Excess – An excess is the first part of every claim that
you have to pay. Usually you can reduce the cost of your insurance
by increasing the level of excess.
Sum insured – It is your responsibility,
and vitally important, to provide us with accurate information about
the value of your assets. In some circumstances, incorrectly valuing
the assets to be insured could affect your claim. If you cover your assets
for less then they are worth (underinsure), you will not receive enough
compensation to cover your losses. We are happy to discuss this with
you and help you calculate your sum insured. In some cases an insurer
may want to survey your premises before agreeing to provide cover.
Policy conditions, exclusions & warranties – Understanding how you
are covered is as important as understanding how much you are covered
for. You should be aware of any conditions, exclusions or warranties that
may exist with your cover. For example, some cover is dependent on you having an
alarm fitted or securing your equipment in a particular way. Full details can
be found in your policy and in your schedule
of cover.
Know your insurance company – As part of the decision-making process you should look beyond the cost of the cover and examine the potential insurance provider. It is always better to pay a higher premium and deal with an established and financially secure insurer.
