Property Insurance

Cover at a glance

Ways to protect your property include ISR, Business Package, Strata or Commercial Landlords Insurance Policies
Cover can be obtained on a Defined Events, Accidental Damage or All Risks basis
Excess/deductibles can be adjusted to cater for your risk appetite
Additional covers and sublimits can be adjusted to your specific needs

Policy Overview

Property Insurance is essential for protecting your physical assets, including buildings, contents, and equipment, from potential damage or loss. Coverage can be tailored to suit your unique needs through various policy options, such as an Industrial Special Risks (ISR) policy, Business Package policy, Strata Title policy, or Commercial Landlords policy. Each of these policies is designed to address specific situations, and we are here to help you determine which one is most appropriate for your business or property.

Typically, Property Insurance safeguards against risks such as fire, storm damage, impact, and malicious acts, along with other unpredictable events. Coverage can be arranged on different bases, including Defined Events, Accidental Damage, or All Risks. We can guide you through the distinctions between these options and provide expert advice on how to best secure your valuable assets.

When selecting Property Insurance, there are several key factors to consider beyond just basic coverage. These include choosing the right excess level, identifying additional covers that may be necessary, and ensuring the appropriate sub-limits for specific sections of the policy. Our experienced team is here to help navigate these variables and ensure you have a tailored insurance solution that provides comprehensive protection for your property.

The information provided on this page that may have been implied is General Advice only and does not take into consideration your specific needs, risk appetite or financial requirements. Please contact our office to discuss and review your needs and the appropriate financial product best suited to meet your requirements . Before purchasing any financial product, you should always read the Product Disclosure Statement to ensure the product is suitable for your needs.

Frequently Asked Questions

What is the difference between an ISR policy and a Business Package policy?

An Industrial Special Risks (ISR) policy is typically designed for larger businesses and provides broad coverage for high-value property and assets. A Business Package policy, on the other hand, is usually suited for small to medium-sized enterprises (SMEs) and offers flexible coverage that can be customised based on the specific needs of the business. ISR policies tend to have higher limits and more comprehensive protection, while Business Package policies allow you to select cover modules based on your operations.

What is the meaning of ‘Defined Events’ and how does it differ from ‘All Risks’ coverage?

‘Defined Events’ coverage protects against specific listed risks, such as fire, storm, or theft. If an event is not listed, it won’t be covered. ‘All Risks’ coverage, however, is more comprehensive, covering all events unless specifically excluded in the policy. Accidental Damage falls between these, covering unintentional damage but with some limitations. We can help you assess which coverage option is best for your business.

Can I adjust my excess?

Yes. The excess is the amount you contribute towards the claim in the event of a loss. We can work with you to determine your risk appetite which influences the excess that you should be selecting. In some cases insurers will impose a minimum level of excess.

Can I customise my Property Insurance policy?

Yes, Property Insurance policies are highly customisable. You can adjust the level of excess, include additional covers such as glass, flood, or equipment breakdown, and set sub-limits for specific sections of the policy. Our team will work with you to tailor your policy to meet your unique risk profile and ensure that you have the right protection in place.

What factors affect the cost of Property Insurance?

Several factors influence the cost of Property Insurance, including the location of your property, the type of business operations, the value of the assets being insured, the level of cover, and your claims history. The type of coverage you choose, such as Defined Events or All Risks, also affects premiums. We can help you find a balance between comprehensive coverage and cost efficiency.

Does Property Insurance cover natural disasters like floods or earthquakes?

Some policies include natural disasters such as floods, storms, and earthquakes as part of the standard coverage, while others may offer these as optional extras. It is crucial to review your policy carefully to ensure that you are covered for specific events that may be relevant to your location. Our team can help clarify which natural perils are included in your policy and assist with obtaining the right cover if needed.

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