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...
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...
How A Guarantee Can Help You Win Clients In Uncertain Times + Other Ideas To Help Your Business In the last month more than 250 builders have enquired about becoming accredited for our independent 10 Year Guarantee. This is on top of the more than 100 who applied in...
The importance of extending your contract works insurance A recent contract works insurance claim was declined because the damage happened after the end date on the policy. The cover had already been extended twice, but with only a few bits left to do the builder had...
According to construction insurer MECON, 45% of building failures are a result of design issues. Without professional indemnity (PI) cover builders run the serious risk of being uninsured when they are dragged into litigation over defective design. Typically, an owner...
