LEARNING POINT - INSURANCE

The Importance of having the correct insurance in place for your specific needs:
Delivered by Claire Hoskin of DC Jones Insurance

Buildings Insurance

Have to legally own the property to insure – Insurable interest.
Calculating Buildings Sum Insured – Fixtures and fittings.
Blanket Cover.
Basis Perils and Liability.
Additional Cover - Accidental Damage/ Legal Expenses
Cover Exclusions - Wear and Tear/ Maintenance/ Policy Excess/ War, Terrorism, Sonic Boom. Unoccupied Properties - FLEA

Contents Insurance

Not Legal requirement
Own or Rent
Calculating your sum insured
Basic Perils
High Net worth clients
Additional Cover – Accidental Damage/ All Risks/ Specified Personal Effects/ Legal Expenses
Cover Exclusions – Wear and Tear/ Excess/ Maintenance/ War, Terrorism, Sonic Booms

Advice

Take time out to check your sums insured. You probably have more than you realise.
Avoid Under Insurance – Insurers will only pay average claim costs.
Keep your property well maintained.
Keep secure - Utilise all disclosed security. Lockable windows, security light working, maintain alarm.
Disclose all material facts - Trees in vicinity, stream nearby, mining report, underpinned, shared entrance, criminal convictions.
Keep receipts and valuations - Proof of ownership.
Report claims immediately