Latest building sums insured data released
RebuildCostASSESSMENT.com has released up-to-date high-level data around inaccurate building sums insured in the UK.
The figures, which come from an overall sample of 8,863 domestic and commercial properties over the past 12 months, have been summarised in an infographic below, which you can also download here.
Director Will Molland BSc MCIOB AssocRICS, who is also one of RebuildCostASSESSMENT.com’s Quality Control Assessors commented: “There’s not a great deal of change in the high-level data we’re seeing. The vast majority of properties in Britain remain underinsured and we believe it’s important we all raise awareness around this.
“On average, buildings in the UK are only covered for two-thirds of what they should be, putting property owners at significant financial risk in the event of a claim. We’d encourage insurance brokers in particular to share our infographic among their clients to highlight just how likely it is that their current buildings sum insured are not what they should be.”
RebuildCostASSESSMENT.com is ‘Regulated by RICS’ and provides affordable, professional valuations of building sums insured that are incredibly easy to arrange.