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Follow on Google News | Rising house prices is great news, but beware of under insurance“We are seeing more claims being reduced due to properties being under insured” Richard Burgess, Director at Cover4LetProperty
By: Cover4letProperty So says Richard Burgess, Director at Cover4LetProperty (http://www.cover4letproperty.co.uk) “Interestingly, we are seeing more claims being reduced due to properties being under insured. This could be for a number of reasons, from a landlord not realising that a sum insured needs to include a full rebuild value as well costs associated with clearing the site of debris and damage; to investors trying to save money on their cover and therefore not insuring their property for the full value. “Investors should check that they have the correct insurance levels for their portfolio, as doing so now could save them money and stress in the future event of a claim” The Association of British Insurers has a useful tool on their website that allows the public to calculate the sum insured value of their property. It can be viewed here: http://abi.bcis.co.uk/ Ends *BBC News (http://www.bbc.co.uk/ **Landlord Today (http://www.landlordtoday.co.uk/ End
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