What is renovator’s home and contents insurance?
April 1, 2016
Over the past 10 years there’s been a marked increase in the number of Australians choosing to renovate. But did you know that in some cases, a property may not be covered by home and contents insurance, while it is being renovated or extended? (more…)
Why you should be wary of cheap Home and Contents Insurance?
March 18, 2016
Plenty of insurance companies offer ‘off the shelf’ home and contents insurance products at very competitive prices. What you may not realise is that these kinds of insurance products have usually been built down to a price. So although you pay less, you also get less if and when you need to make a claim. (more…)
Are you really covered in an Uber?
March 4, 2016
The South Australian Government is currently reviewing the regulatory framework that governs ridesharing services, such as Uber. Some argue that the outcomes from the review could result in significant changes to the ridesharing and taxi sectors.
Insurance has been flagged as key issue in the review.
The facts
Worker’s Compensation Related to Psychological Injury to Rise
February 19, 2016
The Australian Financial Review recently reported that worker’s compensation claims linked to psychological injury might increase in the near future.
The prediction originated from an Australian employment lawyer, who highlighted the recent claim of a Police Administrator. The administrator in question received worker’s compensation for a minor disagreement in the workplace.
Worker’s Comp awarded over minor workplace disagreement
According to the AFR, worker’s compensation was awarded to the administrator from the Australian Federal Police as a result of a disagreement relating to a workflow chart shown in a meeting in Canberra in 2014.
The administrator expressed she had not seen the chart prior to the meeting, so would not be open to discussing it during the meeting. The manager stopped the meeting and sent the administrator an email expressing disappointment.
As a result of the situation, the administrator said she felt unwell, nauseous and had back pain later that day.
Deputy President Gary Humphries ruled the administrator’s employment significantly contributed to her ailments, and awarded compensation.
What are the implications for employers?
Psychological claims in the workforce are not solely limited to workers’ in the public sector. This is why it is vital that employers take out comprehensive worker’s compensation cover, which includes protection against psychological injury.
In some cases, a successful worker’s compensation claim for psychological injury entitles an employee to:
- A fully paid salary for the first 45 weeks they are away from work; and
- 75% of their wage, and medical and pharmacy expenses, until they come back to work or retire.
Of course, psychological injury is a very serious issue. But given the increase in media-attention around psychologically driven claims, it makes sense to ensure your worker’s compensation is in order.
Contact us getting a competitively priced worker’s compensation policy for your workplace. We can also review your existing policy to ensure it is comprehensive and competitively priced.
How to Protect my Home against Fire
February 5, 2016
Fire danger is high this time of year in Australia, and it’s unfortunate that we’ve already experienced severe blazes in Waroona, Western Australia and the East Coast.
Bush fires cause inexplicable property damage to the lives and property of people involved. But what happens when a fire occurs in suburban parts of Australia?
Last month a home on Wellington Street in Mosman Park, Western Australia went up in flames after rags combusted and caught fire. The 2-storey property was just 2-weeks away from being fully renovated when the fire took place.
$6 million in damage occurred as a result of the fire. The owners were said to be relieved they were not living in the home when the fire occurred. Head here for the full story.
Protecting your home against fire
The Department of Fire and Emergency Services (DFES) offers advice on how to protect a property from the risk of fire.
- Ensure mains powered smoke alarms are installed.
- Have an escape plan ready, and practice it with members of your family.
- Use a licensed installer or qualified trades person for security and heating systems.
- Use a mesh screen guard to stop sparks and debris falling from open fires.
- Regularly clean your chimney and flue to prevent ash and soot build-up.
- Don’t leave food unattended when cooking.
- Don’t leave burning cigarettes unattended.
- Don’t leave children with candles, lighters or matches.
- Buy extinguishers and fire blankets that are Australian standard.
For more home fire safety tips, please visit the DFES website.
Fire Insurance for your home
Most comprehensive Home Contents Insurance packages will include cover for fire. If you’re not sure whether your existing insurance policy includes this, please contact our office. We will review your policy, and we will also assess whether more competitive insurance options are available.
If you’re not covered for fire damage at home, we can source a competitive Contents Insurance option that matches your needs. Find out more here or contact us today.
Season’s Greetings from Trident Insurance Group
December 11, 2015
It’s been an amazing year for Trident Insurance Group, and we’d like to thank all of our wonderful clients, staff, friends and family for their support in 2015.
Most importantly, please stay safe over this Festive Season, and if you are going on holiday, make sure you have your home and contents insurance in order, as well as any travel insurance you may need.
Are you covered this Festive Season?
If you do need assistance with insurance over the holidays, we are open until Thursday 24 December. One of our friendly insurance brokers can help you find a solution so you have peace of mind over the holiday season.
Happy New Year
We’re also very excited to be ringing in 2016, as this marks our 22nd year operating as an insurance broker in Western Australia. Our business has grown significantly over this time, and we really can’t thank our loyal clients and hard-working employees enough for this success.
Opening hours
During the holiday season, our opening hours will be as follows:
- From Friday 25 December 2015 the office is closed.
- We re-open on Monday 4 January 2016.
We look forward to doing business with you in 2016. Until then, if you have any enquiries about your existing insurances, or if you want insurance solutions over the holiday break, please contact our office.
Why do I need home and contents insurance?
November 20, 2015
This blog is designed to give you an overview of what home and contents insurance is, and why you really do need it. Yes, we’re being bold here, because we believe home and contents insurance is indeed a must in Australia. (ASIC thinks so too!)
But before we go into why, let’s start with the basics.
What is home and contents insurance?
Home and contents insurance are 2 separate kinds of insurance, which are usually packaged together.
According to ASIC’s MoneySmart website:
- Home insurance covers costs associated with loss or damage to the building you own.
- Contents insurance covers costs associated with loss or damage to your possessions.
Why do I need home and contents insurance?
- Home insurance covers you for incidents that are beyond your control, like storms, bushfires and other natural disasters.
- Most home loan contracts require you to have home insurance.
- You can choose what level of cover you require, based on what you’re at risk of experiencing (e.g. some areas are more prone to floods than others.)
- Policies can be expanded to include ‘Accidental Damage’ or other benefits for specific requirements.
What home and contents insurance is right for me?
Most insurance companies bundle home and contents insurance into one package. We highly recommend choosing your policy based on your own unique needs, rather than going for a ‘one-size-fits-all’ solution.
A good insurance broker helps you select the insurance benefits that are right for you. And they’ll make sure you’re not paying for anything unnecessary. Their goal is to give you the right level of cover, at the most competitive price.
How do I get started?
Contact a Trident Insurance Broker to discuss what level of home and contents insurance is right for you. We can also check your existing policy, as there may be more competitive and suitable options available for you. This initial consultation is free of charge and comes with no obligations.
Should I buy insurance online?
November 6, 2015
Over the past 12 months we’ve seen a marked rise in online insurance in Australia. It makes sense – buying insurance online is generally fast, and cover can be secured for many types of home and business requirements.
But this potential benefit can also be a major pitfall, especially if you ever need to make a claim at some point in the future.
Know what you’re getting
When the Queensland floods occurred in late 2010 and early 2011, many insured business owners and individuals assumed they were covered for flood damage in their insurance policy. In many cases, they weren’t, and unfortunately only discovered this upon making a claim.
Luckily, many insurance companies came to the table and insured them for flood damage anyway. (We’re certainly glad they did!)
Is there a solution?
Every now and then we hear of this happening – someone goes to claim on their insurance policy and discovers they are not covered. This is one good reason why we recommend speaking with an insurance broking professional in person, before taking out an insurance policy.
A good insurance broker will compare different policies and then pinpoint one or a few that align with your business or personal requirements. They’ll also ensure you have all of the information you need to understand what your policy covers.
This is not always possible online.
Here are some other points to consider, if you’re not sure about whether to get insurance online or in person:
- Getting insurance online is convenient and generally quick. But this fast process also increases the possibility of making uninformed decisions, which may impact you in the future.
- Yes, you can compare insurance online quickly, but an insurance broker can do this for you too. Plus, a broker generally has a wider variety of insurance policies to compare – so you are likely to achieve good value for money.
- An online broker cannot answer questions immediately. In most cases, you will need to email your questions to an online broker, which can be a slow process.
- While online services work well for many industries, insurance policies tend to be complex, and require careful consideration.
- A good broker has your best interests at heart. They offer a personal touch that you simply cannot achieve from an online service.
Contact our insurance brokers about securing a competitive policy for your home, business or vehicle.
Protect your marine business the right way
October 23, 2015
There are a lot of different marine insurance policies out there, which can make choosing the right cover a little daunting. Of course, a good marine underwriter can guide you towards a policy that not only meets your needs, but also suits your budget.
Today, we’ve decided to share information about one of our most popular and fastest growing marine product – Marine Combined Liability.
Who benefits from holding a Marine Combined Liability policy?
This policy is perfect for businesses who operate within the marine industry. Especially those who have 3rd party watercrafts in their care.
Some examples include:
- Marine trades, such as boat builders and boat detailers.
- Marina, wharf or jetty operators.
- Yacht or rowing clubs.
Of course, there are plenty of other businesses in the marine sector who would benefit from the peace of mind provided by Marine Combined Liability cover.
What do you get out of it?
Trident’s Marine Combined Liability cover has plenty of features, but in this blog, we’re going to focus on some of the main ones. These include:
- Combined General Public and Products Liability – includes Marine Liability (Ship Repairer’s Liability) for businesses with land and water-based liability risks.
- A significant Goods in Care, Custody or Control limit of up to $20 million – this protects businesses that have high value goods within their physical or legal control.
- Statutory Liability Cover – with a sublimit of up to $1 million.
- Claims Preparation Costs – with a sublimit of up to $20,000.
- Testing, Commissioning and Removal of Wrecks – all covered.
- No limit on length of watercraft – work completed on crafts of any size is covered.
- Professional Indemnity – cover for advice provided without a fee is automatically included. (You may also opt to include a Professional Indemnity extension, if you provide professional advice for a fee.)
Case Study – Sparky causes boats to catch fire
5 large cruisers caught fire in Pittwater, Sydney in 2009. One of the boats was insured by Trident. The fire started when an electrician used spirits to clean up grease on the boat he was working on. When he turned on a vacuum, a spark ignited the spirits and the boat caught fire. Astoundingly, 4 other boats in the area caught fire too.
A fast thinking fire crew cut the mooring lines, which allowed the boats to drift away from others in the marina. The fires were eventually put out and no one was seriously injured by the blaze.
Total damage was estimated at around $5 million.
The electrician would have seriously benefited from Marine Combined Liability insurance in this case. Read an article on the incident in the Sydney Morning Herald.
Get a quote fast
In most cases, we are able to provide a Marine Combined Liability quote within the same business day it is requested. Our Marine Combined Liability cover is backed by Lloyd’s of London – one of the most reputable and market leading marine insurers in the world.
For more information about Marine Combined Liability insurance, please head here. Or contact our brokers for a free quote.
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