We can take care of the process by working closely with you and the insurance company and any third-party valuers, repairers, or specialists to help you get the best possible outcome. And we can keep you informed every step of the way.

 

Expert Advice

  • Our advice doesn’t stop once we’ve arranged your insurance policy.
  • We can give you advice throughout the claims process and can advocate on your behalf with insurance companies, for no extra charge.
  • This frees you up to focus on running your business – while we work to get your claim sorted as quickly and as favourably as possible.

Faster Claims

  • With Steadfast insurance broker, you’ve got an expert you can trust on your team, who can manage the claims process on your behalf, allowing you to focus on what really matters.
  • We follow your claim from start to finish, we don’t just lodge and forget.
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Better Outcomes

  • We understand how important it is for you to have a positive claims outcome.
  • As a Steadfast insurance broker, we leverage the support of the network so that you’ve got the added benefit of a large organisation who can help if an issue arises. We can support you to manage your claim and champion it at the highest level with insurers if there happens to be an issue.
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With a Steadfast Insurance Broker, you have an expert on your team. Contact Us Today.

The major reason why small businesses in Australia fail is inadequate cash flow. That’s where having the right level of insurance can make all the difference by helping to ensure your business continues to operate smoothly if the unexpected happens.

The risk of underinsurance

Unfortunately, 1 in 10 Australian small businesses with insurance don’t have enough cover to protect themselves against business disruption, legal liabilities or loss or damage to their assets.

This is referred to as “underinsurance’ and it can greatly increase the risk of a business having to close down if something goes wrong. So why are so many businesses underinsured?

Some business owners are driven by low premiums and don’t take the time to make sure they are adequately protected after an insurable event. As a result, the sum insured may not be enough to cover losses – or the terms of their policy may limit the amount that can be recovered.

It’s also common for business owners to underestimate either the reinstatement or replacement costs of their business assets after a damaging event such as a fire or storm. If the sum insured doesn’t reflect an up to date reinstatement or replacement cost, the owners will be underinsured and may face substantial out-of-the-pocket expenses if they need to make a claim.

 

The difference insurance can make

Scenario 1

  • Type of cover: Business Interruption
  • Scenario: A dental clinic is severely damaged with part of the ceiling caves in during a major storm. The business is forced to close for two months of repairs.
  • With Insurance: The owner’s business interruption insurance can cover the amount of lost income while the business is closed.
  • Without insurance: The business loses two months of revenue and struggles for weeks afterwards to generate enough profit to make up for the lost income.

Scenario 2

  • Type of cover: Professional Indemnity
  • Scenario: An architecture firm provides a flawed design, and the building then needs to be demolished and rebuilt from scratch. The client sues the architect for these costs.
  • With Insurance: The firm has Professional Indemnity insurance which can cover this amount, plus most legal costs.
  • Without insurance: The form can’t afford to cover the costs and is forced to go into liquidation.

How do you know if you are underinsured?

You are at risk of being underinsured of:

  • You haven’t updated your insurance cover to reflect the growth of your business.
  • Your insurance is based on an outdated replacement cost of your business assets.
  • You are covered for damage to your business premises but have not considered other forms of financial loss such as business interruption and management liability.

How can we help?

When you’re running a business, sorting out your insurance cover often drops to the bottom of your never-ending to-do list. That’s where we can help. We do the hard work of reviewing your insurance strategy, adapting your cover as your business changes, and giving you peace of mind that your business is properly insured.

 

Contact Us Today
With a Steadfast Insurance Broker, you have an expert on your team. Contact Us Today.

With so many options on the market, and with emerging risks such as Cyber, and new products coming available all the time, it can be hard to be confident you’re making the right choice. That’s where we can help.

 

Save time with NADIC Insurance Brokers

Save Time

  • With Streadfast’s innovative tools, we can quickly compare and assess different insurance products – taking the hard work out of finding the right cover.
  • We can take the time to understand your business and tailor a policy to match – so don’t need to spend time researching insurance options yourself.
  • Policy wordings can be complex and making sure you have the right one for your business needs can be confusing. With the expertise of a Steadfast insurance broker on your team, you can be sure you are getting the best available.
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Save Money

  • As part of the Steadfast network, we can often negotiate lower prices for our clients – so you can get the right cover at the right price.
  • We can provide expert advice to help your business withstand cyclical premium increases, helping keep your cover cost-effective.
  • Our claims and policy management processes help to minimise price rises over the file of your policy.

 

Why Use a Broker? | NADIC

Stress Less

  • We can take time to understand the unique risks for your business and ensure they’re covered – so you can be confident you’re protected.
  • You’ll be supported by the strength of Steadfast, which manages more than 2.3 million policies for small to medium businesses.
  • If you need to claim, we can champion your cause with insurers every step of the way – helping assure the best outcome for your business.

How we can help

We can take the hard work out of getting the most suitable cover – at a competitive price. As part of Steadfast, Australia’s largest general insurance broker network, we have access to policies from national and international insurers – so we can help find the right one for you.

We’re experts in helping you:

  1. Assess and manage the unique risks your business faces.
  2. Understand your insurance options, based on your needs and budget.
  3. Tailor an insurance package especially for your business – and explaining all the details to you clearly.
  4. Apply for and renew insurance policies each year.
  5. Settle any claims that you may have – and advocating on your behalf to help achieve the best possible outcome.

 

Contact Us Today
With a Steadfast Insurance Broker, you have an expert on your team. Contact Us Today.