Underinsurance
The classes of insurance listed below contain provisions as to average and underinsurance. This means we require you to insurance for the full value or maximum potential risk. if you do not do so, and you are underinsured, the Underwriter will pay you less in the event of a claim, calculated by a formula in the policy which takes account of the degree of underinsurance.
Classes of Insurance containing underinsurance clauses:
- Business Insurance
- Contractors Plant and Machinery
- Construction/Liability
- Trades Insurance
- Office Insurance
- Fire
- Industrial Special Risks
- Farm Insurance
- Loss of Profits
- Machinery and Electronic