Disconnect any external or internal power at ground level
Do not dispose of any debris until your insurers have seen damage
Remove soft furnishings and floor coverings to dry store
Clear all drainage routes around the property and expose further drainage routes if possible Continue reading Top Tips for Flood Damage
Material Facts and the Law of Average
We all assume that when something goes wrong, our insurance company is there to help us out and foot the bill. This is the wrong assumption to make as an increasingly hig number of risks are either underinsured, insured incorrectly or are not insured at all.
Insurance companies, like any other business, are there to maximise profits, it is their duty to their shareholders to do so. In the event of a claim, insurance companies try to minimise the amount that they pay out through the strict enforcement of policy terms and conditions. Insurers use little known devices such as the ‘rule of average’. Continue reading The Devil is in the Detail
What happens when you make a claim
Once you submit a claim to your insurance company the first thing they will do is appoint one of their professional loss adjusters to use their experience and expertise to minimise the amount of money that they have to pay out. It is important to emphasise that the appointed loss adjuster acts solely on behalf of the insurance company and is paid by them.
When the loss assessor visits your property to inspect the damage he or she will discuss the nature and extent of the claim with you and prepare a detailed and confidential report for the insurance company that is not available to you, the policy holder. Continue reading Assessors and Adjusters
Once you submit a claim to your insurance company the first thing they will do is appoint one of their professional loss adjusters to use their experience and expertise to minimise the amount of money that they have to pay out. It is important to emphasise that the appointed loss assessor acts solely on behalf of the insurance company and is paid by them.
When the loss assessor visits your property to inspect the damage he or she will discuss the nature and extent of the claim with you and prepare a detailed and confidential report for the insurance company that is not available to you, the policy holder. Continue reading What happens when you make an insurance claim
Sean Cleary founder and Managing Director
Celebrating 25 years at Clearys Loss Assessors
This year Cleary’s Loss Assessing and Insurance Services celebrates’ 25 years in business. We spoke to Sean Cleary, founder and Managing Director on the early days of being in business way back in 1984 and about how much change has taken place over the last 25 years.
Ireland in the 1984 was a different country to the one we live in today. Unemployment peaked, emigration was extensive and interest rates were in double figures. Tax rates also were at record levels with the government of the day telling the people that they were living beyond their means and the country was broke. All was doom and gloom and although it is fair to draw parallels to the situation we face today, back then the outlook really was bleak with little or no hope for optimism. Continue reading From payphones to twitter
The insurance claims market is constantly changing, and usually in ways driven by the insurance companies themselves. We have noticed, and I’m sure you have too if you have been monitoring the press recently, that the insurance companies are changing the way they are dealing with claims. This is in our view, in order to slow down the payment of settlements. Don’t get me wrong, we are in no way implying that your insurers will not pay the claim, we are stating however, that they are taking longer to do so.
Here- to- fore, property damage claims were being dealt with, very quickly and we were constantly hearing from loss adjusters that they were under pressure from insurers to meet deadlines in relation to first visits of sites of damage. And then further deadlines in relation to producing reports, both preliminary reports and final reports to the insurance companies in order to progress the claim to settlement as quickly as possible. Payments were based cash with no effort by insurance companies to undertake any replacement or reinstatement work themselves Continue reading Why use an independent loss assessor?
Storm Damage & Your Policy
Global Warming?, Whatever your views on climate change or its causes, one need only look out a window to see the major changes in the Irish weather. We now receive heavier downpours, more severe flooding from storm surges, higher winds and more frequent and prolonged spells of bad weather.
Ultimately, storms in Ireland are more frequent and more severe. Your home insurance policy will cover the cost of repairing your home following storm damage, but here are a few tips to minimize damage where possible.
Batten Down the Hatches. Continue reading Storm Damage & Your Policy
The Irish economy is currently undergoing fundamental change in the wake of the recent financial crisis. Every business owner or manager must now take time to critically examine their position and prepare for a return to economic growth in the next 12 to 18 months. It is time to steady the ship.
All areas must be examined and maximised in a time when every penny counts. One critical component of every business is insurance cover and value at risk. If you can be confident that your sums insured are correct and fully cover you in the event of any loss you are in the minority. According to Sean Cleary of Cleary’s Loss Assessors, underinsurance is the biggest problem with commercial insurance claims worldwide. He recommends that every business should carry out a value at risk survey every 5 years. A value at risk survey will give business owners the correct values to insure and eliminate any shortfalls in claim settlement due to underinsurance. The survey can also indentify areas where there is a waste of premium and save your business unnecessary expense. Continue reading Value at Risk and your Business – Irish Hardware Assoc