A sustained rise in construction costs this year, with some materials up by as much as 100%, is increasing the likelihood of significant underinsurance of buildings in the UK.
RebuildCostASSESSMENT.com director, Will Molland MCIOB AssocRICS, said: “It is unlikely that day one uplift or annual indexation will have allowed for these increases…”
Recent data from RebuildCostASSESSMENT.com has highlighted how on average, buildings are covered for just 68% of the amount they should be in Britain. However, with rebuild costs rising rapidly, the current situation is likely to be even worse.
According to the Builders Merchants Federation . . .
This content is restricted to subscribers
