Friday, Dec 08, 2006

Insurers getting hit hard too

Telegraph: The devastating 20-second tornado

So, overinflated house prices are bad for FTBers, and anyone else trying to upscale. But once you've got a house valued high, insurance companies have to stump up the same ridiculous prices as well. Have Building Insurance costs gone up in line with house prices, or should we expect that as the next surprise?

"Insurance assessors were beginning to view damage that could run into millions of pounds, in an area where houses sell for at least 600,000. One house on the road had caved in completely and houses on at least three other roads were damaged. A council spokesman said that many other houses might have to be demolished because they had suffered severe structural damage."

Posted by shanghaitim @ 03:50 AM (484 views)
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