Accurately Value Your Club Buildings and Furnishings
An insurance claim should be a straightforward process. You pay your insurer a premium and when you have a loss they send you a cheque to cover the claim in full and happiness prevails. The only hiccup is that, in the UK, almost 80% of commercial properties could be underinsured – according to The Royal Institution of Chartered Surveyors. They could be underinsured by perhaps 60% of their true value.
What do you need to do?
Bennett Commercial Ltd, Chartered Surveyors and Commercial Asset Valuers, are now offering social clubs accurate valuations for a low cost. The Bennett Commercial Low Cost Valuation Scheme will accurately value the buildings, furnishings, and equipment of clubs. This is to ensure that clubs are not penalised by inadequate insurance.
The Scheme’s aim is safeguard clubs, guaranteeing their figures are set the correct levels with no danger of under insurance. Very often an insurance policy fails to provide full recovery because the Sums Insured has been underestimated. The Declared Value must represent the theoretical cost of the re-building of the entire premises, including demolition. It is not appropriate to substitute for cheaper materials or for a smaller property. The Declared Value also includes boundary walls, fences, roadways and gardens.
Having Bennett Commercial Ltd assess the value of your club will ensure you are correctly insured. This measure will also simplify claims as Bennett Commercial Ltd make sure to retain a detailed inventory of your furnishings and equipment for supporting evidence. The extensive photographic record is good practice to additional verification.
For further information and a quote, contact Graham Bennett at Bennett Commercial Ltd. Enquire here: