Local broker launches new valuation service to combat the
dangers of underinsurance
Towergate Risk Solutions today
announces the launch of a new valuation service to help combat the
dangers of underinsurance for commercial and high net worth owners
of property.
Towergate Risk Solutions has teamed up
with leading valuation surveyors Gleeds Durden who will provide a
professional valuation service at a discounted rate to commercial
and high net worth clients. The service also provides for a
range of enhancements to policy conditions designed to reduce
the impact of underinsurance to property owners.
The new service comes at a time when
insurance company AVIVA has revealed that underinsurance is a real
risk for property owners. The findings of the research
indicates that 77% of professionally valued buildings are actually
underinsured, putting commercial property owners' investment at
risk.
Typical oversights in completing
insurance valuations include the costs of removing debris,
architects’ and surveyors’ fees, walls, gates, fences, garages and
other outbuildings. The recession has also brought its
own problems because while property values might have plummeted,
rebuilding costs have not fallen to the same extent, and some
business owners may be tempted to cut the cost of their insurance
by basing cover on the lower market value of their property.
Jonathan Walker Managing Director
of Towergate Risk Solutions said, "Underinsurance is a real
problem for property owners and cutting the cost of their insurance
can be a false economy. So we have launched this new
valuation service to help property owners achieve peace of mind and
avoid nasty surprises when making a claim"
Media Contacts
Russell O'Connor
Group Communications Manager
Towergate
Mobile: 07760 282586
Email: Russell.o'connor@towergate.co.uk