Gallagher calculates 40% of commercial properties underinsured

A pile of coins with two magnifying glasses

Gallagher has assessed that two in five commercial properties in the UK are currently underinsured with the problem hitting a record high.

The broker’s research amongst business owners and commercial property claims managers found that the shortfall of underinsured properties was an average of 43% against the rebuild value covered by their insurance.

The firm highlighted that where there is a gap, businesses are likely to be liable to pay the difference.

Almost all – 96% – of the claims managers involved in the research said there had been a rise in the number of properties that are underinsured in the past 12 months.

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