For assistance with any insurance policy, please call ARM Insurance on 07 3278 2339 or email us at info@arminsurance.com.au
Use the calculator on this page to calculate the risk in under insuring, but first read why it’s important to get the level of your insurance right.
Many people incorrectly believe that if they under insure, the only penalty will be if the claim exceeds the sum insured. This is not correct.
Insurance premiums are based on the assumption that the assets – or in the case of business interruption, the insurable gross profit – are insured for their full value at the inception date of the policy.
If the assets or insurable gross profit are not insured for their full value, a business insurance policy will typically treat the policy holder as being a co-insurer for all claims over 5% or 10% of the declared value.
Many insurance policies allow a percentage of tolerance in getting it right. This is typically 15% (85% co-insurance) or 20% (80% co-insurance).
The following calculation is designed to highlight the penalty that will be imposed should the sum insured or declared value be under the true value at risk at the start date of the policy.
Ask us anything about insurance, we'd love to help.
Ph: 07 3278 2339
We’re a proud sponsor of Miraa House
Complaints | Privacy
Disclaimer : The information provided by ARM Insurance on this website is for general information purposes only, and it is not a substitute for professional advice. You should always consider the PDS/Policy wording before making a decision. Coverage may differ based on specific clauses in individual policies. Refer to the FSG on our website or by requesting a copy for our services and remuneration details.
Vanjil Ptd Ltd T/As ARM Insurance
ABN: 11 100 154 603 I Corporate Authorised Representative No. 266693
Suite 1, 250 Sherwood Road, Rocklea Qld 4106
PO Box 1279 Oxley, QLD, 4075
Corporate Authorised Representative of Aviso EIA Pty Ltd T/a Aviso EIA Insurance Brokers
ACN: 097 567 710 | ABN: 37 097 567 710 | AFS Licence Number: 239049
ARM Insurance endorses the Insurance Brokers Code of Practice. To obtain a copy of the code, click here.
Website Design & Hosting by: Mobile First Site Design