WELCOME TO JIM’S INSURANCE – INSURANCE BROKERS
Jim’s Insurance is the only specialist and approved insurance provider for the Jim’s Group Franchisees. The brokerage was established by Jim Penman due to lack of service his franchisees were receiving from external insurance providers. The team has over three decades of specialist insurance broking expertise. We deliver quality insurance products and risk management advice with excellent service across a broad spectrum of professions and industries.
We strive to provide the best advice possible for the many different customers we come across. Our number one focus is not only the best price possible but also honest advice.
Please feel free to contact us to discuss your insurance needs.
ABN 25 145 508 283
AFS Licence Number 385212
Building Construction insurance
It is exciting to be in a newly constructed or renovated building. But it’s not easy and simple as it saying. It begins with finding a best suitable land, with number of site preparations, designing of the building, finding of the best bid for the construction, completion of services and many more. As the process are much more time and money consuming than thought, it is mandatory to have a suitable construction insurance policy for the work out as well. Also the construction work can be affected by various risk factors, so the selection of well-designed and every aspect covered construction insurance is critical.
When any construction work goes on, there are insurable interests in materials, equipments or resources. Insuring such parties from being damaging the structure and the process of construction is called comprehensive insurance. Our insurance provides coverage for natural and man made disasters, cover for materials, hazards such as fire, electrical shortage, cover for workers or employees, etc. simply, the things available in a construction site that are vulnerable or at risk, Our insurance covers them all. It is simply a method of risk transferring at construction site, so each and every construction project should check with such insurance policy.
The range of Commercial policies
covers the following aspects basically:
• Look after every kind of property damage at construction site and possible financial losses.
Building construction insurance
• If the construction work cannot meet deadlines due to delays in supply chain, possible profit loss will be covered.
Stock covered• If the stock of raw materials get deteriorated or damages to the machinery and equipment that are essential for the construction work process, the losses will be covered by the policy too.
Policy documents The type of new insurance policy varies with the type of construction and end product. But there’s a general process common to all. Anything under the construction agreement should be included into the insurance policy. If any additions are made in the process, those types should be included into the insurance scheme immediately. In certain cases, these types of extra additional construction works might not be allowed by the insurance policy document. Therefore, it is very important to plan properly before start of the construction work and legal aspects have to be defined well before judgement.
Jim’s building construction insurance
For Investors Construction projects are very fragile and it can go wrong anytime with single mistake. Especially for investors new insurance policy is so important due to the risk involvement in monetary terms is so high during any collapse. There are soft costs involving in any construction failures such as loan interests to banks, attorney fees, court case charges if any other neighbouring properties involved, etc. Every new insurance policy does not cover all the aspects like soft costs. Therefore, it is important to consider every unforseen aspect of construction site before obtaining the construction insurance. Also it is recommended to look for the history of the site and types of elements at risk in the surrounding environment if any construction failure occurs. Availability of these types of soft costs coverage in the construction insurance policy document is important to read before proceeds.
Some exclusionsAs usual, every construction insurance policy has its own exclusions. Some of the aspects are provided by the company with added premium. It is useful to see the cost of extra premium and types of exclusions by the selected construction insurance policy before signing of agreement. Some of the exclusions common here are thefts by own workers and employees, damages caused by earth movement, breakdown due to poor maintenance or any losses that cannot be proved with evidence of cause.
Damage loss The language used in the construction insurance agreement is critical, though most are neglecting this. The language is complex and more legal oriented in the document so some clauses may not be 100% understandable by general person. It is OK to sign without considering the complexity, but the issue can arise when it goes in to the claiming of damage loss. There might be aspects which are not agreed by simply a word or two by insurance company which insurer may not be aware of. It is far too late to fight in a claim process or in a court case. Therefore it is mandatory to read carefully the agreement and understand the cause of actions in which the claims can be accepted.
Attractive packages So it is evident that every construction needs construction insurance policy to avoid unforseen challenges faced by construction work both natural and man-made causes. As the construction industry is a boom in the world, the types of construction insurances come in different modes and with attractive packages. Whatever the offering is, it might be useful if the appropriate insurance has been selected by any individual after consulting a professional in the field.
“Recently, we had to renew our business insurance policies”. My wife required Public Liability and Medical Malpractice, Whilst I required Public Liability and Professional Indemnity Insurance. On both occasions we contacted jadran Sango from Jim’s Insurance.
I could not believe the service we received!
Jadran looked after us personally, gave us excellent service and the advice was prompt in all of our dealings.
We have taken out all of the policies through Jim’s Insurance.
The pricing was comparable, the service was second to none and the folow up from Jadran was excelent.
I highly commend and recommend Jim’s Insurance to franchises for Business Insurance needs.
Well done jadran!”
JIM”S TEST AND TAG
“Thank you very much for helping me to organize my personal injury insurance and equipment insurance this year. I have found the process to be very simple this year and you have been nothing but professional and attentive to my requests – so thanks again. I’ve also found the premiums to be very competitive which is comforting to know”