I am just renewing some buildings insurance.
I was advised to get a new desk based survey done on the building to make sure the level of cover is adequate for the current market as there are inflationary pressures on the building trade and materials.
The estimate I have just received was 94% higher than my current insured amount.
Keep in mind that if you have a significant loss and are found to be under insured not only do you get paid less you also get penalised for under insuring.
Watch out chaps make sure your rebuild costs are correct.
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