If the home or building you own in the UK is valued at £500,000 or more, then it’s certainly a high value edifice. Other than its market value, an edifice is also deemed of high value if it has architectural significance or is a recognised historic structure. Such prestigious property must be preseverd and protected, and hence its owners must have high value buildings insurance. It’s vital that the coverage be offered on a “value for” basis. The rebuild costs of these prestigious buildings - which may have high value features like carved wood and period staircases – far exceeds their market value. This means that high value building insurance must be tailored to showcase the unique value of the property.