Have you renovated, extended or altered your home?
Underinsured after renovation? Visit us at the Homebuilding and Renovating Show
76% of UK properties are underinsured, according to RICS-approved, Rebuild Cost Assessment, in their latest annual update, carried out in October 2024. On average, those properties are covered for only 63% of the amount they should be, with the amount between insurance levels and true rebuild costs continuing to widen due to construction inflation.
All of which begs the question, if you’ve been renovating, extending or altering your home, potentially increasing its value, have you reviewed your insurance requirements? If you haven’t, the chances are you could be underinsured - and, in the event you need to make a claim, you could find yourself seriously out of pocket, if your insurance doesn’t cover the cost of rebuild or repair.
With recent record levels of inflation leading to increases in values and costs, it’s important that your sums insured remain accurate to avoid underinsurance in the event of a loss.
Talk to PIB Private Clients team at the Homebuilding & Renovating Show 2025
To find out more and have a chat about your specific circumstances, visit our stand at the forthcoming ‘Homebuilding & Renovating Show’ at the NEC in Birmingham, 20th to 23rd March 2025. Brought to you by leading homebuilding and renovation experts, the event is for anyone who has a home project, big or small, offering free expert advice, inspiring sessions and access to 100’s of brands all under one roof.
Visit PIB’s stand
You’ll find PIB at Stand G183, so why not pop in and say hello to PIB’s representative, Sonia Hazelwood, who will be happy to listen to your circumstances and advise on the best way forward. To book tickets for the show, visit the website.
PIB - expertise you can depend on
PIB has been meeting the needs of discerning, high net worth clients for many years, advising on their property portfolios, and our team prides itself on providing the highest levels of personal service, attention to detail and discretion.
If you’ve recently made enhancements to your property, such as renovation, restoration or alteration, or added to your contents, a review of your insurance requirements could well be overdue. As a homeowner, it’s important to assess the value of your building and its contents every year. Also, if you’re in the process of carrying out renovation or enhancements to your home, it’s essential you’re covered by appropriate insurance, in case of mishap, accident or theft - you may find your existing cover isn’t enough.
Whatever your circumstances, we’ll be happy to advise, give us a call on 0330 058 9863 or email using the button below.
To book FREE tickets for the show, please visit: https://www.homebuildingshow.co.uk/
Source
https://www.rebuildcostassessment.com/post/annual-infographic-2024