ABOUT CHOICES

“CHOICES” is a new and revolutionary Home building insurance policy from Globe.
The main features of the policy are:

COVER

You can insure for any amount up to a maximum of 30% of the value of your property.
You can cover your main building, out buildings and swimming pool against damage caused by Catastrophe and non-catastrophe perils.

There are a number of useful extensions that you can add to the policy such as Debris Removal Cost and the Professional Fees that you incur in rebuilding. You can also cover Alternative Accommodation costs or the rental income that you lose, if your Home is uninhabitable following a loss.

In addition you can cover your liability as owner of the property and to your domestic employees. With our Liability cover, you get peace of mind because if any accidents occur or claims are made, we will appoint a lawyer to defend you or, if you are at fault, to negotiate a settlement to protect you. On top of that, we will pay any legal costs involved.

DEDUCTIBLE

“CHOICES” has a minimum deductible of $75,000 but depending on a number of factors (such as size, condition and location of your home) your deductible might be higher. As soon as we have completed the inspection of your home we will let you know what your deductible will be. But rest assured, it will be much less than the 2% catastrophe deductible.

PERILS

Catastrophe perils are:

Earthquake or Volcanic Eruption
Storm, Tempest or Hurricane
Flood or Overflow of the sea

Non-Catastrophe perils are:

Fire, Lightning
Explosion
Riot, Strike and Malicious Damage
Aircraft and Impact damage

MAIN EXCLUSIONS

Loss or damage caused by:

IT IS IMPORTANT FOR EVERY INSURED TO KNOW

“CHOICES” is a First Loss policy, which means that you are insuring for less than the full value of your property. BY NOT INSURING YOUR PROPERTY FOR ITS FULL VALUE YOU ARE ASSUMING RISK. It is possible for your property to suffer damage that exceeds your sum insured and if this does happen, you will receive less than the amount of the loss. It is important to be aware that Jamaica is exposed to both Hurricanes and Earthquakes and it is impossible to predict with any certainty the amount of damage that your property will suffer in any of these events. If you have questions or need any further information about the Risks involved, please contact us, we will be happy to help you.