Valuations / Risk Engineering
We work with a number of risk professionals to make sure your covered.
Gone are the days where you could present very limited information to insurers and expect multiple competitive quotes to come back. In the modern insurance landscape it’s increasingly difficult to find cover at all for certain types of risks. Also as many business’s have noticed the price of insurance has risen substantially in last handful of years. It’s now more critical than ever to present your risk awareness to insurers in the most accurate way.
Some of the best ways to do this is by investing in quality risk engineering. Otherwise known as a risk survey. Also by getting your assets valued to check your sums insured are correct. These things do cost money in the short term, but over the long run tend to be cost savings to business in the form of less claim frequency and downtime.
Risk Engineering
Typically a survey at a single site might cost between $2,000 – $4,000 plus GST. This may seem expensive, but is usually recouped within the first 12 months through a reduced insurance rate, or savings in downtime and number of potential claims.
Valuations
This is one of the simplest things a business can do to make sure their sums insured are set correctly. If you own buildings or plant/equipment you should be getting this performed every 2 years. Most of our clients see a very quick payback period on their investment here.
General Advice Disclaimer
This information does not take into account the objectives, financial situation or needs of any person. Before making a decision, you should consider whether it is appropriate in light of your particular objectives, financial situation or needs.
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Norton Group Pty Ltd t/as Norton & Co Insurance ABN 11 628 176 787 is an Authorised Representative of Resilium Insurance Broking Pty Ltd ABN 92 169 975 973 AFSL No 460382