Is your household buildings insurance on solid foundations?

Date 18th March, 2019

Check that you are properly covered for building insurance – that’s the message from Chartered Building Surveyor James Barron.

He said latest figures suggest that around 80 per cent of properties in the UK are likely to be under insured.

“Ensuring your building is insured for the correct value is very important as if it isn’t, the insurer will not cover the whole cost of the loss in the event of a claim,” said James.

“What you have to remember is that the ‘reinstatement’ value of a house, the cost to replace it, is not the same as open market value. Indeed, in many cases, it will be more.”

Most household insurances are index linked, but to a lower level than the current building cost inflation.

James warned that this means the longer owners leave getting a current up-to-date valuation, the more likely their property will be under insured. 

For this reason, it is vital to stay on top of changing values and James believes it is good practice to get a building insurance valuation prepared every three years.

This should also be backed up an annual desktop review of the insured value to make sure it is correct.

“Remember that a Chartered Building Surveyor can provide you with an accurate building’s insurance reinstatement valuation, which will save a lot of time and money in the event of a claim,” added James.

For more information on James’ services visit