FREE  - VALUATIONS and ASSESSMENTS

We have a very experienced team available to assess / value your property, whether it’s vehicles or other commercial, industrial or domestic property, and we recommend that you take advantage of this excellent service, so that you don’t become a victim of the dreaded “Average” Condition that appears on all insurance policies these days.

According to the “Average” Condition, if the value you choose to insure is found to be less than the actual value when a claim takes place, you are considered to be self-insured for that portion of the risk that represents under-insurance.

In practice, this is how it works: -

If you insure your Household contents for US$20,000, but when there is a break-in, the Assessor finds that the actual value of your property is, in fact, US$30,000, insurers will advise you that you are under-insured, and if the amount you are claiming is US$6,000, then this is how the claim will be calculated: -

       Sum Insured                    x    Loss
Actual value at time of loss

20,000        x    6,000        
30,000

=    US$4,000