The Real Guide to VAT and Sums Insured: What you need to know
Many businesses are not prioritising the valuation and risk assessment aspect of their insurance, fearful that it may lead to higher premiums. Underinsurance occurs when you have not taken out the right amount of insurance cover for your needs.
The problem for many businesses is that getting the right sums insured is often complex and the values in question can change quickly.
Calculation of VAT on Sums Insured
One of the things people seem to get most confused about when it comes to setting building sums insured is whether or not to include VAT. To help understand this complex subject, please view our new 3 minute explainer video, which should help clear up some of the key questions.
If you have any questions and peace of mind regarding your property sums insured limits please contact Real Insurance on 0330 058 0260