Top Building Insurance Pitfalls To Trigger F.O.M.O.
Top Building Insurance Pitfalls Here are some common pitfalls to avoid when getting building insurance in the UK: - Underinsuring. Insure your building at the amount that it will cost to rebuild it and not at the current market value when securing block of flats insurance. This will afford you adequate insurance cover to meet all the costs of rebuilding in case of total destruction. - Not considering inflation. For your rebuild costs, you have to consider several years of inflation to ensure that you receive a sufficient amount to rebuild if the costs have gone up. Make routine changes on your cover and ensure you analyse them for maximum effectiveness. - Ignoring exclusions. See what is not covered in terms of events/damage for your policy and think about getting flood insurance or accidental damage insurance if desired. Look for terms like “acts of war” because they are typical [...]
