Are you underinsured?

Do you remember what your house looked like when you first bought it? Have you increased your contents insurance as your home or family expands? Have you updated your business insurance as your business has grown?

If you haven’t you may be underinsured. Now is the time to act and make sure that you are properly covered in case the worst happens.

Underinsurance is unfortunately common in Australia, making it difficult for families to resume their standard of living, and leaving businesses with a bill if they need to make a major claim. If you are not fully covered, you may end up with a shortfall at a time when you can least afford it.

Common reasons for underinsurance include:

• Businesses not understanding the cover types they actually need
• Picking a sum insured based on the cost of the premium.
• Not accounting for all assets
• Not accounting for upgrades to your home and belongings

Now might be the right time to contact one of our experienced General Insurance Brokers to ensure you are covered correctly. They can discuss your situation and how to implement the cover you need in the most affordable way.

For peace of mind that your home and business is protected, contact us today.

*Sources: https://www.canstar.com.au/life-insurance/underinsurance-australia