Leading Insurance Property Claims expert, Paul Murchan, Director, Gullion Ltd Loss Assessors and Surveyors gave a stark warning to property owners who could leave themselves thousands of pounds out of pocket by under insuring their homes or commercial buildings.
Paul said, “Under insurance is a huge risk for any property owner. All property should be insured to its full value to avoid a reduced claim. For most, this is their biggest tangible asset so it should be protected. A common misconception is that the insurance value should reflect what the property is worth on the market however this is not true – the value should be an accurate representation of the money needed to rebuild it.
“There are a number of free online tools available to help people generate the right level of cover for their property such as calculator.bcis.co.uk – it is also a helpful source of information on risk, exclusions and extensions etc. for those approaching their policy renewal date.
“In the unfortunate event where you need to make a claim, call Gullion Ltd Loss Assessors and Surveyors on 028 3082 8838. Regulated by the Central Bank of Ireland we will negotiate the best settlement on your behalf to ensure you achieve your full entitlement, under the terms and conditions of your policy and we can help restore your property.”