In the light of experiences newsagents have had and are having with insurance as a result of the floods and some experiences from Victoria following the bushfires two years ago, now is a good time for newsagents to check their insurance coverage.
Ensure that you have coverage for all of the events appropriate to your business. Ensure that your stock value is accurate. Ensure that your fixtures value for replacement is at the level it ought be.
The last thing you want is to find that you do not have enough coverage when you need it.
Loss of Profits for an event is a very important cover and should be for at least 2years as in the case of fire it will take this amount of time to reinstate. In our case the shopping centre was destroyed over 20milllion damage and by the time the landlord had council approvals and the centre rebuilt it was 2.5years
i am in the middle of going through my insurance quotes . the one i have been with for the last 4 years is over a grand more than the other 3 quotes i have received ,for the exact same cover . what made me look around was because of the cyclone cover that i had before blew my mind when i looked at what my new excess was so i thought i would shop around ,if anyone else out there looking at insurance make sure you shop around .