Extension/s to the Policy SPECIFIC to your Trade or Industry
Minimum Premium based on small minimum business. As the risk increases in staff and/or turnover the premium will also increase but only by a small portion. The bulk of the cost is in the initial risk itself. If you expect the insurer to cover you against sudden and unforeseen events you must make every effort to inform them of all your activities i.e., If you operate a 2nd business or vary your existing activities you WILL NOT be covered without prior consent. MACHINERY BREAKDOWN (Average Offices $450 Shops $650) (Min Prem $450) Covering above-ground Mechanical or Electrical driven plant against breakdown including sudden and unforeseen events. Some insurers offer replacement and others depreciate due to age. Note that there is no cover against events normally covered under other policies such as Fire and Perils and Burglary as you are expected to activate these covers. FUSION - Restricted form of cover. Only covers the MOTOR (not assoc parts/pipes) resulting from the flow of electrical current. Depreciation applies in all cases. Average Prem half of M/Bkd SPOILAGE (Rate approx 10% of Sum Insured). (Min Prem $200) Sub Section of Machinery Breakdown or fusion policy (ie., can not be purchased separately) Covers chilled foods only as a result of mechanical failure including sudden and unforeseen events. This may include a power failure but not a pre announced denial of services. ELECTRONIC EQUIPMENT (Min Prem $450) This is similar to Machinery Breakdown but for Electronic equipment. The cover is Accidental Loss/Damage Damage, and Burglary. Option for Transit. Breakdown cover may be conditional to a maintenance agreement. GENERAL PROPERTY (Rate see options) (Min Prem $400) This is ideal for a sub-contractor, mobile operator or when equipment is moved around anywhere in the State or Country as required. There are two types of cover available 1. Specified events; Fire & Perils, Damage resulting from collision or overturning of the conveying vehicle or Burglary from a locked vehicle or permanent sited building. (approx rate $35.00 per $1,000) 2. “Multi Risks” all the above plus broader Accidental Damage, excluding electrical breakdown (approx rate $65.00 per $1,000) LEGALEXPENSE (Min Prem $850) To cover the legal expenses of Litigation for Business dealings, options to include Cars and Taxation. MARINE CARGO/GOODS IN TRANSIT To cover goods when being shipped by Road, Rail, Sea or Air. There are several levels of cover to be considered. DISABILITY (Average rates – too many, according to occupation) (Min Prem $550) Replaces income of the insured (usually only 85%) when unable to work due to an Accident or Illness. Cover available for 1. Accident (weekly benefit) for an external Injury, usually paid for 2 years from Disablement. 2. Capital (lump sum) paid at the end of the weekly benefit period if still disabled. The amount paid is proportionate to the severity of the injury. 3. Illness (weekly benefit) for an internal injury, usually paid for 2 years from Disablement. The cover includes Personal Accident (external injury), Personal Illness (internal injury) or Capital (lump sum) benefits. The cover can be 24 hours or restricted to outside working hours as required. The benefit period is usually 104 weeks from disablement. Note: 1. Partial Disablement will result in reduced Indemnity 2. No Medical costs are include so review your Private health Insurance 3. Indemnity provisions are usually restricted to 85% of your PERSONAL taxable Income WORKERS COMPENSATION (Average rates – too many, according to Industry) (Min Prem $400) Compulsory, by law for the employer's STRICT Liability to all workers, as defined (this can include subbies so please clarify with us) for work related activities. If the insured is a "Pty Ltd" Co all WORKING Directors must be named or you can “Opt Out” of cover. If the insured is a sole proprietor/partnership you must name working family members living at home (note in this instance the employer is not covered). INDUSTRIAL SPECIAL RISKS - This is a special policy only available for large sums insured, usually a minimum of $3,000,000 The type of cover is "Material Damage" and items covered are referred to as ASSETS; Property, Contents, Loss of Profits etc., Within the policy the insured may select sub-limits for various benefits such as Accidental Damage, Glass, Money and various other options that would normally be available under a Business Package.
ADDITIONAL INFORMATION AVAILABLE PRODUCT DIRECTORY = 1 Page Listing of All Products SME BASIC CHECKLIST = 1 Page Basic Checklist of covers and costs OCCUPIATION RISK INDEX = 1 Page Checklist of Risks appropriate to your Occupation PRODUCT BROCHURE =multi pages on each Individual Product WWW.CENTRALINS.COM.AU Page 3 of 3