Allsure Insurance Director Melissa Donaldson talks about the biggest insurance issue that keeps her up at night. “It honestly terrifies me how many people have no insurance. Its one thing not to have adequate cover, it’s another to have NO insurance.
I believe it’s your social responsibility to have insurance, just the same as it’s your responsibility to stop at a red light.”
Why is insurance important? What are the risks of having no insurance?
If you have insurance, you are taking responsibility for protecting yourself (and sometimes others). It takes your risks and helps to spread them out so that you and your business are positioned to financially survive any insurable event.
It also lets you get on with your life and business. You are protecting your assets, your livelihood and your sanity. Sometimes it is there to help protect your family, the future of your business and therefore your employees and THEIR families, too.
Insurance shouldn’t take up all your brain space
I’m sure it must sit in the back of your mind… I don’t have insurance for the business I am running. What if my product hurts someone? What if someone sues me? What if there is a fire and I lose everything? What if I have to close my doors for a few months due to things that are out of my control, like bushfires or floods?
Imagine if you could clear up that head space for productive things like, how can I grow my business more? What is the next product I can develop? Who could I work with on my next project?
Free yourself from some of your worries about the business so you can work in and on the business instead.
Insurance gives you peace of mind.
It protects, replaces and encourages business growth.
Have questions about your insurance situation, or want a free quote? Contact us.
What is stopping you? Seems that procrastination plays a big part in not protecting your assets. Let us give you some insights into why you should take action before it’s too late.
What is an insurance embargo?
Insurance companies will often place an embargo on areas if there are events such as a fire, cyclone or flood. It’s basically a restriction the insurer applies where they won’t accept new policies in certain areas/circumstances. It can stop people from purchasing insurance when an event is known to be extremely likely or already having an impact.
What does this mean for you? If you think that the moment you know of a real fire threat coming your way, you can then go and place cover on your home just when you need it, you may find that you cannot!
We’re not able to place most insurance covers in areas that have an embargo on it. Once the threat has passed, the embargo is lifted and we can then look to place cover for you.
Don’t gamble with your risk
Did you know that some policies have time frame exclusions to events like bushfire? So if you’ve just gotten insurance, as we’re heading into summer. However, if there was a fire on your property within three days of binding cover, you may not be insured. Policies can vary, so you do need to read the policy wording.
Did you know that some insurance claims will be investigated for fraud? This is one way to keep things fair for those that have legitimate claims, and can help to keep the costs of insurance down.
Insurance is in place to share the risk with you. It allows you to go about your life and have your assets protected.
Mitigate and manage your insurable risks – and maybe save some money, too!
You can help yourself!
If you take measures to reduce your risk, insurance companies reward you.
Have a monitored alarm system? You could get a discount.
Is your landlord property looked after by a professional? You could save money.
Store your car in a garage and not on the street? Again you could get a discount.
Don’t have any young drivers? Another factor taken into account to lower your costs.
This information doesn’t take your personal or financial situation into account and may only be regarded as general advice. You should speak to us or your insurance broker before taking action. And, of course, always read the fine print (i.e. product disclosure statement) before purchasing any financial product.
Well done Sharon on your nine year anniversary at Allsure Insurance. We’ve been blessed to have this lovely lady head up our helm at Allsure for the past nine years.
You may have spoken to Sharon if you have called us or popped in to visit us. Sharon brings a wealth of insurance knowledge, being in the industry for 20 years (even though she doesn’t look a day over 21!)
Sharon is loved by us all at Allsure, she might seem quiet, however she will go into bat for our clients when needed.
Thank you, Sharon, for being such a wonderful part of our team!
Please call us for all your insurance needs. We may be a little biased, however, our team is awesome!
Did you know that there are a number of ways you can help reduce your risk which can often make your insurance premiums cheaper? Winner!
Risk mitigation examples
Have an alarm on your home? You could get a better discount or rate if it is a monitored alarm. Same with having key locks on your windows and deadlocks on your doors!
Businesses – a holistic approach
Perhaps you have a business, good policies and procedures will help with your insurance rates. Don’t forget about your people risk, too! Having good HR policies and procedures (that are easily accessible and consistently referenced) helps give you a more holistic risk management program.
Simple things like setting up a calendar reminder to review any office risks or hazards is a good way to stay on top of tripping hazards, ergonomics, any frayed wires or electrics and so on.
Hospitality horror stories
Hospitality and restaurant businesses take heed – if you have a deep fryer, you’ll need to have the flues cleaned on a maintenance program, most policies insist on this. Put tea towels away from a heat source, as they can combust and cause fires. Make sure rubbish is cleaned regularly and away from heat.There have been a couple of notable fires in Melbourne this year that may have been caused by some of these issues, one on the infamous Degraves St, and another at China Bar on the corner of Russell and Lonsdale St. The China Bar fire is estimated to have resulted in over $250,000 worth of damage (not to mention the cost to the business in a situation like this, from the disruption and having to close its doors and repair or rebuild the restaurant, pay its people or let them go, the loss of regular customers as they are forced to find new favourite restaurants…)
Creating a program that regularly addresses the common risk culprits, along with robust safety training for your team could make a huge headache turn into a manageable mishap.
Talk to us about how you could prevent or better manage your risks!
This information may be regarded as general advice. That is, your personal objectives, needs or financial situations were not taken into account when preparing this information. Accordingly, you should consider the appropriateness of any general advice we have given you, having regard to your own objectives, financial situation and needs before acting on it. Where the information relates to a particular financial product, you should obtain and consider the relevant product disclosure statement before making any decision to purchase that financial product.
We’re lucky enough to have a great office space and facilities, and happy to share! We have a great board room space that we like to offer FREE use of for our clients. Whether you’re a bit bored with your desk or office, or have an important meeting, come and change your view on the world for a morning or an afternoon!
What if I’m not a client, you say?
If you’re not currently an Allsure Insurance client (yet, haha), then all we require is a small donation to the Tour de Cure foundation.
About the space
Our board room seats 16, and during the day we have an in house barista who makes delicious coffee on our funky coffee machine. Catering can be arranged if required, too.