Insurance Premium Sunshine Coast
What exactly is an insurance premium? In a nutshell, it is the sum of money paid to an insurance company for an insurance policy, so that the insurer provides coverage for claims against that policy. The price of the premium depends on multiple factors, which range from the type of insurance coverage and the likelihood of a claim to where the policyholder lives or works, and the competition the insurer faces.
Inevitably, the higher the risk, the greater the cost of the insurance policy
Some insurers encourage the policyholder to pay their premium in monthly or semi-annual installments, and some demand the total sum up front before coverage can start. When the policy ends, the insurer may raise the premium if their costs have increased or claims have been made, as the premium covers the policies’ liabilities.
Your insurance broker
An insurance broker is the professional middleman, the expert who will shop around for the very best deal for you — that is, the most comprehensive coverage at a realistic price. The broker specializes in insurance and risk management, and may also act as the agent for an insurance company. An actuary compiles and analyses statistics to calculate insurance risks and premiums. Dealing with one broker for all your policies, from wage insurance to life insurance, makes life far simpler.
David and Ben Woolgrove
Obviously there is a great deal of competition in the insurance trade. David Woolgrove set up InsuranceWorks on the Sunshine Coast over 25 years ago, and he knows what it’s like to provide financial freedom to people when they’re going through what’s often the most challenging time of their life. Ben Woolgrove joined him in 2005 and concentrates on high risk and medical specialists. It’s a family business.
In the end you get what you pay for
When it comes to insurance cover, the Woolgroves say that there is no easy answer to the most common question “How much?” But they can help you can set a budget and work out what you really need to be insured against, and what you can do without. InsuranceWorks strive to make understanding your insurance easier — and are always prepared to offer an obligation-free audit of your insurance and superannuation and help you through the process.
So let’s see if we can help
Why don’t you call InsuranceWorks today to arrange a time that suits you? We believe you should feel good about planning for the people you love.