How to Avoid Property Underinsurance

How to Avoid Property Underinsurance

The risk of underinsurance for many property owners is growing. If you are the owner of a property or a landlord and haven’t reviewed your building sum insured for some time, you might discover that your property may be underinsured. This could leave you in a precarious situation if disaster strikes and is the reason why we’re encouraging all property owners to review their reinstatement cost assessment.

In the following video, our Head of Insurance, Nick Long, explains how you can avoid property underinsurance.

You can also find out more from our blog.

There is no time like the present to review your current insurance cover levels. With so much economic uncertainty, we would advise making sure your risk management plans are firmly in place, which includes adequate insurance.

Our experienced advisers can help you take a look at the bigger picture and ensure that you have the right insurance in place for your specific needs. As an independent commercial broker, with access to a wide panel of A rated insurers, we can advise on what’s right for you, bringing you peace of mind. We’re here to help you protect your investment from risk. We work with businesses that own commercial property and landlords.

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The Association of British Insurers (ABI) in association with the Building Cost Information Service (BCIS) have created a simple and free to use rebuilding cost calculator.

Registration is simple; visit calculator.bcis.co.uk and follow the registration instructions. Once registered you will be asked for details about the property type, style, postcode, year of construction etc. and a calculation of the potential cost of rebuilding your property is provided immediately.

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