Homeowners Tips

At what value should I insure?

You should always insure for the full current rebuilding cost or replacement value.

Is there an excess on the policy?

There is an excess of 2% of the sum insured, per item as set out in the schedule if there is a loss arising from any of the following catastrophes/perils:

a) Hurricane, cyclone, tornado, windstorm
b) Flood or overflow of the sea as a result of (a) above
c) Earthquake and volcanic eruption or overflow of the sea caused thereby.
There is a minimum excess of EC$1,500.00

Other excesses include:

Theft - $250.00
Full theft - $250.00
Malicious damage, impact damage and burst pipes - $500.00
Storm and flood - $1,000.00
Riot and strike - $1,000.00

What should I do in the event of a loss?

a) You must take all reasonable steps to secure the property in order to prevent further damage;
b) Do emergency repairs if necessary;
c) Check your policy to see if loss or damage is covered;
d) Notify us, your broker or agent, in writing as soon as possible;
e) Notify the police immediately if a crime is involved;
f) Supply us (at your expense) with full particulars of claim, in writing, including estimates of repairs, within 20 days of the incident;
g) Forward to us immediately any letter, claim, writ or summons received by you and not make any admission, offer, payment or promise of payment without our consent.