Reinstatement insurance valuation every 2 years?Make Text Bigger
Please can anyone tell me the min time period that the freeholder can legitimately carry out insurance reinstatement valuations for the building?
We have been hit with a £1600 bill in 2016 for this and then again in 2018 for £1800!
It seems very excessive to require a full reinstatement valuation every two years.
Why would this be needed ? Surely you can use some form of price index and is it not based on cost to rebuild the property not market value?
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