Newsletter October/December 2008
Newsletter October/December 2008
CROP FINAL REVISION DATE 13th Oct
Crop customers, don't forget to get your revised crop yields and values to us by the revision cut-off date of 13th October 2008 (Parkes and Lachlan Shires).
At the time of writing we were getting some helpful rain. I hope it was widespread so that we can all look forward to a reasonable harvest!
GOLF DAY
Our next annual AgNVet versus Goodwin Stevenson Insurance golf day will be held on Saturday 11th October. This is a fun day for golfers and non-golfers alike. Just show up on the day, or arrange a partner for the 2 person ambrose. I'm told that it's ok to play only 9 holes if, like me, 18 seems too far for you!
This will be run concurrently with the Trundle v's Bogan Gate comp. 12 pm start.
WORKERS COMP CHANGES
As of 30th June this year, anyone paying less than $7,500 per year in wages will not be required to hold a Worker's Compensation policy (except if engaging an apprentice or trainee)
If you fall within this category, your employees are still covered, and you will still need to immediately report any incident or claim to Workcover on 13 10 50.
In the event of a claim, you will pay an admin fee at the time (Currently $175)
BUSINESS POLICIES
I would urge all business owners to check the sum insured of your building. You need to insure it for the replacement cost to restore it to the size and materials that it is constructed of now.
If you under-insure your business building, you may find that you will be responsible for the shortfall in the event of a claim. For example, if you are under-insured by half, you may only be paid for a portion of your sum insured if you have a claim. Under-insurance does not apply to domestic or farm buildings.
HOME & CONTENTS LIABILITY
Did you know that when you hold a Home and/or Contents policy, you also have legal liability cover.
CGU and Allianz both automatically cover you for up to $20million. (With exclusions, of course) When you insure your building, you are covered for your liability as the building owner. For example, if during a storm a sheet of iron blew off your roof and damaged next door's car.
When you insure your contents, you are covered for your personal liability to others.
For example, if you discard a cigarette which goes on to burn down someone else's house, or accidentally strike someone with the ball during a hit of golf.
CGU also covers for liability claims up to $10,000 made to volunteer committee members of a sporting or social club.
Therefore, even if you only have a few thousand dollars worth of contents to insure, it is well worth doing so for the personal liability cover it provides for you.
Cheers for now – best wishes for harvest…
Important: This is not advice. All information contained in this newsletter is made in good faith and is believed to be correct at the time of preparation. Items herein are general comments only and do not constitute or convey specific advice. Clients should consider their own circumstances when reading this newsletter.
