Author Archive: Jon Tyler
Posted by Jon Tyler on September 3rd 2018 in Insurance, Thought Leadership
Many property owners still have a widely held belief that the market value of their property is the main driver for the sum insured but only rarely will you find that the actual market value is the same as the rebuild cost.
The rebuild cost has to include many different factors including hard standing areas, underground services and demolition. In some cases you can find the market value is higher than the rebuild cost but in the large majority of cases it will be the opposite, so it is recommended that you seek professional advice and have an independent valuation carried...
Posted by Jon Tyler on July 29th 2018 in Insurance, Thought Leadership
Underinsurance is, simply put, what happens when you have not taken out enough insurance cover to meet your needs. Underinsurance is a common problem, specifically in relation to the contents of a domestic or commercial property or for the property itself.
Recent research by The Building Cost Information Service found that UK commercial property underinsurance on policies is as high as 80%.
With this in mind, we spoke to Jon Tyler, Head of Claims, about the consequences of underinsurance and the steps you can take to mitigate against it.
What does underinsurance mean?
Underinsurance is pretty self-explanatory. It is when the level of...