Property Values – When Did You Last Update These?

GCMA official supplier Howden Sport say it is vital golf clubs look to review their property valuations every couple of years...

Ensuring you have the correct property values are a key requirements from insurers in the event of a claim. Many property insurance policies include an Average Clause, which seeks to counteract underinsurance. The condition makes you responsible for the percentage of the loss proportionate to the degree of underinsurance. If following a claim, it is found a property is underinsurance by 50%, you will be expected to bear 50% of the loss incurred. It is for this reason ensuring adequate valuation levels are vital....
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