My partner has been paying insurance for her buildings structure based on a sum insured of £500,000 for 15 years. Value of the property (and also “rebuild costs”) are both around £130,000. Meaning the sum insured is Clearly ludicrous. 15 years ago it would have been eyewateringly obvious to any “insurer” that this was wrong.
Can we get some redress for this abuse ?
Can we reclaim the overpaid premiums ?