As part of our commitment to you, we regularly review insurance claims that are declined by insurers and see how we can help you avoid them.
A key factor we found in the industry is insurers rejecting claims due to the ‘wear and tear’ clause. To avoid this happening to our clients, we’ve put together this guide to raise awareness on what you can do to prevent insurance claims being rejected at your property due to ‘wear and tear’.
Property insurance is designed to protect you against the risk of sudden incidents such as a fire, floods (including pipes bursting, although the British weather could force external flooding), or your property being broken into and your contents stolen.
As most things, your property and contents will deteriorate over time and use, this is called ‘wear and tear’. Depending on your insurance policy, claims can be settled on a ‘new for old’ basis or, you can receive a proportionate pay-out depending on the age of the property/items. It’s worth checking your policy documents to see which of the two applies to you. You can always specify if you want one or the other with your broker when taking out a new policy.
General wear and tear isn’t covered by your insurance policy so we recommend you check your property regularly and carry out maintenance and repairs to stop any problems before they occur. In fact most insurance policies will have a condition that maintenance and repairs are part of the conditions of your policy.
Here are five tips to keeping your property in a good condition:
Roof Maintenance – Roofs are subject to a lot wear and tear since they battle the elements, from thunderstorms, snow, nature to birds making nests or other animals. Getting a roof inspection could not be simpler with drone technology available, this is particularly important for flat roofs as they are prone to damage the most. If you get any repairs or inspections it is vital to keep receipts and reports.
Boiler Servicing - A broken down boiler can be expensive to repair and I don’t think anyone wants an unexpected cost of several hundred pounds. Boiler breakdown can often be covered by an optional Home Emergency Insurance Policy which we supply for both homeowners and landlords.
Water Drainage – Checking your guttering and water escape pipes aren’t blocked can stop a flood and damage to your property. Check where they lead to in the off chance they have moved, water drainage should avoid soaking the brickwork and should carry water away from the property.
Check Building Work – Checking any renovations or extensions is vital, poor workmanship can invalidate your Property Insurance, if you notice any issues contact your contractor and ask them to refit/repair any building work.
Internal Building Fixtures – Checking your doors, windows, hinges, locks, handles are in working order will expand the life of your property. Cleaning and lubricating these will prolong the life of them, meaning you’re less likely to make an insurance claim.
Looking after your property will look after your investment, so whether you’re a home owner or a landlord following these tips will protect your asset and keep your Property Insurance Premiums low.
To get a quote for your Property Insurance or Home Emergency Cover for Homeowners or Landlords, click here.