Is insurance becoming so expensive that you are thinking of self-insuring?
The recent devastating blaze in Perth, Western Australia, which started on February 01 but spread until it scorched 9,000 hectares and destroyed 71 homes – has left affected residents to face enormous costs. Many have been forced to stay in evacuation centres, despite Perth’s strict COVID-19 lockdown.
Are you ditching insurance due to affordability concerns?
According to a study from the University of Tasmania, up to 10% of homeowners do not have home insurance and 40% of renters do not have contents insurance.
With climate change causing more frequent and intense natural disasters, the affordability challenges in insurance look set to continue – but some insurers are working to address the issues.
Working with an insurance adviser means they can highlight areas where your business and property portfolio may be underinsured and work with you to obtain affordable insurance. This is just one of the areas an insurance broker can assist you with their expertise. To review your business insurance, contact our expert team today.
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General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.
Clear Insurance Pty Ltd. ABN 41 601 916 689. AFSL No. 548953.
