What is an insurance policy?

An insurance policy is a contract between an insured party (a private individual or a business for example) and an insurance company.  The insured is agreeing to pay the insurer a premium in exchange for the insurer bearing the risk of loss on behalf of the insured, for a pre-agreed period of time (usually 12 months). 

The type of loss to be covered varies depending on the insurance policy, but can cover anything from motor vehicle and home damage, to defamation and litigation claims.

For more information on insuring your most precious business assets, contact the knowledgeable and friendly staff at Westralian Insurance.  Call (08) 9302 1388 or visit www.westralianinsurance.com.au today!