Experience has taught us that approximately two thirds of all residential homes and contents are underinsured by between 20 – 50%. The reality is that very few property owners are correctly covered.

The policy will indicate whether the retaining walls are covered and list any exclusions which apply to them. If retaining walls are not specifically excluded, and the damage which happens is caused by something other than the mentioned exclusions, the retaining wall will be covered within the terms of the policy. Certain retaining walls are uninsurable due to the nature of their construction and the intrinsically higher incidence of damage claims related to them.

The purpose of a retaining wall is to separate different levels of soil in a terrain intended by nature to be sloped. As a result of this natural tendency, there is a constant natural force behind the wall, putting pressure on the wall and trying to return the soil to its natural sloping state.

Many sectional title owners renovate and upgrade their units over the years with the aim of adding to their living comfort and market value. These owner-installed upgrades often pose a challenge when determining the replacement cost to insure a sectional title scheme.

This blog comprises a number of typical customer complaints that we deal with on a regular basis. Along with these complaints, we include our responses for easy reference and insight into common insurance valuation matters.