3 Insurance Must Do’s

Useful Tips When Choosing Insurance

We’ve been in the business of finding the best policies for our clients for over 25 years – so there’s not much we haven’t seen!

We’d like to share some of this knowledge with you to help you avoid some of the more commonly made mistakes.

3 Insurance Must Do’s

1: Make sure you put the full names of all intended parties on your policy

Example: Company – Mobile Diesel Services
Registered Trading Name – John & Mary Smith,
Mobile Diesel Services

Important: The name on the policy must be the registered trading name, in this case, John & Mary Smith, Mobile Diesel Services

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2: Get the value of what you are insuring correct!

Under valuing may save you money on your premium, but could leave you with a large financial gap if you need to make a claim.

It’s a good idea to have your property/ business/ assets valued on a regular basis to ensure you are properly covered and are not disappointed in the event you need to make a claim.

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3: Report Claims Immediately and Never Admit Liability

It is best to report a claim as soon as possible; this will ensure your best memory of events and will allow your Insurance Broker to begin processing your claim with your insurer.
It is always helpful to your case to have your version of events registered before the other party puts forward their version.
Never admit liability. Instead, write down appropriate details like names and contact numbers and name of other party’s insurer, then call your Insurance Broker. We will guide you through the fine print and red tape to assist you achieve the best outcome in a timely manner.

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We know we said 3 must do’s, but there are so many tips we’d like to share with you!

4: Changes to your Policy – Anytime!

You can make changes to your insurance policy at any time throughout the year; you don’t have to wait for renewal time!

If your circumstances have changed, your insurance requirement may have changed too.

You may need to increase or decrease your cover, or even seek a new policy.
Your insurance policy can be altered at anytime should you have a change to be made.

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5: Cost-Effective AND Risk-Effective

Like most things, the cheapest policy is not necessarily going to give you the cover you would like to have. The fine print is often where the cost savings are made – but that cost saving could leave you high and dry at claim time.

Always check the fine print to be sure you have the cover you really want – remember, a policy needs to be risk-effective as well as cost-effective.

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6: Want to let us know of a problem you’ve had?

We'll do what we can to help ensure that you're covered against a similar issue in future

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Testimonials

“ We have been with East West Insurance for 12 years during which time their dedication in guiding us through the insurance maze has given us confidence that we have cover which truly reflects our bus...
”

David Swarbrick General Manager Asia Tyre Company Pty Ltd

3 Insurance Must Do’s