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Imagine you've insured your property for an amount significantly lower than the rebuild cost. A disaster strikes, and the damages are extensive. Suddenly, you're faced with the reality that your insurance payout won't cover the full cost of rebuilding. This scenario, which could have devastating financial consequences, highlights the critical importance of a reinstatement cost assessment (RCA). What is a reinstatement cost assessment? A reinstatement cost assessment (RCA) es

Insurance can often feel like a bit of a puzzle. All the legal jargon and complicated rules can make it seem like you need a law degree just to understand it. Getting to grips with the difference between rebuild cost vs market value can also be tricky. But we're here to help. In this blog post, we'll unravel these important concepts and show you why they matter when it comes to your insurance. Rebuild cost vs market value The difference between market value and reinstatement

Today, we're shedding light on an essential aspect of property ownership: The validity period of your rebuild cost assessment (RCA). Whether you're a commercial property owner or a homeowner, understanding this crucial timeframe can have a significant impact on your financial security and peace of mind. What is a rebuild cost assessment? Before we dive into the validity period of your RCA, let's briefly recap what a rebuild cost assessment is and why it's indispensable for in

A greater proportion of properties are now underinsured and the gap between property rebuild costs and the amount buildings are currently...

Businesses already struggling in the wake of Covid-19 face another invisible threat in the form of underinsurance. The latest data from...

A broker is facing a legal claim for damages of “at least £3.5 million” after a fire revealed one of its clients was severely underinsured.

One of the things people seem to get most confused about when it comes to setting building sums insured is whether or not to include VAT.

Investors in pension schemes are being warned of the knock-on effect of inadequate sums insured on commercial properties in their portfolios

Almost three quarters of commercial buildings with sums insured of £500,000 or less are underinsured.

It’s an important question. After all, the consequences of inaccurate sums insured can be significant.