Published: 6 November 2024
Tips to help you navigate insurance in tough times
Watch our new video for strategies and tips on managing insurance during tough times. Learn about policy renewal, paying via instalments and getting the best value from your insurance.
- Early engagement is key. It’s a good idea for brokers and clients to start working together well in advance of the policy renewal date.
- Time and information are key to better outcomes. Our brokers will take the time to understand your needs and negotiate with insurers on your behalf.
- Providing your broker with comprehensive details, particularly about what personal assets you need to insure, is essential.
- Once your broker knows what’s important to you, they can explain how different insurance options work, point out key policy exclusions and inclusions, and help you choose the best cover.
- Pay via instalments:To help manage your cashflow, we can spread out your insurance payments over the year via easy to manage instalments. You can choose to pay weekly, fortnightly, monthly, or quarterly.
- Ensure you get your “sum insured” right:The cost to build a new house in New Zealand’s residential construction sector saw its first decline in 12 years this July*. This makes it an ideal time to assess your sum insured and consider a current property valuation. Keep in mind, your sum insured is based on rebuilding costs, so it’s important to set an amount that reflects today’s construction prices.
Working with your broker can help ensure you have the right insurance cover to protect your assets and safeguard your business from unexpected risks.
Any questions? Get in touch with your Rothbury broker.