A price worth paying
Brokers are vital for ensuring that clients are adequately protected against loss, especially when it comes to property valuations. Susan Davies looks at why valuations are essential, and how a small miscalculation could hurt more than just the insured business
Insurance is only as good as the valuation placed on the assets covered by a policy - but just how accurate are valuations? All too often, an unexpected disaster suddenly brings home to a policyholder deficiencies in the valuation process or results. For example, if a property of a high-net-worth individual catches alight, and the possessions lost in the blaze were grossly underestimated, then the owner would be at a loss at the point of claim, as they would not have been insured for the true
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