RISK

Value at Risk is the most important factor when determining your level of insurance. If you have not properly assessed the value at risk then you will be either under or over insured. The consequences of being overinsured are that you are simply wasting money by paying for a higher premium than is necessary. The consequences of being underinsured are that in the event of a claim your settlement will be reduced pro rata with the level of underinsurance so you will only get a percentage of the money you will need to make the necessary repairs. Essentially being underinsured is a false sense of security because you are paying a premium for cover in the event of a loss but in reality your Insurer will not be able to cover that loss because you are not adequately covered.

Residential

Value at Risk survey for the homeowner involves a survey of approximately 1 hour to assess the property, special finishes if any, outbuildings etc and calculate the level of cover required. We will then examine your current policy to advise if you have adequate cover and equip you with the necessary information to amend this if needs be. We will also assess your contents cover and advise on specified items for expensive jewellry, bespoke items or specific cover on specialist items. The advantage of having this done is that you know you are properly covered and in the event that you do suffer a loss you will not have the added stress of finding out you are underinsured and have to suffer a portion of the loss from your own pocket.

Call 1800 ASSESS today if you would like to organise your domestic value at risk assessment.

Commercial

A value at risk survey is vital in the commercial property market. Not only do the buildings need to be assessed for levels of cover, but other factors are equally important such as stock, machinery, fixtures and fittings and fire service charges. Another very important aspect for the commercial market is business interruption cover and whether or not your cover is adequate in the worst case scenario. Our value at risk survey will assess all of the above and we will work with your accountant and broker if necessary to ensure your levels of cover are adequate so that in a total loss scenario your business will not be forced into closure due to inadequate business interruption cover or underinsurance on the property itself. The survey will involve and onsite inspection and depending on the business, follow up consultation with your accountant. A comprehensive survey report will then be issued to you advising on the level of cover required and whether your current cover is adequate or needs to be altered. Call 1800 ASSESS today if you would like to organise your commercial value at risk assessment.

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Agricultural

A value at risk survey is vital in the agricultural market. The obvious factors are the cover on farm buildings and the land itself and ensuring the levels of cover are adequate so as not to fall victim to underinsurance. All farms are different in size and also business conducted but some other risk factors that need to be assessed are damage cause by livestock, machinery injuries and fatalities and visitors and walkers to the land and whether or not your need cover for injury to those persons. Our survey will involve an onsite inspection of the farm land and various buildings. A comprehensive survey report will then be issued to you advising on the level of cover required and whether your current cover is adequate or needs to be altered.
Call 1800 ASSESS today if you would like to organise your agricultural value at risk assessment.

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