Often property owners think their properties are fully covered in the event of a hurricane but forget about the “Average Clause” and how it can affect the funds received in the event of a claim.

Average Clause states, the policy owner should bear a portion of the loss if the asset is insured for less than the actual replacement value. So, in simpler terms, if your property is under-insured at the time of a loss, the amount paid will only be a percentage of the claim.

Don’t worry, you can prevent this by following these precautionary measures;

If after you have taken the precautionary measure you realize that your sums insured are not adequate, then contact us at 4652511 (St. Kitts) or 4695430 (Nevis) today! Ensure your property is adequately insured…remember once a loss happens, it will be too late!