Block of Flats Insurance Glossary of Terms
Property Insurance Centre
MAY 20, 2024
Consequences of Underinsurance In the event of a claim on the block insurance policy , the insurer or its appointed loss adjuster may check to see that the Declared Value is adequate. This could mean that if the property is insured for 50% of its correct rebuilding cost, the insurer only pays 50% of the claimed amount.
Let's personalize your content