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Most brokers believe buildings are significantly underinsured

Most brokers believe that UK buildings sums insured are inaccurate, with the majority estimating that commercial and high-net-worth household properties are either “severely” or “very” underinsured. Online rebuild cost assessment service Insuranceshortfall.com questioned 100 brokers at this year's 2017 BIBA Conference and Exhibition, which took place in Manchester earlier this month. Almost three quarters of brokers (72%) said they believed that most commercial properties were either “very” or “severely” underinsured, at between 60% to 80% (or less) of their correct value. More than half (55%) estimated that high-net-worth properties were either “very” or “severely” underinsured. Overall, on

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