5 Interesting Flat Facts – And What You Need to Know About Insurance

Flats currently make up a significant percentage of all the homes in the UK. In fact, official figures from the government show that at least 12.5% of all homes and residences are flats. This is an interesting piece of information, especially when you consider the fact that predictions have it that in the next 30 years, the world’s population would have exploded by more than 2 billion, and a majority of people would be living in cities. With this, it is fairly easy to assume that there will be a high number of well populated flats to accommodate the population explosion. Today, this has given rise to firms like Deacon, who specialise in blocks of flats insurance amongst other things.

Flats carry a high risk of storm damage, fire, water damage to name just a few. That’s why specialist insurance for landlords isn’t just a good idea – it’s a legal requirement.

It’s also important to ensure your building is valued correctly for insurance purposes.  Correctly assessing what it would cost to rebuild a block of flats is complex and it’s always worth seeking expert advice. If you under-insure the building, the insurer could reduce your claim in proportion to the under-insurance.

Here are 5 amazing things about flats, ranging from history to structure and cost.

 

  • The Romans Started It

 

A surge in the population of Rome, as a result of all their accomplishments and conquests, caused a significant problem with accommodation. This birthed a solution that involved Romans learning how to properly erect not just sturdier buildings but also much higher ones to accommodate more people. They learnt to do this using concrete, lime, and volcanic sand, giving them more opportunities for structure and design.

 

  • Shapeshifting Buildings

 

Buildings have evolved so much that a static one is not a fun anymore. In the next few years, the first ever rotating and shapeshifting building will be officially launched in Dubai. This is the culmination of many years of work and will probably spark more innovative ideas.

 

  • Weird History

 

The way these places are handled is totally different from how they used to be. Sometime in 1934, one of France’s most popular actresses abandoned her flat in Paris and moved to the South of France. This went unnoticed by the owner until 2010 when he died and professionals were asked to assess his estate for its proper value. Today, with specialists like deacon.co.uk, an occurrence like that is almost impossible.

 

  • Can We Build Down?

 

As unlikely as this might seem to the average person, many building engineers and architects are constantly working on the possibility of making buildings go down into the ground as opposed to up into the air. Even though these experts are still pondering over this and there aren’t any real executable plans yet, it’s a possibility. There also is the idea of Aequorea, a proposed underwater city.

 

  • Pricing

 

Even though housing is a very important and basic necessity for people, many places all over the world have luxury apartments that cost a lot more than a penny. However, in some countries, the cost of living in a city can be as expensive as luxury areas in other relatively expensive places. London, for example, is the second most expensive place in the world to find a flat in the middle of the city. Other parts of the UK that come very high include Oxford, Edinburgh, and Brighton. Also, an apartment in London’s Hyde Park is the most expensive flat in all of the UK with a 2018 value of £160 million.

www.deacon.co.uk has a lot more current information about buildings, insurance, related legal practices, and requirements you might need.

 

 

 

Disclaimer: This content does not necessarily represent the views of IWB.

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