Are your assets protected?

In The Event Of Something Happening, Are Your Assets Protected?

Natural disasters are unpredictable. So is the threat of theft and burglary. And accidents happen.

General Insurance is vital for protecting the valuable possessions that you have worked so hard to establish. Having the right amount of cover is just as important.

What Types Of General Insurance Are Available?

• Business Insurance
• Professional Indemnity Insurance
• Management Liability Insurance
• Trade Insurance
• Commercial Motor Insurance
• Construction Insurance
• Public Liability Insurance
• Residential and Commercial Strata Insurance
• Home and Contents Insurance
• Personal Motor Insurance
• Caravan and Trailer Insurance
• Boat Insurance
• Not for Profit Organisations Insurance
• Corporate and Personal Travel Insurance

How Much Is Enough?

70% of Australian homes are underinsured.

Is your home one of them?

It’s easy to forget how quickly your house can increase in value or how your possessions can accumulate, and there are many reasons why your home may be underinsured. Here are some of them:

• Increased building costs – the cost of building goes up. New laws demanding greener, more environmentally friendly housing have added upfront costs to building.
• Accumulation – Our possessions grow over time. Have you thought about the cost of replacing your entire wardrobe? If you added up the cost of your shoes, suits, dresses, casual wear, coats and hats, you’d be amazed.
• Upgrading – We replace our belongings with new ones over the years – the new luxurious sofa replaces the one from our first home or the teak garden furniture replaces the plastic.
• Our leisure pursuits widen – Over the years, we collect golf clubs, sporting apparel, fishing equipment, gym equipment, tennis racquets, camping gear, bikes, the list goes on.
• Children happen – and with them comes a whole variety of furniture, clothes, gadgets and of course toys!

How To Avoid Underinsurance On Your Home And Contents

• Review the replacement value of your home and contents every 12 months, especially if you live in high-risk areas (cyclone, bushfire, hail).
• When carrying out renovations to your home you should not wait until your renewal date to increase the sum insured on your policy.
• Go through each room in your house and list what it would cost to replace each item. Use our home and contents, valuer, to make the process easier.
• Check the sum insured against rebuilding costs – particularly for policies of 10 or more years.
• Make sure your home is regularly maintained and repaired to prevent disasters such as fires and theft from occurring.

Not all insurance policies offer the same features and benefits and claim time is not the time you want to find out that your insurance falls short of the mark.

Invest Blue offers a general insurance service through our alliance with Amicus Insurance Service Pty Ltd. Contact us today to arrange an appointment and review your general insurance.

What you need to know

This information is provided by Invest Blue Pty Ltd (ABN 91 100 874 744). The information contained in this article is of general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regards to those matters and seek personal financial, tax and/or legal advice prior to acting on this information. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relations to products and services provided to you.