Although AAA Financial Intelligence do not act as a Broker or Agent for general insurance the following information may be helpful in selecting an insurer and determining the amount of cover required. In the main General Insurance relates to the protection of domestic and commercial property in the event of fire, burglary, storm damage, or collision and theft in the case of a motor vehicle. The ability of an insurer to settle claims promptly in a fair and equitable manner is paramount and should take precedence over cheap or discounted premiums, after all the insurer must make sufficient margins to pay claims as they arise. Select your Insurance Company carefully giving particular attention to reputation in which they handle claims. A word of warning, "be careful not to under insure". Most insurers these days offer some form of new for old replacement conditions some with an age limitation others without. Invariably all can and will apply a co-insurance clause if you have under insured by more than 20% of the replacement value. A Co-insurance or Averaging Clause simply means that you are acting as your own insurer for part of the claim. If you have under insured the insurance company may reduce the claim proceeds by a ratio equivalent to the amount you were under insured. This can lead to a disappointing outcome, so always try to make sure that your cover is in line with the value of your property. For an introduction to a registered General Insurance Broker contact NIBA the National Insurance Brokers Association or log on to www.niba.com.au, or telephone us on (08) 8382 4288 for names and addresses giving your contact details together with your email address (if applicable). AAA Financial Intelligence will then contact the General Insurance Broker on your behalf.   Copyright © 2000 - 2004 Forsyte Consulting Pty Ltd. All rights reserved unless otherwise stated.