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Buildings Insurance - how is it calculated?
Posted: Thu 24 Apr 2014 6:02 am
by squashmad
Does anyone know how buildings insurance is calculated in the TRNC?
I am assuming it is based on m2 but is it £300/£400/£500 etc per m2?
Re: Buildings Insurance - how is it calculated?
Posted: Thu 24 Apr 2014 4:34 pm
by kevnmax
not too sure but last year mine was just under£2 a sq meter
Re: Buildings Insurance - how is it calculated?
Posted: Sat 26 Apr 2014 5:24 am
by squashmad
Hi kevnmax,
That does not sound right £2m2? That means if your house is 150m2 and collapses for any reason you will only get £300 to cover the cost of a rebuild
I think you are under insured!
Re: Buildings Insurance - how is it calculated?
Posted: Sat 26 Apr 2014 7:05 am
by ozankoys
I think you are at cross purposes here! squashmad presumably you asking for £m2 rebuilding cost to calculate insured value?
Re: Buildings Insurance - how is it calculated?
Posted: Sun 27 Apr 2014 12:54 pm
by squashmad
Ozankoys,
Yes I am and on re-reading my original post I see that I have not explained myself properly!