GIO
To help you maintain adequate business insurance protection GIO applies an indexed increase to your sums insured under the Fire & Other Damage cover in the GIO Business Insurance Policy.
This means the amount of your cover should automatically increase each year to help keep up with the impact of inflation and the costs of rebuilding, repair and replacement.
This indexed increase applies to your nominated sums insured and will be reflected in your annual premium. As your premium increases so does your cover.
You must still review your sums insured regularly to take account of your individual circumstances – changes in your business, renovations, increased stock levels etc. GIO recommends you seek assistance from an expert building valuation consultant.
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