NU warns of property underinsurance

A sample of 128 valuations carried out by the insurer revealed that 86% of those properties surveyed were significantly underinsured, with the difference totalling £314m.

Mike Colmans, property owners underwriting manager for NU, said: "Having accurate sums insured on a property is vital to guarantee receiving the full amount in the event of a claim. As many as 50% of claims for damage to buildings are being settled below the cost of reinstatement, which could have a significant impact on propert