The real test of an insurance policy comes when you have to make a claim. Whatever you are trying to claim for has to be covered under the policy, so thinking ahead – as tough as it may be- and ensuring your policy is as thorough as possible is really important.
For many people, their insurance experiences don’t really move beyond their homes, cars and sometimes travel. Domestic and vehicle policies are quite similar, but eventually buyers will encounter questions as they read through the fine print. Like does the policy cover my trailer? Or what if I accidentally leave the bath running and flood the house? How much should the excess be on a smash repair claim?
Despite these grey areas, people are increasingly treating home and vehicle insurance just like any other goods and services and buying them online. Convenience is the name of the game.
While this is easy to do, it’s up to you to make the judgement on whether the policy suits your needs. It’s up to you to recognise the risk and know exactly what you want or need. Plus, the person on the other end of the phone line doesn’t know you and will have a tough time providing you with the personalised advice you need.
Recent research has shown that when people buy insurance online, the price is the first and foremost consideration – ignoring the crucial details. This is of major concern to insurance regulators, not only in Australia, but all across the world.
It’s like buying a car. You can buy a stock standard model and add the extras you would want – be it a satnav or a fancy metallic paint job. The thing is, that these are the things you want, even if they do drive the price up a little bit. The wider the range of risks you want covered, the higher the price. Essentially, basic insurance policies are your bare bones and it costs a bit extra to flesh it out.
The same goes for commercial insurance. Regardless of the size of your business, all of them face risks of varying degrees. So you need to consider whether the basic policy you bought over the computer covers all these risks. If you want a strong policy, it has to be tailored to the unique needs of your business and insurance brokers can manage this for you.
Adroit’s brokers have a wealth of experience in finding the right insurance policies for you and your business. This involves developing personal relationships and delving to discover exactly what risks your business is exposed to, then protecting you from those risks with a comprehensive, bespoke insurance policy at the best possible price. Our wide network gives us access to unique policies that often provide more protection for no additional cost.
You also have the peace of mind that when something goes wrong, you have our support in guiding you through the claim process. We take the weight, and it doesn’t cost you a cent.