The percentage of UK buildings underinsured has dropped to 76%, which while a six-year low is still “unacceptably high”, according to specialists.
Calculations from insurance valuations provider rebuildcostassessment.com showed the decline from 81% last year and from an all-time-high of 83% recorded in 2022.
However, despite the drop, underinsured properties are on average only covered for 63% of the amount they should be, the experts suggested, in line with last year’s findings which were the worst on record.
The breakdown revealed that across the UK (see map below) 79% of commercial properties were underinsured.
Gap
Johnny Thomson
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