Have you got proof your assets are insured correctly?

We have uncovered up to 570% of underinsurance and have saved many clients from potential financial disasters.

Underinsurance is risky business and is caused by people:

  • not wanting to pay for an independent valuation

  • are over confident nothing bad will happen to them

  • relying on last year's figure

  • not taking in to account recent renovations or extensive refurbishments

  • forgetting costs such as installation, labour, demolition, legal fees and GST 

  • using their market value for their insurance

  • relying on bank valuations

  • relying on unqualified opinions such as builders and accountants or

  • thinking they know the true value of their assets.

If you can or your client relate to any of these, it is very likely your assets are not insured correctly. Simply having insurance cover doesn't mean you're covered correctly - partially right, partially covered. 

What is the point of paying an insurance premium if it won't compensate you the way you would expect it too? 

Use our LMI Group building cost calculator to give you a better indication of your own potential underinsurance.