Office Insurance

A good broker can boost the likelihood of a successful claim

One of the ways that an experienced broker delivers greatest value is by helping you to successfully navigate the claims process.

Time and time again, we have been able to show our clients how they qualify for a claim – even in situations where they were not sure they were covered. We have then been able to help them to present the facts to the insurer, which in most cases has resulted in a payout.

Take for example the story of an heirloom ruby ring, owned for decades by a Sydney woman.  Sadly, the woman died in her 60s after a long battle with cancer. Her grief stricken husband placed her engagement, wedding and eternity rings as well as the heirloom ruby ring on a gold chain which he wore around his neck – in an act of defiance at being separated.

Two years passed, during which time he reorganised his affairs including fresh home insurance with a different insurer, using us as his broker. The estate wound its way through probate and the division of tangible assets progressed.  There came a time when it seemed appropriate to hand the ruby ring over to the next generation; their daughter.

The daughter took the ring to be cleaned and appraised by a local jeweller. The jeweller reported that unfortunately the ruby had a crack in it and was now worthless. 

Was this an insurance claim under a home insurance policy? Even our client was sceptical.

The ring was old and in the jeweller’s opinion, the fracture was caused by an impact incident; an incident no one could recall.  More than likely, the unnoticed damage had occurred many years ago.  Why should the insurer for the last two years be responsible?

This is where our in-depth knowledge of the terms of the home insurance policy came to the fore. We were able to explain to our client that the loss occurred at the time the damage was first noticed by the insured. This meant that even though the actual damage had most likely occurred many years before, the loss had arisen during the time of cover with the current insurer.

We helped our client to successfully submit their claim. The result was the insurer settled with a payment for a replacement ruby stone at a cost of $4,100.

A different result may well have been the case if the claim had been presented without assistance. 

An experienced broker has the skills to understand the fine detail of the insurance contract and can help you to present the facts to an insurer in the best possible light. And this is often the difference between the claim being accepted or denied.

Contact us for all types of insurance advice that will give you the best chance of success when it comes to claim time.