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Home -> News Centre -> Brevent Issues Buildings Insurance Warning

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The Brevent Press Centre provides details of our latest news and views on property insurance matters^.

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1st August 2006

Brevent Insurance issues Buildings Insurance renewal warning

Properties could be under insured as Brevent Insurance sees evidence of renewals invited at 30% lower than the RICS current annual rebuilding inflation index.

 Whilst this results in lower renewal premiums, clients might find themselves out of pocket.

 A Brevent spokesperson said: "Inviting renewals that do not take the current RICS rebuilding inflation index into account, does not seem to be in a client's best interest, as it may well leave them at risk of being under insured."

 In order to ensure that customers have an appropriate level of cover in place, Brevent Insurance recommends that a regular survey is carried out by a suitably experienced Chartered Surveyor to establish the current buildings reinstatement value.

 This should be take place at suitable intervals of between three years to five years to ensure that property remains adequately insured.

 RICS Current Rebuilding Inflation Index 

Notes for Editors:

*RICS Annual Rebuilding Index Inflation June 2005 to June 2006 7.1%.

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Brevent exclusively focuses on the block of flats and mixed use property sector.

We specify and deliver Brevent 'best value' insurance products often with exclusive features as standard.

Our unique Property Owners Block of Flats product has been developed to meet the growing demands of today's mixed used and residential communities. We aim to cover our Residents' Management Company clients requirements with our NIL excess (for communal and subsidence claims) standard product, priced at a rate that is comparable to many basic property owner policies.

Our unique Property Owners Block of Flats product also includes cover for Registered Social Landlords, Section 106 and Commercial use as standard.