Advice on Tenement Building Insurance Through Factors

missile

bctech wrote: »

James Gibb factors increased ours from £74/quarter (£296 p.a.) to a whopping £305/quarter(£1220 p.a.).Per flat.
Apparently it would cost nearly £6,000,000 to rebuild our Glasgow tenement.
Oh I forgot £1,360,000 of that figure is for alternative accommodation/loss of rent.
Which works out at £170,000 per flat just for alternative accommodation.
I don't believe they would pay out anything near these figures, so why do we have to pay the premiums on such ridicules amounts?

I found out (now our ex Factor) PMC were charging a mark up on our insurance premium. Perhaps Janes Gibb do the same?