johnlilley
Active member
Surveyor\'s fees.
As most now know the cost of many types of insurances has increased as partly a result of September 11 and partly, I am told, as a rationailastion of the profitable aspects of the underwiting companies. In short the premium for Professional Indemnity insurance cover which I carry as do many (although not all) surveyors has increased by up to 1000% yes one thousand percent for renewals. If you consider that some can easily pay £2000 and more per annum this could increase to £20,000. That I am told is for "clean" renewals. Any claim history and the renewal is practically impossible at any cost. The result of this will be an obvious fall in the number of surveyors and a dangerous increase in the numbers of uninsured surveyors along with, unfortunately a steep increase in fees. As much as I among others resent this increase, with a rise of this proportion there appears to be no choice. My advice is to ensure your surveyor has PI insurance and understand the reason for extra cost. John Lilley
John Lilley, John Lilley & Associates, Web site www.seasurveys.co.uk for osmosis /timber problems
As most now know the cost of many types of insurances has increased as partly a result of September 11 and partly, I am told, as a rationailastion of the profitable aspects of the underwiting companies. In short the premium for Professional Indemnity insurance cover which I carry as do many (although not all) surveyors has increased by up to 1000% yes one thousand percent for renewals. If you consider that some can easily pay £2000 and more per annum this could increase to £20,000. That I am told is for "clean" renewals. Any claim history and the renewal is practically impossible at any cost. The result of this will be an obvious fall in the number of surveyors and a dangerous increase in the numbers of uninsured surveyors along with, unfortunately a steep increase in fees. As much as I among others resent this increase, with a rise of this proportion there appears to be no choice. My advice is to ensure your surveyor has PI insurance and understand the reason for extra cost. John Lilley
John Lilley, John Lilley & Associates, Web site www.seasurveys.co.uk for osmosis /timber problems
