Business Insurance

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How to minimise being underinsured

Many Australians, especially those who own businesses, discover they don’t have the cover they need in the worst possible circumstances. Insurance is one of those subjects that many people glaze over. So, just to test how knowledgeable you are about this important but unsexy topic, see how many of the following you can answer. Questions What type of insurance can provide cover if a natural disaster results in my business having to shut down for a period of time? What type of insurance can

Best Price

Why Best Price is a bad way to start a conversation about Insurance

If you’ve ever been on a beach overseas? You would have noticed how the shops now come to you. Traders with glasses, clothing, massage and even tattoos. When they walk up to you introduce themselves, they always start with “Best Price”, which may be fine if you need new glasses and a tattoo but what about when you need insurance. Best Price does not mean the best value for your Business Business insurance has always been a grudge purchase for small

Emerald Flood 2010

Does All Business Insurance Cover Flood?

Some business insurance claims in Australia has been the result of 1 in a 100-year flood, leaving many many businesses unaware and unprepared for the loss Does all business insurance cover flood? Does all business insurance cover flood? No according to Steve Sloan insurance broker with Insure 247? “Business insurance policies that cover property loss or damage can be altered to include flood insurance and the loss of income as a result of a flooding event, however, each policy and insurer have

Adequate insurance

Adequate insurance does your business have it?

Does your business have adequate insurance? 90% of small business owners in Australia think they do. However if you purchased business insurance over 3 years ago this might not be the case. Business insurer Vero has come up with some tips for business owners Why is underinsurance such a problem? Building regulations can change. Market movements such as inflation, skills shortages and the increasing cost of building materials. Changing needs of liability limits. One of the biggest causes of underinsurance is the increasing cost of

Business Insurance Quotes

5 Reason You Should Have Business Interruption Insurance

What would your business do in the event of a loss Most businesses insure against third party loss with public liability insurance, and most cover their asset with business insurance In 2015 insurer CGU conducted analysis of policies placed with them by Steadfast Insurance Brokers across the property and business interruption classes, they found that 60% of the insured chose not to insure against interruption. Your competitors will be happy to deal with your clients while the business is down Where would your customers

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Protecsure Equipment Insurance New Additional Benefits

Equipment insurer Protecsure has added new Additional Benefits for it Equipment Insurance. As technology continues enables businesses to become more mobile, they have recognised that it’s important to provide insurance solutions that are forward thinking and help keep business on the move. What is Equipment Insurance The equipment they cover under the policy includes: Tools of Trade Light Machinery Survey Equipment Mobile Electronic Mobile Medical Photographic Diagnostic and Measuring Musical Instruments Sports Equipment What are the New Additional Benefits   With effect from 5th February 2016, Protecsure will be enhancing their Equipment wording to automatically include the following additional

Business Interruption Insurance Explained

Business Interruption Insurance Helping Small Business?

Business Interruption Insurance There is more than 1,300,000 small to medium businesses (SME) in Australia, in the event of a major loss many of these businesses may be unprepared, that is where Business Interruption Insurance comes in. Business Interruption Insurance covers; Pay Wages Pay Your Rent Pay your Debtors And cover your loss of profits. Generally business interruption is included in Business Insurance packs, however, cover and indemnity periods may vary, if you unsure talk to a broker to discuss your needs 1300 046 787. Why get business interruption insurance? If

Chubb and ACE are now Chubb

   The New Chubb On Monday, 15 January 2016, ACE Limited completed the acquisition of the Chubb Corporation, creating a global insurance leader operating in 54 countries under the renowned Chubb name. In Australia the two companies are still separate legal entities, however the integration process is underway. The company will commence operations together as Chubb under one management structure on 1 April 2016. ACE and Chubb entities will stop competing When the transaction is completed and the new company is formed, the operations will no longer compete with


Consider how you business would cope after a catastrophic loss

Preparing for a Zombie Invasion   As part of management training we are encouraged to think out of the square, be creative and question our response to different situations. So after watching the latest series of The Walking Dead at Insure 247 we are preparing for the Zombie invasion.   We are working out the details, which team members we will take with us (definitely planning to take people who are a good shoot), need a team cook,

What is Expanded Polystyrene And How Does It Affect My Business Insurance

When completing a Business Insurance quote request or proposal you maybe asked “How much Expanded Polystyrene (EPS) does the premises contain?” So what is Expanded Polystyrene (EPS) and how does it affect my insurance premium?   What is EPS? Expanded Polystyrene (EPS) is synthetic aromatic polymer made from the monomer styrene. Polystyrene can be solid or foamed. It has many applications in construction including insulated panel systems for walls, roofs and floors as well as facades for both domestic and commercial buildings, food processing, cold storage,

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