The LA wildfires cost $450B, but only a fraction of properties was insured. This could push Aussie insurance premiums even higher. Here’s what SMEs can do to prepare for rising costs and risks.
Flooding is a major and worsening risk for many Australian property owners. Recent findings from Monash University reveal that 370,000 homes and 120,000 commercial properties face a 1% annual risk of flooding. That translates to a significant number of properties at risk. Plus with climate change, these risks are expected to rise even further. Whether you’re a […]
Home insurance premiums in Australia are on the rise, adding pressure to already-tight household budgets. It’s worth investigating what you can do to get a better deal. A comparison insurance website recently announced that Australians could save $819 on average annually by switching insurers. They’re right on the money that securing savings depends on where […]
Home builders are doing it tough. According to Master Builders Australia, they’ve borne the biggest risk of the recent economic downturn and construction costs ballooning 40%. If your SME has managed all that, you’re one of the lucky ones, with insolvency figures on the rise. And there’s another spanner in the works – increased insurance premiums. […]
An estimated eight in 10 Australian homeowners are underinsured, according to insurance websites that cite the Insurance Council of Australia (ICA) or the Australian Securities and Investments Commission (ASIC). If you consider the rise in extreme weather events, inflation, mortgage interest rates, and average insurance premiums since then, it makes sense to expect underinsurance rates […]
The cost of living has been a struggle for Australian businesses and households. Added to this, expect home insurance to rise, typically by about 10%. We’ll share our tips on reducing the hit to your hip pocket, while still ensuring appropriate coverage. Why premiums are increasing The cost of claims is increasing both in terms […]
Your home might be your castle, but the boundary fence is your front line. What does it mean for your insurance if your fence is damaged or destroyed? This article prepares you mentally for the process should you need to claim. Are fences covered by home insurance? Typically, home insurance covers fence damage or destruction […]
As of September last year, there were 251,000 short-term rentals registered across Australia, down from 400,000 pre-pandemic. However, not all short-term stays are registered. If you rent out your main residence, this article is for you. We’re sharing a swag of tips to help you manage your risks. Understanding property insurance To help protect your home from […]
Renovating or decluttering your home, or a change in circumstances, could introduce risks that your insurance policy may or may not cover. Plus, insurers may tweak the fine print of their policies due to changes in risks and the insurance market. This article explains when and how to review and update your policy to ensure the coverage […]
About eight in 10 Australian homes are underinsured, according to (ASIC) Australian Securities and Investments Commission. As well, 11% of householders have no building insurance, and 23% have neither building nor contents insurance. If you’re in any of those categories, here’s an update on what risks you face and how you can better protect what’s usually your key asset. […]
