Commercial Builder
With inflation hitting a 30 year high, it’s time to re-evaluate your insurance policy to make sure you’re adequately insured. The Australian Institute of Quantity Surveyors (AIQS) earlier this month voiced concerns that homeowners and construction companies could be left underinsured following rising inflation and the increasing cost of materials. If homeowners took out insurance […]
Read MoreAlong with homeowners, strata managers should also be aware of rising inflation and check when their building sum was last updated. If it has been more than 12 months, it’s strongly recommended to obtain a new valuation. Next, strata owners need to look at what level of indexing applies to the sum insured on the […]
Read MoreConstruction businesses also need to be wary of rising costs, and double check they are properly protected from damage or theft. Reinforcement materials alone have climbed from $1,330 a tonne in mid-2020 to $2,400 a tonne in April this year. Most notably, the cost of timber, steel and concrete has climbed significantly. While insurance policies […]
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