A tree-hugging approach to valuation.
It’s a tale of trees, insurance companies and subsidence. A new system for valuing trees is being adopted by local authorities in a bid to stop trees being blamed for subsidence in buildings.
This tree-hugging approach is being adopted because insurers have been blamed for being too quick to fell trees because they suspect them of causing damage to neighbouring properties.
In future, higher value trees will require extra engineering work by insurers to prove a link between and tree and subsidence.
And it seems trees are surprisingly expensive. According to The Times the average street tree is worth between £8,000 and £12,000. And Britain’s most expensive tree is a plane in Mayfair which is valued at £750,000.