Hi all,
I'm looking at a strata report which states: "We note the building is under insured according to the above valuation."
However, the building is insured for the exact amount listed in the building valuation (building replacement cost).
Why would this be considered under-insured? Should the building be insured for more than the replacement cost?
Cheers,
Jaz
I'm looking at a strata report which states: "We note the building is under insured according to the above valuation."
However, the building is insured for the exact amount listed in the building valuation (building replacement cost).
Why would this be considered under-insured? Should the building be insured for more than the replacement cost?
Cheers,
Jaz