FAQs

Should I simply look for the cheapest policy?

Insurance policies can be very complex, and the cheapest policy will not always meet all of your needs.

Sometimes what is left out of a policy is as important as what is included, and the cheapest option may omit a risk that you cannot afford to carry yourself.

Interpreting the terms of the policy is part of your IBAU broker’s role and you should listen to their advice as you would to a doctor or lawyer.

Although, the policy cost will always be a factor, ensuring you have the right cover in place when it comes to the time to make a claim is vital, and our top priority.

Should I simply look for the cheapest policy?

Insurance policies can be very complex, and the cheapest policy will not always meet all of your needs.

Sometimes what is left out of a policy is as important as what is included, and the cheapest option may omit a risk that you cannot afford to carry yourself.

Interpreting the terms of the policy is part of your IBAU broker’s role and you should listen to their advice as you would to a doctor or lawyer.

Although, the policy cost will always be a factor, ensuring you have the right cover in place when it comes to the time to make a claim is vital, and our top priority.

How much insurance is enough?

The first step in determining the answer to this question is to work with your broker to identify and define the areas of risk for you or your business. The decision then is which risks to retain (ie, not insure) and which risks to transfer through insurance. The sums insured should be relevant to the risk, taking special care not to underinsure and be subjected to co-insurance clauses.

Choosing to take the risk yourself to save money can leave you vulnerable and may severely affect your cash flow or assets. This is where our experience can assist you in making decisions on how much insurance you require to adequately cover your various risks.