What is underinsurance?
Your insurance premium is calculated based on your individual circumstances and the amount of cover you choose to take out to protect your business. Underinsurance occurs when you’ve not taken out the right amount of insurance cover for your needs and there will be a variety of factors to take into account when you assess how much insurance you require.
Underinsurance has a significant impact on businesses, often causing business closure.
But why wouldn’t an insurer cover your full loss? What should you do and what should you take into consideration when arranging your business insurance?
To find out more about underinsurance and how to make sure your business has the correct cover, read our Underinsurance Explained Guide.