Protecting Your Buildings And Contents
What does Property Insurance cover?
With Property Insurance you will be covered for your Buildings, Contents, Fixtures & Fittings, Stock, Materials, Computers, Frozen Foods, Glass & Money.
What's the widest type of cover?
The widest available is Material Damage All Risks & includes loss as a result of Fire, Lighting, Explosion, Aircraft, Earthquake, Storm, Flood, Burst Pipes, Import, Riot, Civil Commotion, Strike, Malicious Damage, Theft, Attempted Theft and Accidental Damage. Cover can also be extended to include Subsidence, Ground Heave or Landslip.
What sum should I insure the property for?
The Sum Insured should be the replacement/rebuilding cost and in respect of buildings the sum insured should include the cost of Debris Removal & Architect/Surveyors Fees, Insurers normally recommend that this is approximately 15% of the rebuilding cost, but we strongly advise you get your own professional valuation. Check out the Society of Chartered Surveyors Ireland site for registered list of Building Surveyors.
It is important that all sums insured should be reviewed regularly and kept up to date and also allow for inflation to avoid under insurance. Many policies do have an average clause, which would apply if the sum insured declared is lower than the actual value at the time of a loss, the amount paid by an insurer for the loss would then be proportionately reduced.