Why It’s Vital To Check Assumptions In Your Policy
Your policy is issued based on a number of standard assumptions about you, your property, and your tenants. These assumptions are not just formalities. They directly affect whether your policy remains valid and whether a future claim would be paid.
Your protection is only as good as the information it’s based on. If you have any doubts, contact our team today to review your policy together.
Common Assumptions Include:-
- The property is not a listed building or an HMO
- Tenants are not in arrears or being evicted
- Regular inspections are carried out, and records are kept
- All tenants are properly referenced
- Rent is paid directly by the tenant and not in cash
Why It Matters:
If any of the assumptions are incorrect or change during your policy term and the insurer is not informed, your cover may be invalid. This could lead to:-
- Rejected claims
- Policy cancellation or voiding
- Financial and legal risk to you as the policyholder
What You Can Do:
- Check your policy documents carefully
- Make sure the assumptions listed are correct
- Tell us immediately if something changes
