Premium Funding, a better way to pay

Tuesday, 11 June 2013

There has never been a better time to pay your monthly instalments with Insurance House Premium Funding.

Premium funding can benefit your business by allowing you to spread the cost of your insurance over the course of your policy. A funding company simply pays out the cost of your insurance to your insurer, and you repay the funding company over the course of 10 monthly instalments.

Paying monthly allows you to retain cash to inject back into your business so that you can capitalise on growth opportunities. Monthly instalments also flatten and conserve your cash flow to protect against fluctuating income. 

The application process is quick and easy, and the structure and term of your loan is extremely flexible to suit the needs of your business.

Insurance House Premium Funding has recently secured a partnership with Macquarie Bank, which will now act as our major funder. This means that you will reap the benefits of Macquarie’s extensive market experience and excellent service.

All of this means that there has never been a better time for you to take up premium funding and tap into the potential of your business. To find out more, talk to your broker today about your premium funding options or click here for more information.

Pharmacy Alliance chooses Insurance House

Wednesday, 05 June 2013

Insurance house are pleased to announce they are now the official preferred pharmacy insurance broker for Pharmacy Alliance members this year. Pharmacy Alliance is a 400+ strong member association dedicated to bringing Pharmacy owners the most competitive products and services available in the market today. 

Pharmacy Alliance cited the main reasons for the move to Insurance House were the significant savings pharmacy members will make, along with the tailored insurance package and service offered. The relationship is a testament to the values Insurance House holds of service, tailored products at competitive prices and building relationships. 

As well as support from a dedicated team with over 20 years’ experience in pharmacy insurance, Pharmacy Alliance members also benefit from:

• Tailored pharmacy insurance package
• Full Accidental Damage cover with no underinsurance clause
• Low excess on your property 
• Zero excess on your professional indemnity
• 24/7 Claims Hotline
• Legal advice from pharmacy experienced lawyers
• Risk Management advice and support through our dedicated risk committee

Already a member?

If you’re a member of Pharmacy Alliance and what to take advantage of this great package call our dedicated pharmacy insurance specialist Jim McConnell directly on 0437 737 283 and Toll Free on 1300 305 834 or email at pa.insurance@pharmacyalliance.com.au

Not yet a member?

If you would like to read more about Pharmacy Alliance, the insurance offering and becoming a member you can visit their website.

Travel cover for school holidays

Tuesday, 04 June 2013

Booked your school holiday travel?

Planning holidays for the school holidays can be a daunting task and many forget to have travel cover in place before they head off overseas or interstate.

Insurance House Travel Insurance (an ACE Travel Insurance product) provides cover for loss of deposits and cancellation charges from the date the policy is issued, with 5 plan options: Worldwide, Worldwide excluding Americas & Africa, South East Asia, New Zealand/Pacific Islands and Australia only.*

Insurance Travel House Insurance is designed for frequent travellers, providing cover for unlimited trips of up to 90 days each (Worldwide plan) or 45 days (Domestic plan).*

A reminder of some of the features of Insurance House Travel Cover*

• Unlimited Overseas Medical Expenses Cover
• Emergency Dental Cover
• Luggage and Travel Documents Cover
• Loss of Deposits and Cancellation Charges Cover
• 24 hour emergency phone assistance
  

Get a Quote Now
Insurance House receives commission from ACE Insurance Limited (ACE) for referring [customers/members/employees] to ACE. Commission is calculated as a percentage of the overall premium received by ACE on travel insurance policies underwritten as a result of these referrals.  By referring you to ACE, Insurance House is not making a recommendation or endorsing the travel insurance products. 

* Terms, conditions and exclusions apply. Benefit limits and policy excesses apply.

Contract Works Insurance for Builders

Thursday, 30 May 2013

In tough economic times more home owners are choosing to extend rather than sell, and in turn, contracted builders are undertaking more extension projects which are exposing them to more risk.  It's therefore important for builders to understand the increased exposure they face when working with existing structures.

Under most home insurance contracts, coverage on existing home and contents policies cease when an extension over a certain amount begins construction.  Often the only way to have the existing structure covered is to have it added under what is know as builders Contract Works Insurance. 

Let's look at the following example:

Mr and Mrs Smith have their home and contents insurance with QBE

• Building Insured for $400,000
• Contents insured for $100,000

They decide to undertake an extension and renovation to the value of $150,000. This will require them to vacate the premises for 6 months.

The following conditions apply under the QBE home insurance policy:

You must advise as soon as possible the following:

• You are having renovations undertaken.
• Your home is unoccupied for more than 100 days.

Furthermore the following exclusions apply:

• Water entering the home through any opening made for the purpose of alteration, additions, renovations or repairs.
• The removal or weakening of supports or foundations for the purpose of alteration, additions, renovations or repairs.

So as this example shows, home insurance policies will not properly protect the homeowner once renovations or extensions commence and as a builder it is very important that you make your client aware of this from the outset.  

So what's the solution?

A builders Contract Works policy can be extended to include an existing structure and ensure everyone is protected.  Note that this isn't an automatic inclusion and will need to be endorsed onto the Contract Works policy (with an extra premium most likely).

Don't take the risk of not being adequately protected before an extension project begins, for more specific advice contact our specialised Commercial works team on Toll Free 1300 305 834.