Underinsurance – it’s more common than you think
A recent survey has found that 83% of all properties in the UK are underinsured, and of those properties, on average they are only insured for 66% of the true rebuilding value.
Most buildings insurance policies have an indexation provision within them which will help mitigate any shortfalls, but in a high building inflation environment such as the one we are currently in, it won’t take too long for these figures to get slightly out of kilter.
The solution is a structured Reinstatement Cost Assessment programme, and at Albanwise Insurance Services we are well versed in putting these together for our clients, large or small. Because of our bulk buying power, we are able to secure preferential rates for our clients, so do get in touch with your usual AIS contact to make sure that your property asset is fully protected.
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