Market value is generally defined as the reasonable sale price of the same or a comparable vehicle immediately before the loss, excluding GST and any signwriting, wraps or artwork, but including the value of accessories*. This value needs to take into account the...
Claim 1 – Landscaper A contractor was doing some landscaping work at a client’s property when they accidentally put a shovel through a buried telephone cable. Chorus made the repairs and sent the contractor a bill of $3,000. The landscaper made a claim...
There are always two sides to every story. It’s no different when it comes to payment schedules in a building contract. Customers (and their lenders) generally prefer to pay for work after it has been supplied. On the other hand, many builders would like to get...
While the precise impact of a recession on our construction sector is unknown it will no doubt affect many small businesses as less work is pushed through the pipeline. For savvy business owners there are options to help both reduce risk to their own profitability and...
This is a question some of you will be asking during these uncertain times. It’s a fair question as people look to reduce costs in anticipation of an economic slowdown. In General The value of insurance is that you pay a predictable, regular amount (the premium) to...
