Ensure your properties are insured for the right amount

The easy, affordable and professional way to make sure your property is insured for the right amount.

Insuring your property can be puzzling, thanks to something called the “Average Clause.” But don’t worry! We’re here to simplify the issue and set things straight. It’s simple, professional, and at only £185, budget friendly.
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83% of UK properties are underinsured. This can severely reduce the amount paid out following a property damage claim.
13% of UK properties are overinsured. If this is you, you’re paying more than you need to for your insurance.

Is my property fully covered?

Insurers call it the Average Clause and it’s their way of making sure you only get what you pay for. If the amount you insure your building for is too low, then the Average Clause can significantly reduce how much you can claim. If you insure too high, you end up paying your insurer too much. Find out more about the Average Clause and why a buildings insurance valuation is essential…

Why do I need a rebuild cost assessment?

As a property owner, it’s your responsibility to tell your insurer how much your building should be insured for. However property owners aren’t property reinstatement experts, but Rebuild Cost Assessments are. RCA is regulated by RICS and they use their knowledge and experience to give you a reliable rebuild cost, which is the amount you should always insure your building for.

RCA tackle underinsurance…

We believe in thorough professional assessments of buildings, that are affordable and easy to arrange. Most of RCA assessments are completed remotely and when they do surveys on site they always complete the homework before arriving. So, by combining clever information technology with their in-house expertise, they make building insurance valuations work for you.
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How does this effect my property insurance?

If the reinstatement value of your property is £1,000,000 but you only take out insurance for £500,000 you are underinsuring your property by 50%. Most property insurance policies have a condition called the ‘Average Clause’, allowing the insurer to reduce settlement payments in the event of under insurance.

In this example, if you suffered a fire which caused £100,000 worth of damage, the insurer would only pay for half of the damage = £50,000

Contact your account manager to discuss your sums insured and ensure they’re adequate, and ask about our online reinstatement survey for £175. Mrs Loyd did just that and found she was one of the lucky ones in the 13% overinsured.

I am grateful to Brownhill’s for highlighting the benefit of having an RCA survey carried out online. The cost of the survey (£175.00) has saved me £182.18 on my premium. Thank you!

Mrs R.A. Loyd
Every year Rebuild Cost Assessment share data with the insurance industry around the accuracy of building sums insured in the UK. These are their latest findings covering both residential and commercial properties.

Data derived from 26,861 Rebuild Cost Assessments completed between Sep ‘21 and Aug ‘22. *Estimate based on Zoopla data on UK homes with a market value exceeding £1m **Estimate based on British Property Federation (BPF) data on UK commercial real estate

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