Welcome to the February 2013 edition of the ABKJ newsletter. This is a free service provided to clients and business associates of the firm.
In this issue…
- How carefully do you review your insurance policies?
- ABKJ Lawyers – Proud supporters of The Pyjama Foundation’s “The Long Road” Charity Event
How carefully do you review your insurance policies?
As tedious as it may be, it is vitally important to read and understand your insurance policies. Recent events have demonstrated the problems which can arise when a person believes that they have adequate insurance only to find after disaster has struck that they didn’t have the cover that they thought they had.
Some issues to be aware of are:
- Ensure that the sum insured represents the value of the item being insured.
It needs to be clearly understood whether the amount insured is the current value of the item or the replacement value of the item. Its current value may be substantially less than its replacement value.
- Understand what might be excluded from cover under a policy.
For example, there are marine policies in existence which exclude damage resulting from latent defects. If a latent defect such as a faulty part not capable of being detected causes a boat to sink, the insurer may decline the claim.
- Ensure that the policy covers expenses resulting from damage
The cover should include the cost of removing debris, the cost of obtaining any necessary approvals to rebuild and the cost of providing alternate accommodation while the damaged property is unable to be used.
If we can be of any assistance with any queries of this nature, or you have an issue with your current insurance company or policy, please do not hesitate to contact our office.
ABKJ Lawyers – Proud supporters of The Pyjama Foundation’s “The Long Road” Charity Event
The Pyjama Foundation is a children’s charity that is breaking the cycle of disadvantage experienced by Australian children in foster care. The Pyjama Foundation recruits, screens, trains and supports Pyjama Angels – volunteer members of the community who work with the children in care and support their foster families. With over 37,000 children in care in Australia, it is a worthwhile cause that has the support of ABKJ Lawyers.
The Long Road is a non-competitive charity walking event that will be held in 10 locations around the country (in Brisbane, Sydney, Cairns, Townsville, Mackay, Gladstone, Bundaberg, Sunshine Coast, Toowoomba, and the Gold Coast) on Sunday 24 March 2013. The Long Road aims to raise $100,000 for The Pyjama Foundation.
ABKJ Lawyers is proud to be a partner of the Gold Coast event, to be held through the Federation Walk Coastal Reserve, on the Southport Spit.
If you are interested in participating in the event, please contact our office for more information, or visit The Pyjama Foundation website: