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.