Why Correctly Insuring Blocks of Flats is Vital

by Susan Paige on May 29, 2019 · 0 comments

In the UK, the number of flats among homes – and the people living in them – is rising quickly. According to the government, one out of eight people in England alone dwells in a flat. Moreover, with the global populace being predicted by population experts to rise from the current 7.6 billion to 9.8 billion in 2050, it is very likely that more and more people are going to get used to living closer together.

These are some of the facts about flats that we learned when we went to Deacon, the blocks of flats insurance specialist. Interested in finding out what else we learned?

Let’s start by saying, it has become ever more important to make sure that everything is in order when it comes to insuring these behemoths. The risk of water damage, fire and storm damage, to name just a few is always higher – the higher the building rises! That’s why choosing the correct insurance product is vital and why seeking professional advice is so important.

What if the building was under-valued? An easy mistake to make without professional advice. In the event of a claim, the insurer could reduce the claim in proportion to the under-insurance. Naturally, most policies make provision for the buildings declared value to increase over time, but if the original value is wrong, that’s not really a good starting point.

Add to this the need for liability insurance, professional indemnity insurance and legal insurance and it’s clear to see this is a minefield you do not want to traverse alone. These are just a few reasons why getting professional advice when it comes to such insurance products is vital.

Now for something completely different! Read on for Ten Trivia Facts You Didn’t Know About Flats.

  1. It started with the Romans

Something many history teachers skipped past in class is the fact that the first apartments were constructed in Rome. Dealing with population growth in 100 BC, Roman engineers had to construct sturdy, high-rising structures to make sure people had places to live in. They used lime and volcanic sand to make concrete and created bricks with specific measurements to build standardized structures.

  1. A Tale of Two Jungles

In Milan, The Bosco Vertical are two apartment buildings that merge the spirit of the concrete jungle with that of nature. More than 20,000 trees and plants grow and wind through these two buildings, creating a “vertical forest” where residents can enjoy the benefits of living with greenery all around them.

  1. Gone and Forgotten

When Marthe De Florien, a famous French actress, fled her Paris flat just before the beginning of WW2, her landlord was absolutely unaware. And in the seventy years that passed before he died, nobody else knew either. Upon his death, when his estate was valued, the flat was found untouched, like a preserved piece of time.

  1. Transforming Towers

First, there were shapeshifting humans and cars; next, buildings. In 2020, the first rotating and shapeshifting block of apartments designed by the architectural firm, Dynamic Group, will be opened for residence in Dubai.

  1. Do You Even Recycle?

In recent times, many of our historic buildings in the UK have been saved from decay and demolition by being “recycled” for residential use. In London, the Battersea Power Station and the Hoover building were converted to apartment buildings, just as with the BBC Television Centre at White City. With the continuous demand for apartment buildings, this is likely to keep happening.

  1. Train Station or Apartment Building?

In the mega-city of Chongqing, China, the engineers had to choose between having railway lines and building flats. Their answer? They built apartment buildings that allowed trains to pass through them!

  1. First Above, Then Beneath

Going in a totally different direction from the Romans, Mexico City is working on plans to build a 35 story pyramid that goes upside-down! And in Rio De Janeiro, proposals are in place to create a more realistic version of Atlantis with Aequorea – an underwater city.

  1. Comparing Sizes

Measuring only 50 feet, the smallest two-bedroom flats can be found in Wuhan, China, while the largest apartment building can be found in Sao Paolo, housing more than 5,000 people. In 2020, the Jeddah Tower will be the tallest building at over 1,000 meters. It will displace the current king and tallest building in the world, the Burj Khalifa, which stands at 828 meters.

  1. An Expensive Abode

According to deacon.co.uk, London is the most expensive city to live in the UK. Costing £7,090 per month, it is followed by Brighton, Edinburg, and Oxford at £5,000 per month, while residents of Southampton can make do with £3,000 per month.

  1. Feudal Systems in 2019?

In Scotland, feudal systems of land ownership were abolished in 2004. But in England, this system is still going strong. This means that homeowners or renters must be careful never to miss a mortgage or service payment, or they could lose their flat, even if they have been paying for a long time.

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