Price should not be the most important criteria

There are dangers in buying cheaper policies.

With Insurance policies - you get what you pay for.

Falling premiums, aggressive competition between underwriters and the large number of insurers mean policy prices become cheaper. This is great for our clients but cost savings in the short term may prove costly later.

Ten years ago (March 2001) HIH Insurance collapsed with $5 billion in debts. They had a reputation for being cheap. Many of their policy holders regretted choosing an insurance policy on price alone.

All Companies should analyse the risks their business faces and determine the scope of insurance cover required. As your Insurance Broker, we can help you to do this. While value for money comes into the equation, it shouldn’t do so if it means less protection.

Insurance policies vary from company to company and as your Insurance Broker, we can help you determine how you wish to be covered. It should be remembered however, that in many instances a cheaper premium reflects a narrower scope of cover. As a consequence the premium saving may not represent good value at claim time. For instance, it is not just in the coverage offered but the size of the excesses, the sub-limits applicable and claims service.

Also building a long term relationship with a strong insurer will add value to the Insured’s business. Regularly changing your insurer should not matter in theory, but when negotiating difficult claims, loyalty can be helpful. But maybe your current Insurer has been taken over or re-structured. Perhaps they have lost their high Standard & Poors rating. Perhaps their claims department performed poorly in the recent catastrophic events.

Whatever the reason for making your decision on which Insurer, it should not be just price alone. 

Therefore you need the assistance of a good broker. One who is highly qualified, very experienced and is an expert in his field. Call a good one. Call CPR Insurance Services - Experts who will save you!

Latest News

Three Years running - Insurance Brokerage of the Year 1 to 5 staff

Mandy and Robert Cooper were extremely honoured and astounded to once again win, Insurance Brokerage of the Year for 2020 from Insurance Business Australia magazine. This is the third year running.

While this year has not been the easiest of years for the business with Covid 19, the Recession, the hard market and issues at Lloyds of London, we are literally all in this together as an Insurance Industry.

CPR Insurance Services continues to make our clients the number one focus of our business while managing our relationships with Insurers, who we need more than ever in this market climate.

CPR Insurance Services are a highly ethical Brokerage with a reputation as a trusted advisor who always acts in the Client's best interests. Their experience, knowledge and expertise is amongst the highest in the industry.

CPR Insurance Services is now ten years old as a business and is proud of being an Authorised Representative of Ausure and their partnership with Steadfast, giving CPR the strength and backing to match it with any Broking firm in the Insurance Industry, but remain focussed on supporting the Small to Medium business segment.

Memberships of the National Insurance Brokers Association, Australia and New Zealand Institute of Insurance and Finance, Australian Insurance Law Association, Australian Professional Indemnity Group and the Australian Institute of Company Directors, ensures CPR Insurance Services maintains the high standard of knowledge and expertise required to be one of the best Brokerages in Australia.

CPR Insurance Services also plays a strong role in their local community supporting other Sporting Clubs and Community organisations. They also support and promote local businesses with their operation of the Kedron Brook Business Group who meet regularly and has 174 members.

We are truly honoured to receive this National award once again for the third year as a recognition of CPR Insurance Services contribution.

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Finalist for QLD Broker of the Year

Robert Cooper was honoured to be nominated as a finalist for Queensland Insurance Broker of the year for 2020, as part of the National Insurance Brokers Association. Unfortunately he missed out on the ultimate award but is a reflection of the high standard that the industry now has for such awards.

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