Valuations for insurance cover

Most companies carry insurance cover

on their Buildings and Plant, often at a cost of several thousands pounds a year in insurance premiums, however, far too few take the necessary care to ensure that the insurance cover provided is adequate.

This is not a problem,

unless the disaster that they are insuring against occurs!

Following a serious fire,

flood damage, storm damage or explosion Insurers appoint specialists who will calculate the values of the Building and Plant insured. Normally the Insurance policy requires these to be insured at new like for like replacement cost.

If under-insurance is revealed,

and all too often it is, then the policy holder will be penalised by ‘the average clause’ and will only be able to recover a proportion of the loss.

This could mean

that the company cannot recover enough from their insurers to fully rebuild and re-equip. If the correct insurance cover is in place – often involving only modest additional premium – this problem does not arise.

A Thompson & Bryan insurance valuation

will ensure that you have the necessary information to insure at the correct level. The valuation will often cost only a few hundred pounds. For example, a building with a re-instatement value of one million pounds costs £650 + VAT to value at our current fee scale.

Plant and machinery valuations

are always tailored to suit the individual requirements of the client and a representative will visit your premises to provide you with a free quotation and advice without any obligation on your part.