Don't Become a Victim of the Average Clause!

Insurance companies have recently tightened up their rules and many business and home owners have been left out of pocket when they received their insurance claim pay out.

Practically all Insurance  companies now apply an average clause to determine the amount they are going to pay when settling a claim.

What it means, in plain language, is that the payment for any loss or damage, will be in proportion to the value insured and the cost of replacing or rebuilding your property in its entirety .

So if the cost of rebuilding your home or replacing your business asset is €200,000 and you were only insured for €100,000, when your office, factory or house burns down, you will only be paid €50,000, as the insurance company assumes that you were taking the risk yourself for the other 50% of the asset value.

If, in the case of a business, you have underestimated the losses from a trade disruption your claim award could be too little to restart your business easily.

When you take out an insurance policy, never underestimate the rebuild cost of your property and especially for businesses the value of your potential trading losses, stock loss and devaluation, supply chain disruption, either mistakenly or on purpose.

For the sake of  saving a couple of Euros on your insurance premium, you are putting yourself at a major risk.

Do you really know the rebuild cost of your property?

Or the full replacement value of your business asset?

Or how much not trading for even a short while can cost?

Don't guess and gamble when renewing your Insurance Policy ...

Over- insurance is almost as bad as under-insurance. There is no benefit in paying more than you should.

You will not get a bigger payout if you claim. Your insurer will simply get more money for taking no additional risk.

Have your business value professionally assessed and have the peace of mind…

  • that you are paying the right insurance premium and avoiding the perils of underinsurance
  • and know that in case of any damage, you should receive full compensation for your loss


Get The Benefits Of  A Professional Loss Assessor’s Advice

  • Have The Right Amount Of Cover
  • Be Covered For The Right Risks
  • Pay The Optimum Premium
  • Get A Full Compensation For Your Loss In Case Of A Claim


Call  086 357 1713, to find out more or request a call back by entering your details below:

Trevor Kelly

Trevor Kelly

BSc (Hons) Building Surveying.
Registered Public Loss Assessor, regulated by the Central Bank of Ireland

Trevor has over 16 years of experience as an Insurance Loss Assessor. His services are fully compliant with the regulations of the Central Bank of Ireland.

He is:

  • SCSI Registered Chartered Building Surveyor
  • Member of the Society of Chartered Surveyors Ireland
  • Certified Insurance Practitioner
  • Member of the Insurance Institute of Ireland
  • Member of the Irish Claims Consultant’s Association
  • Member of British Damage Management Association