Underinsurance can lead to reduced claims settlements and can make it significantly harder for you to recover following a loss.
Despite the gravity of its consequences, underinsurance remains a major problem for the insurance industry across many different market sectors and varying lines of business, and when a claim arises the impact can be disastrous.
Valuations and risk assessments have become less of a priority to property owners in the face of an ever shifting economy. As owners attempt to cut costs, the market has seen an increase in the number of underinsured properties, not just in the UK, but around the world.
Emerging global risks, such as extreme weather events causing increased flooding and property damage, highlight the need for stronger coverage.
Click here for a guide which contains a series of simple, practical tips, that can help you in eliminating underinsurance.