Insurance works by pooling together the resources of a large number of people who have similar risks to make sure that the few people who experience loss are protected.
When we take out an insurance policy, we pay a monthly or annual premium. That money joins the premiums of many thousands of other policyholders and goes into a big pool of funds. With any luck, we will never need to draw on that pool. But if you happen to be one of the unlucky ones affected by an unexpected calamity, perhaps through severe weather or accident, that pool of funds can be used to help you to reduce or cover your loss.
The key role of insurance is to help people financially protect themselves against life’s uncertainties, such as natural disasters, a car accident or an illness while on holidays. We can choose the types of risks we wish to cover by choosing the right kind of policy with the features we need.
General insurance helps us protect ourselves and the things we value, such as our business, our homes, our cars and our valuables, from the financial impact of risks, big and small – from fire, storm and earthquake, to theft, car accidents, travel mishaps – and even from the costs of legal action against us. This may allow you to avoid paying the full cost of replacing, repairing, rebuilding or restoring valuable things. It also means you could avoid ending up with a large debt or liability.
Insurance cannot generate profits. It exists to protect you, your property, and your business.
If your property and business encounters an accident or catastrophe and you have a general insurance policy that covers the property and business for those risks, you can make a claim and draw on that pool of money to help pay for repairs, replacements or rebuilding costs. When you pay an insurance premium, you will have access to the pool of money only if you claim a loss that is covered by your insurance policy.
Each insurer has different rules about what their policy will cover. Exclusions may apply, so you should read your policy carefully. Our responsible and experienced brokers will make sure you fully understand your policy, and will offer unbiased, professional advice.
When we arrange your insurance policy, we rely on you, as the insured person, todisclose all relevant information in utmost good faith, accepting the risk right from the start, and agreeing to notify us if any of your details change.
Our Disclaimer and Terms of Services is displayed below. Please contact us for more information.
Collins Insurance Services / The Trustee for Colin Jong Family Trust (CAR No. 438636｜ABN: 72 823 954 337) Corporate Authorised Representative of Community Broker Network Pty Ltd | AFSL: 233750 | ACN: 096 916 184
Information on this website may not be complete as you may require professional consultation to determine your insurance product and services need • Our role as insurance broker is to provide our services based on our understanding of customers’ insurance need • Our service objective is not solely based on price • Insurance products we recommend may not always fully cover all risks our customers face • The choice of product and services may be influenced by customer’s budget objective • We can provide consultation or written information on common losses insurable but not for all losses possible • We keep customers’ best interests in mind when providing our services • We also treat insurers fairly during insurance negotiations and claims. We believe we put in reasonable effort before placing insurance needed by our customer with insurance company(ies). If customers exercise their right to cancel insurance cover during cooling off period, the insurance company may cancel and fully refund the insurance premium but we reserve our right to retain our broker fee for the effort we put in before placing the insurance cover • Insurance companies remunerate us with commission when we choose to place insurance with them. This commission is refundable to the insurance company when a policy is cancelled before expiry • Our broker fee is charged for the services, skills, knowledge, experience, dedication and after-sales service we put in to a transaction • Customers are free to discontinue our services if they are not agreeable to our terms of services • Agreeing to accept our insurance quotation includes acceptance to our Financial Services Guide and the disclaimer and terms of services listed above.
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