Specialist Licensed Property Insurance

By | October 10, 2009

Submitted by Terry Osborne of Osborne Insurance Services Ltd

Insurance is one thing that most people forget, but it can be the one
thing that keeps you in business following a claim

* No one loves insurance until a claim arises

* Sums Insured – These should represent the full replacement costs –
Buildings Insurance should include a sum for demolition, architects fees and
full re-build costs, under insurance will cause
concern as policies are subject to the “Average Clause”, ie if you insure
for £250,000 and in fact you should have insured for £500,000 and you have a
small or large claim, only 50% of the
total amount of the claim will be paid as you were only insuring 50% of the
sum insured

* Ensure that you read your documents, including any clauses, exclusions and
warranties, as if some are not adhered to your policy could be invalid

* Package Policies are the best way to ensure that you have all the cover
your require, however a Taylor Made package is always best and ensures that
you are not over or under insuring as the
policy is made for you.
* Ensure that all facts are disclosed, ie previous claims, financial
problems, ie CCJ’s or bankruptcy. Quotations can still be given, however
non-disclosure could invalidate the policy

* Picking your insurer can be a tough decision, do you pick the cheapest or
go in the middle? Provided you have checked the sums insured, cover
provided, warranties, endorsements and
exclusions the price should not have a bearing on the cover

* Picking a Broker rather than a Direct Insurer should give you added piece
of mind as the Offices are generally smaller, ensuring that you are dealt
with as an individual rather than just a number

* Your Employers Liability Insurance Certificate should be displayed at all
times is a prominent position

Just a few key points for consideration. Should you require anything further
from us or wish to discuss any points please do not hesitate to contact us.


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