Is this too cheap - what am i missing

[NewToAllOfThis]

Just got a quote from Protek, thought it was going to be a lot more, we are in a flood zone. selected £10,000 hire plant for scaffolding and toilet, is this enough and what other hire items would I possibly need.

 

£2 million Public Liability. Property size 120 square metres, over two floors.

 

Reinstatement Cost: £150,000.00
Duration: 12 Months

Premium: £301.33
IPT: £36.16
Total Cost: £337.49

Hired PlantOwn PlantSite Huts & CaravansContents of Site Huts / CaravansPublic Liability

[nod]

Think we paid around a £500

3 years ago 

Basic liability No plant or cabins 

Protek 

 

[epsilonGreedy]

That is a keenly priced quote for Protek. My build is 10% larger with no hired plant cover but a £10k static caravan is included. From memory it was around £400 at first renewal and similar for the first year.

 

Protek told me 6 months ago that one year of cover was their quotation sweet spot at present. Their quotes for 9, 15 and 18 months did not fit any logical curve.

 

Rumours circulating on this forum about outrageous premiums for extending cover over extra years do not apply with Protek at present.

[Russell griffiths]

I think your reinstatement cost is wrong, if it burns down a week from completion you think you can replace it for £150,000

[SuperJohnG]

Seems light to me.

 

I'm £2500 for 24 month policy based on 550k reinstatement, 300sqm. Is that value correct?