Underinsurance occurs when you have not taken out the right amount of insurance cover for your needs. There will be a variety of factors to take into account when you assess how much insurance you need and if you are not sure you should get advice from a broker or valuation expert because if that amount is wrong it is likely to impact the amount you are paid for any claim you need to make.
The guide from Aviva is a useful document to help explain what ‘Underinsurance’ is; it also provides some example case studies which bring to life the impact that underinsurance can have on your business.
Click here to download the Underinsurance guide
