Frequently Asked Questions
What happens when my motor insurance expires?
Cover ceases upon the expiry of your policy so it is important you renew the insurance before the expiry date to ensure there is continuity of cover. There is no ‘grace period’ for motor insurance. You must call us on or before the coverage expires to arrange for the renewal or continuation of cover. If you call us after this time then cover will restart from the date of your call to us.
Who can drive my private vehicle?
Unless we have advised otherwise, Any driver with your permission can drive the motor vehicle, subject to them having a valid driving licence. The vehicle can be used for social domestic and pleasure purposes only. There are exclusions regarding use for Hire or Reward and Racing.
Am I covered to drive other vehicles?
Yes. Your Caribbean Alliance private motor insurance policy does provide Third Party Only cover whilst you, the policyholder is driving other private vehicles. This cover is not extended to hire cars or vehicles used for commercial purposes.
What is a policy excess or deductible?
Most policies include an excess or deductible, which is the amount to be paid by the policyholder in the event of a claim. There’s both a compulsory excess, imposed by the insurer, and a voluntary excess. The phrase ‘total excess’ combines these two factors and is the amount you pay in the event of a claim. Taking the risk of choosing a higher voluntary excess may help to reduce your premium. If you make a claim, the excess can be deducted from the total amount paid out, or you may be asked to pay it up front.
How do I work out my car's value?
Always estimate your car’s value honestly, but an approximate estimation is usually fine as an insurer will typically base a pay-out on market value. You may consider the cost you paid for the car and depreciated over the time you have owned the car. You may also contact a valuator to get a professional opinion on the value.
How do I calculate the rebuild cost of my home?
It is always best to have a professional valuer value your home. The rebuild value of your home may vary depending on the location and finishes used. You can also ask your builder what would be a replacement cost for your home. The cost of rebuild should also include the costs of removal of debris and professional fees.
What is under-insurance or “Average”?
It is important you insure for the full cost of reinstatement. In the event of claim, if the building sum insured is less than 85% of the full reinstatement value, we will reduce our claim settlement figure to reflect the proportion of under-insurance.
Am I covered if I take property out of my home?
What's a single article limit?
In the event of a claim, insurers usually apply a ‘single article limit’ to items under the contents or personal possession sections. The single article limit is the maximum amount an insurer will pay for any one item that is not specifically listed with a higher value. Always list your high value items of $4,000 to ensure that there will be cover if they are damaged.
High Risk Items
Our Home Contents insurance includes cover for computers, jewellery, gold, silver, watches and works of art whilst within the home. There is a limit of one third of the total sum insured for such items, unless specified.
What is accidental damage cover?
This covers loss or damage of an accidental nature. With buildings insurance, this could cover an incident such as accidentally knocking a nail through a pipe, whereas contents insurance could cover paint spilt over a carpet or a valuable vase being smashed.
Exclusions such as normal wear and tear and accidental damage caused by pets usually apply and, whilst accidental damage cover is included with some policies, with others you might have to buy it as an add-on.
Do I need business insurance if I work from home?
If you work from home in any capacity, it’s essential to inform your home insurer. You won’t necessarily have to take out additional cover, but not telling them could invalidate a future claim.
When obtaining quotes for home insurance you’ll be asked if your home has any business or professional use. It will be classed as such if you have business-related visitors to the property more than once a month, if you or anyone else run a business from the property, or if paying guests stay in your home. Occasionally working from home for your employer doesn’t usually count as business use.
My property is unoccupied - can I still get a quote?
We can insure your property even if it is unoccupied. However there will be no cover for theft, burst pipe, flooding and malicious damage. In our quotation process you’ll be asked if the property is left unoccupied for long periods. Ensure you answer accurately, but note that after 40 days of un-occupancy these covers are excluded.
Can I get insurance for a holiday home?
Yes. Our standard home insurance policy can cover your holiday home. You should also let us know if your holiday home is rented to allow us to give you extra coverage to cover paying guests.
What happens if my home is uninhabitable after a Fire or Hurricane?
Whilst the property is being repaired our policy will pay for the cost of alternative accommodation for a period of up to 2 years. The maximum we will pay is up to 10% of your building sum insured.
Does my Home Insurance cover me against Earthquakes and Hurricanes?
Yes, Building and Contents are insured against both of these natural catastrophies.
Coverage will always be subject to a deductible of 2%. A deductible or excess is the first amount you have to pay in the event of a claim, subject to a minimum amount. We will advise you of this at the time of quotation.