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Almost three quarters of commercial buildings with sums insured of £500,000 or less are underinsured, according to new data from Insuranceshortfall.com. Analysis of the findings of almost 4,000 rebuild cost assessments carried out by Insurtech start up Insuranceshortfall.com also revealed that while underinsurance becomes less likely as sums insured increase, the overall picture is one of widespread inadequacy of cover. “Our data provides a useful heads up to insurers and brokers in terms of where they are likely to find a greater risk of underinsurance within their portfolios,” said Trevor Smith, Director of Rebuild Cost Assessment Ltd, the ‘Regulated by RICS’ organisation behind Insurances
