Options for all domestic properties
Domestic Insurance is designed to protect your property that you have worked so hard to obtain against anything from cyclones to grandchildren running amok.
Our highly qualified staff in the general insurance department can assist you with getting the correct cover for your situation. The cover that we can offer through having direct relationships with insurers far exceeds anything they will offer to direct clients.
The impact that a broker can have in settling your claims cannot be underestimated, when the unforeseen strikes again, who will get your claim out of a queue and getting settled, we will.
We can assist you with the following domestic insurance services
Home building Insurance
Contents insurance for your home
Named valuable items
Landlords insurance for your investment property
Holiday home insurance
Residential strata insurance services
Insurance for cars, boats, jet skis and more
Residential Strata and Investment
Home and Contents
Insurance for all vehicles
Insurance for your investments
What does residential strata insurance cover?
Generally, it covers the shared property and common property, held under a body corporate structure. This typically includes walls, windows, ceilings, floors, lifts, pools, wiring, balconies and landscaping.
The main additional covers include
- Liability for injury or damage occurring in common areas
- Liability for office bearers, arising from the operation of the body corporate
- Breakdown of machinery, such as lifts, pool pumps and central air conditioning units
- An additional percentage to allow for increased building costs following a catastrophe
Apart from the exclusions in the Policy, the other factors to consider are relating to the building sum insured and the liability limit.
If either of these amounts are inadequate, the unit owners are responsible for the shortfall, irrespective of whether their unit was involved or not.
Before purchasing a unit, you should always investigate any outstanding liability claims, as you could become responsible for your share of the shortfall, even though you were not the owner of a unit in the complex, at the time of the cause.
Home and Contents
When it comes to covering your house and contents, which for many people is the single largest investment that they will make, it is important to get the right cover.
The better policies cover accidental damage up to the full sum insured. The fundamental difference between these policies and the “standard” ones, which cover nominated events is that under the accidental damage policy, everything is covered unless it’s excluded, whereas the other type specifically nominates only the events which it does cover. In the first type, the onus of proving that an exclusion applies is on the insurer, whereas you have to prove the damage was one of the nominated events under the “standard’ policy and also that it is not otherwise excluded…potentially a much more difficult task.
Generally, the covers you see promoted on TV, will be these more basic covers, with much lower cover for specific items, cover outside the home and it will contain “unusual” exclusions.
The most common mistake people make when selecting a sum insured is to take the value of the land off the value of the property, but this leads to the danger of underinsurance…(which is estimated at 40%).
If you think about it…a property in a “desirable” area with a magnificent view, will be worth much more than if exactly the same building sat on an “average” block of land…yet the replacement cost of the building would be identical.
Again, the better policies cover contents outside the house, anywhere in the world.