Frequently Asked Questions About Insurance
The answers below provide general information to help you prepare. Coverage details and entitlements must be determined from the quotation, policy schedule, endorsements and the actual policy terms.
Conceptual illustration; not an actual employee or customer.
Choosing Insurance and Requesting a Quote
Why do premiums differ between insurers?
Insurers use different risk information, terms, limits, exclusions, deductibles and underwriting approaches. You should therefore compare the details alongside the price.
Am I required to buy after requesting a quote?
No. An initial request is used to prepare options for your consideration. You should read the terms and ask questions before making a decision.
What information should I prepare?
It depends on the type of insurance. Generally, you will need details of what is to be insured, how it is used, its value, loss history and any existing policy.
Policies and Coverage
Does “All Risks” mean everything is covered?
No. The policy still has a defined scope, exclusions, conditions and duties of the insured. Always check the actual policy documents.
How should the sum insured be determined?
It should be based on a value appropriate to the type of property and the policy terms. Book value may not equal replacement cost.
Why must changes during the policy year be reported?
Changes to vehicles, locations, activities, property values or use may affect underwriting and coverage.
Renewals and Claims
When should I begin the renewal process?
Begin in advance so there is time to review information and claims history and compare terms. Do not wait until the final day.
What should I do first when an incident occurs?
Prioritise safety, prevent further loss and contact the emergency services or insurer as appropriate. Then gather evidence and notify the relevant parties.
How does A.U.S. assist with claims?
A.U.S. helps prepare a list of information and documents, coordinates matters and follows up on the process within the scope of its services. Coverage and claim payments are determined by the policy and the insurer.