Underinsurance disasters waiting to happen

Businesses across the UK that are already struggling thanks to surging inflation and its knock-on effect on the cost of living, may not be able to survive the consequences of being underinsured.

Many shops, factories, warehouses and many other commercial buildings across the country are likely to be woefully underprotected in the event of a claim for damage. Never has this been more of a concern than it is today, where many businesses are already feeling possibly the biggest squeeze on finances in their history.

It is estimated that 84% of commercial properties in the UK are insured for the wrong amount*. In the vast majority of these cases, this is due to underinsurance which means that when a claim is made, the pay-out for the damage can be severely reduced.

UK homes under underinsurance threat

The concern of underinsurance isn’t exclusive to commercial properties. In fact, it is estimated that more than 90%^ of homes of significant value are also at significant risk of not being adequately protected – with the implications being seriously costly, perhaps even so costly homeowners could lose their home.

Calculating the true cost of your property

We work with RebuildCostAssessment.com to offer our clients a discounted review to determine the true rebuild cost of their property. At a time when every penny counts, it is our duty as insurance advisors to ensure the protection you have in place is adequate and will respond as you would expect it to in the event of a claim needing to be made.

To find out more just get in touch.

*www.rebuildcostassessment.com – based on valuations conducted on more than 2,000 commercial properties every year

^www.rebuildcostassessment.com – based on valuations conducted on more than 3,000 homes of significant value per year