Contact Us:
Galea Insurance Brokers
Official address:
6 Triq L-Imhazen Floriana Malta
Phone: 21 235880 - Main Line, 21 225884 - Office of the Managing Director,
99493588 - For Emergencies
info@galeabrokers.com
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Galea Insurance Brokers Limited C- 12858 is licensed to carry out the business of insurance broking and is regulated by the Malta Financial Services Authority.
insurance for youR peace of mind
Fixing your sum insured
This means when you take out a new house insurance policy you’ll now need to specify the amount it would cost to fully rebuild your house. This is called the sum insured, and it’s the maximum your insurance company will pay out if your home is destroyed. It is now your responsibility to ensure this figure is enough to rebuild your home in case of a total loss and to keep this figure up-to-date.
Your sum insured is not the same as your house’s market value. It’s the likely cost of replacing your home on its current site, based on its current:
size
standard and type of construction
structures, like decks, driveways, sheds, garages, retaining walls, fencing and outbuildings
period features (typically in villas and bungalows)
special features like permanent swimming and spa pools.
This amount needs to include everything it would cost to rebuild your home, including:
building material and labour costs
demolition and removal of debris
site preparation
professional fees
compliance costs.
Your architect could help you calculate the sum insured.
For a list of local architects:
https://www.yellow.com.mt/headings/Engineers-Structural
Ask for full theft cover which does not require forcible and violent entry in the event of theft.
Acts of God are covered
Replacement of door locks covered
Accidental damage to fixed glass automatically covered........... and lots more
Your home is probably your largest single financial investment. You must ensure that its buildings and contents are properly insured. No matter how big or small your home is, we can find the right balance to matches all your needs. We can cater for policies that can include a combination of the following covers:
- Fire, Lightning, Explosion, Smoke, Earthquake
- Burglary or attempted Theft
- Cost of replacing locks and keys
- Storm, Flood, Escape of water or oil
- Riot, Strikes, Labour and Political disturbances
- Vandalism, Malicious Damage
- Impact by vehicles or animals
- Falling of aerial objects
- Damage to public services
- Rent and cost of reasonable alternative accommodation
- Common areas in case of apartments
- Property owner’s liability
- Accidental damage to audio-visual equipment
- Accidental damage to computers
- Contents temporarily removed
- Liability as tenants and to the public
- Accidents to servants and damages to their goods
- Fatal injury to the Insured
- Accidental breakage of fixed glass, sanitary fittings
- Accidental breakage of underground services
Galea Insurance Brokers Ltd.
Contact Us: 21235880 or 21 221371