Case study – Incorrect rebuild sum insured
Case Study
Ascend solve under insurance issue that could have left client £2m short in the event of a claim
Incorrect rebuild sum insured
“Thank you for raising and explaining the underinsurance issue on my insurance & providing a robust solution.”
Sector: VIP Home
Sub Sector: Ascend Executive
The Problem:
70% of property’s insured are for the incorrect rebuild value – especially in the present increasing materials climate
We highlighted the problem and explained to the client what could happen. In the event of a claim they would be £2m short or even worse, insurers could have declined the claim
The Solution:
We explained the impact of having the incorrect rebuild sums insured and provided a RICS surveyor rebuild report that provided the true cost for a total rebuild.
