• The Pitfalls of Under-Insurance

    As soon as you enter a price war, the actual cover you are getting falls straight out the window
    - John Elliott in The West Australian

    In last Monday's West Australia (March 12, 2012) Elliott Insurance's Founder and CEO was quoted in Neale Prior's article titled "Under-insurance pitfalls".

    Under-insurance is a major issue that threatens the property of Australians across the country - even if it's insured. Many people don't know that insurance companys can withold a portion of your agreed value if the value is significantly below the value of the property (ie under-insured).

    The recent floods in NSW highlighted the lessons learnt on this side of the county by victims of high-profile disasters such as the Toodyay and Margaret River fires.

    John's extensive expertise were called upon when he was asked to comment on this important topic.

    Chasing the lowest price was false economy because in most area it cost between $100 and $150 a year you get an extra $100,000 of building cover

    Under-insurance is an issue that all Australia home owners should review at least annually. To have your home and contents valued, try using a calculator or talk to your broker.

    Read the full article here.

    Contact Us

    Talk to a real person, not a machine.
    Discover the Elliott Insurance difference