Frequently Asked Questions

How long do I have to pay when I have incepted cover?
You have 30 days to complete and return the proposal form together with payment.

How can I pay?
You can pay by credit card, cash, cheque or electronic funds transfer. Our electronic funds details are displayed on both our invoices and statements.

What do I use as a reference when I pay by electronic funds?
Please use your invoice number which is located in the top right hand area of the invoice under the Tax Invoice heading. It also shows in the direct credit option part of the invoice as well.

What is ITC?
ITC relates to when you lodge a claim. This ITC abbreviation stands for ‘Input Tax Credit’. This is the amount that you claim back from the government at tax time and is your GST amount. Most businesses claim 100% ITC and this will then be deducted from the settlement amount.

Can I pay a credit card payment over the phone?
Yes, we take credit card payments over the phone as well as in the mail, on email and faxes as well.

What is the difference between Accidental Damage and Defined Events Cover?
Accidental Damage wording – this is the best policy you can purchase, not only is cover provided for all the standard defined events such as fire, storm damage, burglary, vehicle impact, fusion to name a few but you are also covered for physical accidental breakage so for example if you were moving your expensive vase from one room to another and dropped it you could claim with this policy.

Defined Events wording – Cover is for storm, fire or explosion, burglary, glass breakage, earthquake, lightning, malicious acts, impact by vehicle, Fusion of an electric motor, etc.

What is the difference between Market Value or Agreed Value?
The differences between these two options are as follows:

• Agreed Value means that in the event of a total loss, you would be entitled to the Agreed Value sum insured noted on your policy for that period of insurance (less any excess).
• Market Value means that in the event of a total loss, you would be paid the current Market Value on the day your vehicle had the accident. Market Values can fluctuate during the Policy Period.

Do I automatically have cover for windscreen on my car insurance?
Windscreen Extension: This is NOT automatically included within your Policy for private use vehicles. You will be asked about this option when requesting a quotation for your vehicle.

Do I get a discount for selecting Restricted and Nominated Driver?
Restricted Driver Discount: Drivers under 30 years of age are restricted under this coverage. If you select this discount option, please remember that if someone unexpected drives your vehicle and falls outside this criteria, then no coverage is afforded.

Nominated Driver Discount: Drivers who are noted on the Policy Schedule are the only ones that are covered in the case of an accident. This minimises the risk on the Insurers part and allows the premium to be discounted as your Policy wont respond to anyone else driving the vehicle.

Should I include the superannuation figures within my wage figures?
Superannuation is NOT to be included within your wages figures when submitting your Wages Declaration

Should I include GST in the sub-contractors wages figures?
GST is not to be included within the Sub Contractors wages figures as these are claimable by the Subbie.

Do I need to cover sub contractors for Workers Compensation?
This constantly causes confusion and a question I am asked many many times, clients still believe if someone is trading under their own ABN then they will have all their insurances in place and more often than not if they are trading under their own name they won’t have workers comp and clients don’t realise they have to cover them.

Am I covered if I have goods stolen from my locked up yard at the rear of my workshop?
The answer is no. For commercial insurance policies the Burglary section only provides cover if there are signs of forceable and violent entry into a locked building. A building is defined in the policy as a lockable structure with solid walls and a roof. If the building has gaps where thieves can get inside without forceable and violent means then no cover is provided. Even if the thieves cut through a fence, a locked, fenced yard does not fit the definition of a building therefore no cover is provided.

Clients can apply to insurers for a special extension called “Theft without forceable and violent entry” where insurers may consider the exposure, excess and additional premium for this cover.

“what do I do if I have a claim” maybe we can explain our role here and even though a lot of claims are lodged direct we are still acting as an intermediary between the insured and the claims department to assist in the claims process.