When you insure your Home and Contents you do not only insure your property and possessions, you also insure your personal liability.
1 in 10 Australian small businesses with insurance don’t have enough cover to protect themselves against business disruption, legal liabilities or loss or damage to their assets. This is referred to as ‘underinsurance’ and it can greatly increase the risk of a business having to close down if something goes wrong.
When you’re running a business, sorting out your insurance cover often drops to the bottom of your never ending to-do list. That’s where we can help. We do the hard work of reviewing your insurance strategy, adapting your cover as your business changes, and giving you peace of mind that your business is properly insured.
All of us at NQIB would like to thank you for your support over the past twelve months and look forward to continuing our association in the new year. We extend our best wishes to you and your family for the festive season and wish you a safe and prosperous new year.
With Jodie Kimber
Living in North Queensland has so many benefits. For nearly all of the year we have the most amazing weather. You could be forgiven for forgetting it's winter right now. The trade-off for such great weather is that dreaded cyclone season. We live with it, we deal with it and we prepare for it by getting our Cyclone Kit set up in the months leading up to Christmas. Don't leave it until then to get your home insurances kit up to date. There are so many other events that can cause a claim.
Here are a couple of different scenarios that you may not have thought could or would be covered under your Home & Contents insurance.
He finally asked and with THAT ring. It was $8,000 when you were pointing it out in the window. It is sooooo beautiful!! Then devastation. It's late and you have been out celebrating for a few hours when you realise you no longer have your ring on. Despite searches, it's gone and with all the excitement, you didn't even think to call and add it to your insurance policy.
We know we can never replace what THAT ring meant but we can tell you that under a Home & Contents policy taken out through NQIB you have automatic cover for any single piece of jewellery up to $10,000. Crisis averted! 2nd time around, it's still sooooo beautiful and fits nice and tight this time.
For you it may not be an engagement ring and it may not be worth quite that much but it’s good to know that you have the cover if it’s needed, without any extra cost.
Back to Cyclone Season and you haven’t been quite so lucky this time. Everyone is okay but your home has seen better days. Not only has there been some damage from the cyclone but a storm surge has made a complete mess. Storm Surge, STORM SURGE!! Do I have cover for storm surge? I know I talked to my broker about this. Wait, yes I do. We discussed it and what could happen if I chose the policy without it. Good call!
At NQIB, we live with the same risks and concerns that you do. We live in and know the area and can assist you to choose the most suitable cover for your circumstances.
There is something else that happens when an area is hit by a catastrophe. Not just a cyclone but any event that is declared by the insurance companies as catastrophic. When there are significant repairs that need to be carried out in one region, building materials and resources become scarce due to high demand. This then increases the costs of materials and labour and your Sum Insured may not be adequate to cover these costs. Under a Home & Contents policy taken out through NQIB you will have an extra 30% on top of your building sum insured to cover these extra costs to either repair or replace your building following a catastrophic event.
In addition to the above, under a Home & Contents Insurance policy taken out through NQIB, depending on the level of cover taken, there are various additional benefits that are included at no additional cost and paid over and above your sum insured. These may include but are not limited to: Removal of debris, Contents away from the home, Fees incurred in relation to repair or replacement of your home, Replacement of locks and keys, Contents in storage and many others.
Managing your claim is also an integral part of the NQIB service. With a dedicated Claims Team we can guide and assist you through the whole claims process. As your broker our prime responsibility is to you, our client. We are your representative, not the representative of an insurance company. We have a duty to act in your best interests at all times. As your local broker we take this duty very seriously, particularly when it comes to guiding you through the claims process. We understand your insurance policy and we know how the system works. We know it can be stressful for you or your business and we are here to assist. We are here when you need us most.
There are so many different scenarios that we could come up with that we are sure you have never thought about when it comes to your home building and home contents insurance needs. That is why we recommend you make an appointment with your local NQIB broker today to discuss your insurance requirements. Please feel free to call our team on 07 4755 6100 if you have any questions.
All of the above information is General Advice only and is given without taking into account your specific objectives, financial situation or needs. To determine if any or all of the above covers are included under your insurance policy, please refer you your Schedule of Insurance and Product Disclosure Statements for full details of cover. Alternately, please contact your local NQIB Broker for confirmation of cover.