other tenements in the stair (even if they don't actually have insurance) it should be plenty.

missile

Do you not have a joint building insurance with other owners in the block?

there

I have friends life and legal general life insurance for terminal Ill and now I'm terminal ill with doctors letter saying this has well in the medical form for them to pay me out and they will not pay out , I'm fighting with them and my doctor support my claim and they just want give me my money , have taken it to the finanal ombudsman to sort , it joke they are just want your money

Jenga12

Hi agrinnall, thanks for reply.
I just asked them to increase it to £550k, before I checked your reply, and the cost went up to £500 (year). Think I need to get rid of accidental damage cover and increase the excess or just keep it as it is. It was a neighbour in the next close that got me thinking as they had cover for a million.

Jenga12

Hi missile, thanks for reply. We used to have block insurance through the factor but one fool refused to pay any factor bill. Factor stopped providing cover. It was only £200 with them but i think cover was lower, at £180k.

agrinnall

There wrote: »

I have friends life and legal general life insurance for terminal Ill and now I'm terminal ill with doctors letter saying this has well in the medical form for them to pay me out and they will not pay out , I'm fighting with them and my doctor support my claim and they just want give me my money , have taken it to the finanal ombudsman to sort , it joke they are just want your money

If you have a question you need to start your own thread rather than make a completely irrelevant post in the middle of somebody elses thread. If you just want to rant then the correct place is the Praise, Vent & Warnings board.

FlameCloud

agrinnall wrote: »

I would have thought so - when you think that you're only insuring for your share of the total rebuilding costs, when you factor in the cover for all of the other tenements in the stair (even if they don't actually have insurance) it should be plenty.

Given you haven’t seen the risk address, how can you possibly say with any certainty that it sounds plenty?

agrinnall

FlameCloud wrote: »

Given you haven’t seen the risk address, how can you possibly say with any certainty that it sounds plenty?

Because the insured amount is more than twice the value of the property, it would be very unusual for that not to be a high enough amount.