Primo plc as a company first came into existence in 1971, although the name was not adopted until 2000. Primo is an amalgam of 9 different businesses, parts of which have been trading for over 50 years. The present management has not changed since 1987.
Insuring your home is easy, but it is also easy to get it wrong and find that when you have a claim it is not settled in full. The most common reason for this is ‘underinsurance’.
In order to give you a quotation we need to know the value of your possessions on a replacement as new basis. If you guess or deliberately give your insurers a figure that is too low, you will be underinsured and any claim will be reduced by the application of ‘average’, even if your claim is for only a part of your assets.
The most straightforward way to establish the correct sum insured is to list everything you own in every room in the house and record what it would cost to replace as new. Antiques, works of art collections and other collectables should be valued professionally on a regular basis. The overall total will be your sum insured.
If you know or expect your sum insured to be in excess of £100,000, a professional valuation of the entire contents of your home is a very good idea. We recommend Gurr Johns who are the largest independent specialist valuation company in Europe with a team of fulltime expert valuers working worldwide at all financial levels.
Insuring the fabric of your home for the correct value is no less important and unless it is a ‘listed’ property or of non-standard construction calculating a sum insured for rebuilding purposes is fairly straightforward using calculations provided by the Building Cost Information Service.
If you have only recently bought your house and have a mortgage, the surveyor appointed by the lender will tell you what sum insured is necessary to insure the building properly. Do not be tempted to use the purchase price of the house as your rebuilding sum insured. In prosperous areas where land is expensive you will pay too much by over insuring. Where land is cheap or the state of repair is poor reinstatement could easily cost much more than you paid originally and you will be underinsured.
Call us free on 05001 05001 for more information.