The Average Clause: What You Need to Know

This clause is vital to understand for anyone who is responsible for insuring a building.

If you insure your building for less than the rebuilding cost, your insurer may pay you less if you make a claim. This applies to private properties, rental properties and commercial buildings.

Being told that your claim won't be fully settled is very stressful, upsetting, and can lead to financial problems. We think it's a preventable issue and always suggest getting a professional assessment to find the right rebuilding cost.

However, we also understand that this can be both time consuming and expensive. We are happy to work with Rebuild Cost Assessment, who can give a detailed report through online or in-person assessments. In many cases these assessments are FREE OF CHARGE to our clients and at competitive rates when the free service does not apply. 

In the report RCA will provide information on the time needed for rebuilding. This information will help in determining the appropriate insurance coverage for business interruption.

To learn more about Rebuild Cost Assessment, go to this website:

Contact our brokers for more information on how we can assist with building insurance.