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Is Your Insurance Covering you?

Underinsurance can often go unnoticed, however, the effects of it can be the difference between receiving the correct payout during a claim or not.

By knowing what to look for when checking your insurance policy, you can significantly decrease the chance of Underinsurance occurring.

Sums Insured

It is crucial for your sums insured to be correct before taking out cover.

Purchase receipts or professional valuations can be helpful in understanding the values of different assets.

When it comes to property values, Addingstone are able to provide a service that estimates the rebuild value.

Inform your broker of any new purchases made throughout the duration of your policy to ensure sufficient cover for what you need.

Excesses and Endorsements

Most policies will include excesses and endorsements.

An excess is the amount you will have to pay towards a loss.

An endorsement is a condition on an insurance policy that has to be complied with in order for cover to be valid.

When a policy is presented to you, you should check that your wants and needs are met and you are able to comply with the conditions so that you aren’t left footing the claims bill yourself.

Insurance broker protecting man with umbrella



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