Is your property insured for the right amount?

Many homeowners are unaware that their property might not be insured for the right amount. This is particularly risky for historic homes, where rebuild costs can be much higher than expected. So, how can you be sure your property is properly covered?

The risk of underinsurance

In an episode of 'Ask Amy', Alan from West Sussex asked, “What are the chances of my 19th-century country home being insured for less than it should be?” The answer is surprising: 79% of UK properties are underinsured, according to our data.

Why you need a rebuild cost assessment

An accurate rebuild cost assessment ensures your property is insured for the correct amount. This isn’t just about historic homes; it’s essential for any property owner. With over 90% of properties insured for the wrong amount—either too much or too little—getting a professional assessment is a smart move.

Get your rebuild cost assessment today

With 79% of UK homes underinsured, don’t leave it to chance. If you’re unsure about your property’s rebuild cost, contact us today.

Watch Amy’s 2-minute Tuesday

Have questions? Send them to askamy@rebuildcostassessment.com. Amy is always ready to help, whether it’s about rebuild costs or a fun, random question.

These statistics were relevant at the time of recording. For the most up-to-date information, please visit RebuildCostASSESSMENT.com.

Transcript from Amy’s 2-minute Tuesday video

Intro

Hi everyone, I’m Amy from RebuildCostASSESSMENT.com and THIS is my 2-Minute Tuesday. OK, so if you’re new to my 2-Minute Tuesday, this is where I answer your questions about anything to do with rebuild costs in no more than 2 minutes! So, let’s get straight to it and start the clock…

Fun Fact

Now I have to confess I love nothing better than a good stat! For example, did you know that if you're standing in a group of 23 people, there's a 50% chance that 2 of them will share the same birthday? And if it’s 70 people, it goes up to more than 99%. How mad is that! And who exactly figures this stuff out?

Question from Alan, West Sussex

Anyway, that’s why I like this question from Alan from West Sussex, who asks: “What are the chances of my 19th-century country home being insured for less than it should be?” Well Alan, with our data from thousands of properties showing that more than 9 out of 10 are insured for the wrong amount, there is a very strong chance your property isn’t covered for what it should be. There’s around a 14% chance your home is insured for too much. But what’s far more likely is it is under-insured, which affects 79% of UK properties. So, based on the overall picture, there’s a 79% chance your property is insured for less than it should be. That’s a lot! Better to be safe than sorry and get a rebuild cost assessment, I’d say.

Random Fun Question

So, there’s your answer Alan. And YES, there’s just enough time for a quick random question too…June from Bishop Stortford wants to know: “Is it a 'scon' or a scone Amy?” It’s a 'scon' June, it’s definitely a 'scon'!

Outro

Please send any questions, including some fun ones, to askamy@rebuildcostassessment.com and I’ll be back soon with another Amy’s 2-Minute Tuesday. Thanks for watching and don’t forget to like and subscribe!