Monthly Archive for: ‘August, 2017’
Understanding Accidental Damage Insurance

If you’re running a business, you’ll know that there are many things that you have to oversee and attend to. As a result of wearing many hats, some things seem to fall through the cracks, costing you more than you’d like it to. Although unforeseen circumstances do arise and things do happen, it’s important to know that your building is covered when they do. This is where accidental damage insurance comes in and it’s a must for all business owners.
What is it? Accidental damage insurance acts as a safety net, covering the accidental physical loss of, or damage to property that is not covered in any other section of the policy. At Compendium we tailor make your policy to ensure you have the correct cover in place for when the unexpected happens.
Protect your business assets It doesn’t replace other kinds of insurance policies This is an important factor to take into consideration. Many people wrongfully assume that this type of cover overrides and replaces any existing ones that they might have. In actual fact, this kind of cover acts as a “top up” that safeguards you and your assets. This is useful because there could be a few unexpected happenings that occur that you might not be totally covered for. With a policy like this one, all areas of your risk will be theoretically insured, with the particulars of your respective policy applying when you submit a claim.
We can give you peace of mind We understand that running a business is often a stressful and frantic experience. It’s why we strive to make the day-to-day processes a lot easier through our policies that give you less to worry about. If you’re interested in hearing more about our insurance policy that covers accidental damage to your property, please contact us and chat to a broker today: 087 724 9390.

You Need Affordable Home Contents Insurance for Your Home

If you really had to think about it, you’d realise that the contents of your home amount to more than just material assets. It’s a combination of things you have come to take pride in. With your home being made up of possessions that you have worked exceptionally hard to achieve, what would happen if you had to lose them all? This is where home contents cover comes in, and it’s something you can’t afford to ignore.
Home contents cover protects your valued assets As the providers of such cover, we’re taking the time to explain a few more reasons why home contents cover is a must.
It doesn’t always have to break the bank These days; there are a variety of home contents policies available. This allows you to choose the policy that best meets your needs and budget. Whilst this is positive, it also means that many sub-standard home contents insurance policies have emerged. Sadly, this leaves a lot of unsuspecting members of the public out of pocket when they need to claim. As much as you get what you pay for, you should always do your research to find the right balance between price and level of cover. By choosing a reputable company and chatting to experienced brokers, you could save yourself the frustration and the unforeseen expenses of unpaid claims.
If you can, choose comprehensive cover The reality is, you’ll only understand the true importance of home contents insurance when you find yourself in a tricky situation. This policy will compensate you for the replacement value of your household contents covered by the address that is stipulated in your policy schedule. This even extends to garden furniture and outdoor items that are damaged by an event that is insured by your policy.
Important things to remember For starters, always ensure that your policy will pay out the new replacement value of the items you have insured. Also, double check that the entire moveable contents of your home are covered by your schedule. Be sure to include all garage, shed, workshop, or staff quarter contents so that the items found in these areas are not excluded when you need to claim. Your security will also come to impact the monthly premium that you pay, so do ensure that your broker is aware of your current security system that you have in place.
This cover includes the following
A comprehensive policy will pay out for any damage caused by any of the below:
Fire, lightening, storms, wind, rain, hail, snow, water, earthquake, or explosions Overflowing, leaking or bursting of pipes, geysers or heating Sudden impact Theft, attempted theft, and malicious damage caused by a person other than yourself Not satisfied with your current home contents insurance? If your existing policy could be improved, why not give Compendium a call? Our team of experienced brokers can meet with you and discuss your requirements in order to tailor a policy to suit you. If you’re interested in finding out what we could offer you, call us today on 087 724 9390.

Understanding Key Person Insurance

Running a business comes with several different sources of stress. From managing finances to training staff, there are often a few surprises along the way. The loss or incapacitation of employees central to the success of your business is never pleasant. In addition to the emotional strain, there’s a large amount of financial pressure that accompanies incidences like these. It’s why we strongly advise that all business owners consider key person insurance in order to successfully mitigate their risks, with fewer economic consequences.
Key person insurance for important employees For those who aren’t quite sure what this cover offers those who own or run businesses, here’s some more information on this necessary policy.
It falls under assurance In the insurance realm, it’s common to encounter insurance and assurance. Whilst these are both blanket terms for types of cover, they aren’t one in the same. Insurance policies are those that provide financial compensation and cover for unforeseen events like fires, floods, or losses due to theft. Assurance, on the other hand, provides coverage for events that are of high probability or definite in nature, like a dread disease, disability, and death. Key person insurance is an example of an assurance policy, with death or even incapacitation of important employees being a reality for many businesses.
Why it's important Every business has a few employees that it would struggle to function well without. This includes Managing Directors and C.E.Os, who play integral roles in the profitability of the business. With the importance of vital decision makers and role players, comes the risk of their absence through death or incapacitation. With the loss of such important employees, some businesses are forced to find replacements or worse, even close their doors. With a reputable key person insurance policy, you can be compensated for up skilling a suitable replacement, recruiting a new candidate, or in a worst-case scenario, winding up the business.
Minimise your business risks Choose whom you would like to cover With this kind of policy, business owners will need to specify whom they would like to include. For this reason, it is wise to sit down with all business partners and discuss who should be covered by a policy like this one. Following this decision, business owners should contact their dedicated broker to start getting the policy particulars in order.
How does it work? First, this policy will be tailored to suit the needs of your business and its key employees. Should you need to submit a claim, your business will be paid out a lump sum that you can use to act accordingly in the best interests of the company.
Don’t leave your business vulnerable, insure your key persons now In an unpredictable world, it makes sense to minimise your risk as much as possible. With this in mind, your business interests should be no exception. For more on how this kind of policy could help give you peace of mind, please chat to one of our expert brokers today: 087 724 9390

Disability Cover: The Most Underrated Employee Benefit

Those on the market for a new job will know the importance of employee benefits as part of their remuneration package. Whilst many become fixated on leave days, bonuses, and even car allowances, disability cover is far more important.
The right benefits can give you peace of mind At Compendium, we understand just how vital disability cover can prove to be. Those who have it have been able to claim and maintain normal lives long after their accidents have left them impaired. On the flip side of that coin, we’ve also witnessed those who don’t have it struggle as the result of poor planning. Here are a few things to know about it.
Everyone Should Have It One of the most common misconceptions about disability assurance is that it’s only for older people or those who work in risky professions. This is totally false. Whether you’re young, middle-aged or working behind a desk or in a mine, you need a policy that makes provisions for accidents either at work or wherever you are.
Tragedies Happen It should come as no surprise that random incidents can happen at any time. With this in mind, it pays to be prepared. Disability assurance serves to act as a safety net in the wake of such terrible accidents. So whether it happens on the job or even on a holiday with your loved ones, you won’t be left facing an uphill battle. It’s this assistance that helps make life with a disability a lot more bearable.
It Helps You Maintain Your Standard of Living If the unexpected does happen and you’re left with a disability that renders you unable to earn your income, how will you survive? It’s an important question that every person should ask himself or herself. This is especially true if you’ve got dependents to take care of. With disability assurance cover, you’ll be able to live comfortably without financial stress. Payments will be made to you based on the terms and conditions of your policy. Whether you opt for monthly payments, a single lump sum, or a combination of the two, you won’t have to sacrifice your income.
Pay Your Bills Without Worry With any impairment that comes as the result of an injury, medical bills are usually a given. This means that tremendous financial strain is placed on the injured party as well as the family left to take care of them. There is also rent, utility bills, groceries, and even school fees for every household to consider. With the help of a disability policy, you could alleviate these worries simply by making sure you’re covered. This is a small price to pay monthly, when you take into consideration the greater benefits should you ever need to claim.
It Can Be Tailored To Suit Your Lifestyle Much like any other policy offered by Compendium, our team of specialised brokers can alter disability assurance so that it is in line with your needs. Should you need extended cover to accommodate the cost of forced lifestyle changes that can be added to your policy with little hassle.
Peace of Mind Goes A Long Way At Compendium, we understand that the thought of an uncertain future is one that is often the cause of much worry. It’s why our range of comprehensive assurance offerings helps cater to the side effects of unforeseen circumstances that could change your life forever. To make provisions for these, why not contact us today? 087 724 9390.