In simple terms its better cover, more efficient and costs less.
A single insurance company deals with every property and the common parts of the Estates.
If there is a claim then there is only one company and broker involved.
The cover is suitable for every property with consistent values and rebuild costs.
The whole estate is always insured and an individual property owner can’t forget or decide not to pay.
It costs less per property for similar cover.
Less administration in gaining a single suitable policy rather than check and compare many different policies and levels of cover.
Economy of scale
The same insurance company is invited to cover all of the sites we have constructed
- Maritime Business Centre 16 units £2.5m
- Mereside – 8 units £1.45m
- Coxbridge – 5 units £1.2m
- Daedalus Park – 31 units £8.7m
We get very competitive prices on 60 units worth almost £14m
Next year we will add another 60 units worth almost £10m
- Navigator Park – 17 Units £2.75m
- Daedalus Park – 43 units £7.1m
By the end of 2018 we can get quotes to cover 120 units worth over £23m.
Surely this must get a better price than trying to negotiate a better deal for single unit worth £150,000?