Where BCH haven’t assessed properties before, underinsurance still remains a problem.
£2,078,000,000 worth of property was assessed during 2018 — with an additional £588,000,000 added to sums insured.
An increase in the property’s value was recommended in 81% of insurance valuation appraisals.
The average increase in the property’s value was £1,182,000 or 61%.
An average increase of £1,900,000 or 70% was recommended in the valuation of Commercial Property.
An average increase of £690,000 or 54% was recommended in the valuation of Residential Property.
If you would like to discuss any specific block of flats or reinstatement costs in general, please contact Lorna Harrington on 01455 293510 or send an email via the contact page.