Don’t be caught short

words: Brian Hart, SAIFInsure

SAIFInsure advises on cover valuations for property, and how to avoid under-insurance

It has always been one of the biggest issues in insurance to correctly establish the valuation of a building for reinstatement and insurance purposes and the same could be said for the machinery, plant and contents too.

The ramifications of an inadequate sum insured could lead to a substantially reduced claims payout from insurers. The vast majority of insurance policies apply the “Average Clause”, which is the percentage by which a claim may be reduced by insurers relevant to the percentage by which the property is deemed to be under-insured.


If you have a property insured for £500,000 and the true reinstatement sum is established as being £1,000,000, the figure you would receive is likely to be £250,000 as that is 50% of the insured sum and the same percentage by which you have insured the property. It could very well leave you having to raise substantial funds to reinstate the property and this is the very thing that we at SAIFInsure want you to avoid!

SAIFInsure proposal

We are pleased to be able to offer a desktop valuation service from Barrington, Corp & Harrington (BCH) who have partnered with SAIFInsure and Aviva Insurance to provide a service to our clients that will overcome underinsurance on the property aspects.

Asking for property valuations has always been relatively expensive, with costs starting at around £500 plus VAT, but BCH have developed a professional data-driven desk-based validation service.

How does it work?

BCH’s qualified surveyors will remotely assess your property and produce a report which utilises their expertise, multiple methods of calculations including variance checks.

SAIFInsure are mindful that we want to save you all valuable time so we will assist in the completion of the simple application which includes downloading the Google images of your property and submission and payment of the fees and the SAIFInsure team will show you how to do this. The valuation will be provided to you by email within five days of submission and payment.

The costs to you

BCH offer this service at a cost of £85 plus VAT per property and this works for properties up to £5,000,000 in declared value and can include Grade II listed properties (this facility will not work for Grade II* and Grade I listed properties).

There is no commission earned or costs applied by SAIFInsure for this as we believe this to be an important feature for our clients and for your financial security.

The benefits to you

You can have comfort that you’ll receive a professional valuation for the correct reinstatement value of your property, and on the basis that this is adopted into your insurance programme, you can receive further comfort from Aviva that for a period of three years from that valuation, Aviva will not apply an average to that sum insured and its subsequent index-linking increases in the event of a claim.

What to do next

What to do next If you wish to proceed with a valuation or indeed wish to know a little more, please contact us by any of the following means:

Email: Click here, or email Brian direct.

Call: 0203 603 4194 or 07740 577651

All current SAIFInsure commercial customers will receive an email over the coming weeks and as part of the renewal discussions detailing this offer we will also be asking them to fully consider their Machinery, Plant, Contents, Computer and Stock sums insured too.

Non SAIFInsure customers

We are mindful of course that a number of SAIF members don’t currently use SAIFInsure for their commercial cover and we would be very keen to offer this to you so please do email us with your existing Commercial policy schedule which will show your renewal date and we’ll ensure we submit a comparable insurance quotation while illustrating the broad range of coverage provided.

Please email these or contact us on 07740 577 651.

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