Each industry has its own nuances, as does each business. At Austcover, we’re not about forcing square pegs in round holes, because, quite simply, they don’t fit. As with any business, it is imperative that your insurance program is tailored to suit your specific situation. Just look back on any flooding event or natural disaster and it will demonstrate the risks of complacency when it comes to insurance. Without the right insurances in place you are leaving yourself and your business exposed. Underinsurance is one of the most common pitfalls facing businesses in Australia. There are a number of consequences that can result in underinsurance, with damage to reputation and bankruptcy being at the higher end of the spectrum.
There’s no point having insurance that doesn’t respond when you make a claim. This is why Austcover insurance advisors are so thorough from the outset when setting up your policy. We want you to get value for your money.
“We’re witnessing a more proactive trend where the client wants to understand the parameters of their coverage. Clients are taking a more active interest in their coverage. People aren’t signing up blindly, they are asking more questions about the value of their policies. Before the floods, people were quite complacent and didn’t really think they’d ever witness an event like the 1974 floods. Our clients are definitely thinking beyond what is happening today. More than ever, we think they are really appreciating our expert advice.”
Austcover’s Specialised Industry Team, speaking post 2011 floods
