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Claim Tips

All accidents or losses should be reported to your insurance broker or carrier immediately.

Your insurance premiums are based upon the assumption that the building is being insured for the full value. If the sum insured is less than it should be to fully rebuild your home, you are considered to be under-insured. In the event of a loss, your claim will not be paid in full.

All property insurance policies include an “Average Clause” which is industry standard. The average clause determines the rate that your claim may be settled. To avoid a reduction in the payment of a claim, we recommend that an appraisal be done every other year. If the building was renovated, an appraisal is always recommended to ensure that the building is being insured for the correct value.

We can assist you by recommending a professional appraiser.