Whilst you are reviewing your policy renewal documents, please keep in mind the following:
- Are you under insured? Under insurance is a very common issue amongst small and medium size businesses and can be very costly in the event of a claim. Please check the below list and talk to your broker about potential gaps in your coverage.
- Is your Contents Sum Insured sufficient? Please take the time to check that all of your contents are insured in the event of a claim.
Please note that there may be a range of uninsured sections in your office insurance policy,including:
- Property (Including Theft and Accidental Damage)
- Business Interruption
- Public Liability/Products Liability
- Employee Dishonesty
- Machinery Breakdown
- Electronic Equipment
- General Property
- Taxation Investigation
In addition to the above, your proposed policy could currently exclude Flood.
The definition of Flood is – the covering of normally dry land by water that has escaped or been released from the normal confines of:
- A lake (whether or not it has been altered or modified)
- A river (whether or not it has been altered or modified)
- A creek (whether or not it has been altered or modified)
- Another natural watercourse (whether or not it has been altered or modified)
- A reservoir
- A canal
- A dam.
Please take the time to consider including the above and notify your broker if you would like to discuss any of the above uninsured risks, if you would like Flood to be included in your policy, or if you have any other additional questions – we are here to help you.