Sponsored feature: Insurance Premium Tax rises to 12% – time to shop around!

by Paul Holmes

Apart from increasing premiums, a concerning observation when reviewing golf clubs’ insurance portfolios is the regularity of inaccurate declarations. It’s understandable that for golf club managers and secretaries reviewing the club’s insurances and making the right choice can be a trying process. With providers offering a plethora of golf specific extensions varying from one policy to another, many of which are now considered essential, it’s easy to get side-tracked, but it is vital that the fundamentals and basic declarations of asset values and financial information are reviewed accurately. Failure to undertake this simple task can cause serious financial impact in the event of a claim. With sector expertise, internal protocols will highlight inaccuracies as part of the review process.

Is your cover as good as it could be? It’s not unusual to see limited theft damage to buildings, high excesses for theft of property in the open, forced and violent entry clauses during business hours, low limits for extensions and co-insurance clauses, to name but a few. It is surprising how many clubs still have policies that are not golf club specific by design.

A hot topic at present is malicious damage to the golf course, cover in this respect varies greatly from one provider to the next, both in terms of the indemnity limit and cover. The vital element of your course cover to scrutinise is the LIMIT PER CLAIM. Irrigation systems too are often inappropriately covered.

Clubs should consider the reality that you may not be getting such a good deal. It is possible that you have been insured with the same company for several years and when you made the decision to buy at that time it was the right choice. Are the terms still the same, have the excesses increased, you may have subsequently had a few years without a claim, has your premium gone down, or you may have made claims and assume that your premium is justified? Other incremental factors may have gradually increased your premiums and coupled with a further hike in Insurance Premium Tax to 12 per cent from this month those increases will be compounded.

Recent Linkscover golf club insurance reviews are showing a trend that clubs are paying significantly higher premiums than they could be, so before you renew your policy obtain alternative quotes and you will likely find an improvement in both cover and cost.

Paul Holmes is the Director of Linkscover.

Linkscover would be delighted to hear from you and provide you with a detailed, no obligation, review and quotation for your club’s insurance portfolio.

For an overview of the cover and more information please visit www.linkscover.com or

tel: 0203 858 0018.

Email: office@linkscover.com