Remove Building Remove Commercial Property Remove Policyholder
article thumbnail

The Importance of Accurate Valuation in Commercial Property Insurance

Bankers Insurance

THE IMPORTANCE OF ACCURATE VALUATION IN COMMERCIAL PROPERTY INSURANCE When purchasing or renewing commercial property insurance , it’s important for businesses to ensure their coverage includes correct property valuations. Replacement value — This is an estimate of the current cost to replace or rebuild a property.

article thumbnail

What Agents Should Know About Tariffs and Insurance Costs

American Agents Alliance

While the relationship between tariffs and insurance costs can seem unrelated, tariffs can increase costs for insurers and policyholders. Read more to understand this relationship and how agents can help policyholders manage this uncertainty. This could cause higher rates in commercial property and homeowners lines.

Agents 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Top Building Insurance Pitfalls To Trigger F.O.M.O.

Property Insurance Centre

Top Building Insurance Pitfalls Here are some common pitfalls to avoid when getting building insurance in the UK: – Underinsuring. Insure your building at the amount that it will cost to rebuild it and not at the current market value when securing block of flats insurance. – Not considering inflation.

article thumbnail

Emerging Property Insurance Trends 2024

Property Insurance Centre

The property insurance sector is no exception, as inflation directly impacts key cost drivers such as property valuations , construction costs , and labour. The rising costs of building or repairing properties have a direct effect on insurance premiums.

article thumbnail

Understanding Consumer Education and Property Insurance

Property Insurance Centre

By understanding key terms, policy details, and the rights and responsibilities of policyholders, consumers can engage with insurers more effectively, ensuring better communication and ultimately achieving their desired outcomes. By exploring these guides, individuals can gain a comprehensive understanding of why insurance is essential.

article thumbnail

Our Claims Partner, Aspray, Wins Loss Assessor of the Year 2024

Property Insurance Centre

Aspray’s repeat win is a reflection of their unwavering commitment to delivering top-notch service to their clients, ensuring that they receive the best possible outcome in times of property damage. Key Factors Behind Aspray’s Success 1.

Claim 52
article thumbnail

Why can’t I get insurance?

Property Insurance Centre

Let’s have a look at them… Don’t claim for everything – One thing insurers do not like, is a policyholder that claims over multiple times a year & for the smallest thing. For example, many commercial buildings and retail business will often have large theft excesses applied, as a result of theft & malicious damage claims.