Frequently Asked Questions

Insurance FAQs

There are many questions to ask and to consider when embarking on seeking business insurance, domestic insurance and specialty insurance. We’ve condensed many of the questions we get asked into this page for your benefit.

Frequently Asked Questions

Why use an Insurance broker?

Insurance Brokers work for you, not the Insurer.

An insurance broker can save you time, money and worry. Insurance can be incredibly complicated to fully understand.

An insurance broker can help you understand the details of a policy and also work out the details and types of cover you need so that you are properly protected.

Understanding what insurance you need can be complex and can be devastating if you get it wrong.

A broker will also obtain the best possible claims settlement on your behalf and therefore It pays to have an insurance expert on your side.

How are we remunerated?

We are paid commission for placing a policy via an insurer/underwriting agency and we charge a broker service fee for administering the policy.

Payment Options?
  1. BPAY® – via your financial institution.
  2. CREDIT CARD – via DEFT Online and DEFT Phonepay.
  3. IN PERSON at Australia Post.
  4. BY MAIL to DEFT.
  5. Premium funding – we have third party funding providers that can provide 10/12 monthly payment options.

To ensure you obtain maximum protection from a policy you need to carefully check you have a sum insured that reflects the true and accurate replacement costs of your assets.

Usually the higher the sum insured, the higher the premium and this can be a deterrent for many clients to put forward the actual sum insured when taking out a policy.

Some policies have an Underinsurance Clause which can penalise clients who do not insure for the true amount.

In order to receive a full settlement or replacement of your assets you must insure for full replacement value otherwise you could end up with a disappointing claims settlement.

Do you use unauthorised Australian Insurers?

No. All insurers accessed by Gale Insurance Brokers are regulated by Australian Prudential Regulatory Authority (APRA).  APRA conduct regular asset reviews on the insurer’s ability to meet and pay future insurance claims.

Do I contact the insurers in the event of a claim?

No, it is our role as your insurance broker to be your advocate in the event of a claim to achieve the best possible outcome and in a timely manner.

Home Insurance Explained

Insured Events
Base level cover for Building and Contents within the home with the ability to include limited unspecified personal effects/valuables or specified personal effects/valuables cover

Accidental Damage
Provides all the cover that you receive under the Insured Events policy, however extends to cover accidental damage events by humans i.e Spillage of food/drink on carpets/furniture; children drawing over walls in permanent markers; Wii remotes accidentally releasing from wrist and smashing TV. Additionally, our enhanced Steadfast Accidental Damage Policy Wording will extend to cover personal valuables up to 25% of your unspecified contents sum insured.