Is my Sum Insured adequate to cover my individual property and my proportion of the common areas?

Unless the Title Deeds stipulate differently, it is your responsibility, as the owner of the property, to ensure your sum insured is adequate at all times. Failure to do so may result in a valid claim not being paid in full. It is therefore recommended that periodic reassessments of the sum insured are carried out, to ensure that the building sum insured remains adequate.

Note that Ross + Liddell regularly obtain a Reinstatement Cost Assessment (RCA) prepared by an independent Chartered Building Surveyor. Our Insurer requires that we review the Building Sum Insured (BSI), through an updated RCA, every 3-5 years with Building Cost Indexation,
set by the Insurer, being applied to the BSI on an annual basis, where an RCA is not undertaken.