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Brokers want underinsurance tackled before a claim, not after

PRESS RELEASE - Insurance, United Kingdom: Brokers want a shift in focus from buildings sums insured being examined following a loss, to being independently assessed before a claim takes place. Research carried out earlier this year at BIBA 2016 by new online rebuild costs assessment service Insuranceshortfall.com also found that brokers want insurers to provide some kind of claims guarantee in the form of replacement cost cover or removal of the average clause, whenever a reliable independent rebuild cost assessment is carried out. Trevor Smith of Insuranceshortfall.com said: “We’ve been talking to brokers about buildings underinsurance throughout 2016. It’s become a hot topic because of t

Unique online service to help prevent business ‘underinsurance’

PRESS RELEASE - Business, United Kingdom: A unique new online service to help businesses avoid the potentially devastating consequences of ‘underinsurance’ has been launched today. Insuranceshortfall.com offers a low-cost way of calculating how much a commercial property would cost to rebuild from scratch if it was damaged by fire or some other disaster. Underinsurance happens when a property is not insured for the right amount. In the event of a claim, insurance companies can quite legitimately reduce their payout if a property is not fully covered. In some cases this can lead to less than half the amount needed to repair or reinstate a building being paid to the business. Underinsurance h

Unique online service to help prevent homes being ‘underinsured’

PRESS RELEASE - Property/Lifestyle, United Kingdom: A new unique new online service to help homeowners avoid ‘underinsurance’ has been launched today. Insuranceshortfall.com offers a low-cost way of calculating how much your home would cost to rebuild from scratch if it was damaged by fire or some other disaster. Underinsurance happens when a property is not insured for the right amount. In the event of a claim, insurance companies can quite legitimately reduce their payout if a property is not fully covered. In some cases this can lead to less than half the amount needed to repair or reinstate a building being paid. Underinsurance has led to some homeowners having to move to a significantly

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