• UNDERSTATED - Insurance values

  • It is foolish to understate the value of contents and effect being moved or stored in order to pay a lower premium.

  • It is is being penny wise, pound foolish in reality.

  • If a claim is made on a shipment that is found to be undervalue by the owner, then the practice of "average" kicks in.

  • This is insurance terminology for calculating what the underwriter will pay out in a claim.  


1850 303090

North East Removals

Offering Quality Removal and Storage Services

Since 1977