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Too many underinsurance disasters waiting to happen

Businesses already struggling in the wake of Covid-19 face another invisible threat in the form of underinsurance. The latest data from RebuildCostASSESSMENT.com reveals a massive shortfall in cover among UK commercial properties. The insurance valuation providers estimate that buildings occupied by businesses in Britain are underinsured by a whopping £325 billion. “What this means is hotels, shops, factories, warehouses and many other types of commercial buildings across the country are woefully under-protected in the event of any kind of damage,” said James Scott-Brown, director at Rebuild Cost Assessment Ltd. “With businesses already struggling financially, many simply would not currently

UK rented homes underinsured by £315 billion

Property owners struggling in the wake of Covid-19 face another invisible threat in the form of underinsurance. The latest data from RebuildCostASSESSMENT.com reveals a massive shortfall in cover among rented homes and business properties. The insurance valuation providers estimate that privately rented homes in Britain could be underinsured by a whopping £315 billion, while for UK commercial property, the underinsurance total is around £325 billion. “What this means is buildings across the country are woefully under-protected in the event of any kind of damage,” said James Scott-Brown, director at Rebuild Cost Assessment Ltd. “I fear that in the current financial climate many property owne

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