What happens if I insure my property for a lower sum insured than it would cost to rebuild?

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If you are under insured then your insurers are only liable to pay a proportion of your claim. For example if your sum insured only covers 50% of your rebuilding cost, then your insurers are only liable for paying 50% of the amount that you claim. This applies to your Contents and Loss of Rent as well as your Buildings cover.

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TLAChairman
Author: TLAChairman