Towergate also found that 14% of properties were over-insured
UK commercial properties such as shops, factories and warehouses are underinsured by an estimated £325bn, according to research by Towergate.
In its latest risk alert, Towergate highlighted a massive shortfall in insurance.
Towergate estimates that nine out of ten commercial properties in the UK are insured for the incorrect amount, and in 79% of these cases this is due to underinsurance.
Average buildings are only covered for 69% of the amount they should be.
Mark Brannon, Towergate’s commercial director said: “Now is not the time for businesses and individuals to find their property is underinsured and that their insurance policy will not fully cover a loss.”
Meanwhile 14% of properties are over-insured, it found. Those buildings that are over-insured are covered for 121% of the correct amount.
It also estimates that 580,000 high-value homes worth over £1m in the UK are significantly underinsured.