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A Guide To Understanding Endorsements, Exclusions, and Extensions in Your Business Insurance Policy.

Navigating your business insurance policy as an Australian business can be difficult. When you need your business insurance most, you probably won’t have time to break down the definitions that make up your insurance policy. There are terms like ‘endorsements’, ‘exclusions’ and ‘extensions’ you may notice in your agreement and wonder what they mean. The truth is, insurance policies don’t look the same for everyone, so it’s important to understand what it looks like for you.

At Morgan Insurance, we want you to navigate your insurance policy and claims with confidence. That’s why we’ve broken down the terms you need to understand in this blog, so you’re not in the dark about the terms and conditions of your policy. 

Recap: What Is A Business Insurance Policy?

Business insurance protects your company from any financial losses that may be incurred as a result of unexpected circumstances. This includes property damage, legal action, employee injuries, theft and business operation interruption. It allows you to recover financially and maintain your operations whilst you manage the disruptions caused. 

However, business insurance is typically a standard package that covers the basics. You can personalise your cover to your business and its needs. This is where the 3 E’s come into play (exclusions, endorsements and extensions). 

Exclusions:

Exclusions refer to what your policy does not cover you for. These will be outlined in your insurance policy, and you must understand them clearly so that if you need to make a claim, you are not surprised by what you’re liable for individually. Some common exclusions that apply to most business insurance policies include: 

• Acts of War
• Asbestos
• Prior incidents or damages

Endorsements:

Endorsements are the special adjustments you can make to your policy to cover the gaps caused by your exclusions. For instance, if your business is more at risk of flooding due to its location, you can add a ‘Flood Cover Endorsement’ at an additional premium to ensure that you’re covered. This is where the collaboration of a broker is particularly useful, as they can identify any gaps in your cover that may leave you vulnerable, and negotiate endorsements that protect your business.

Extensions:

This refers to extras in your cover that are pre-existing and come at no extra cost to you, but you may not be aware of them. So, your protection is made more robust with these extensions. For example, an extension might cover your legal costs for attending court where legal action has been taken, as well as covering the claim amount.

How A Broker Like Morgan Insurance Can Help You

As experts, Morgan Insurance can help you navigate the ins and outs of your business insurance policy to ensure that you’re prepared and protected for the worst. We’re your partner throughout the entire process. From when we meet with you to understand your business’s unique risks, right through to when you need to make a claim. So, what can we do for you?

• We understand the industry and market better than anyone, so we can secure you a policy that is tailored to your business’s objectives.
• We’ll negotiate the best terms and conditions for your insurance policy that work in your best interest. 
• We’ll identify any gaps or risks in your current insurance.
• You’ll receive professional advice on how to stay prepared and ensure your business is protected if you need to make a claim. 
• We’ll manage the entire process for you, so it’s one less thing that you need to worry about. We let you focus on your business.

Get Ahead Of The Game

Understanding your business insurance policy doesn’t have to be complicated when you have Morgan Insurance by your side. The truth is, if you need to claim on your policy, the last thing you need is to be breaking down what it all means. We know you need to focus on getting your business back on track, so that’s exactly what we’ll let you do. 

We’ll act like a business partner, supporting you from start to finish. It’s never been easier when you trust the experts. 

Get started by reaching out to our team

by Mojo Dojo

The Dangers of Underinsurance for Commercial Properties and How to Avoid It

Insurance for commercial property owners is crucial as it protects your investment from legal liability and any loss of income you may experience. With that being said, the dangers of underinsurance when it comes to your commercial property can leave you with protection gaps, which can leave you financially liable when you least expect it. 

In the event of a catastrophe, like a fire or a storm, your commercial property can be severely affected. You don’t want to wait until you need to file a claim to realise that you’re not covered for the damage. So, what does underinsuring mean, and how can you avoid it as a landlord?

What Is Underinsurance?

Underinsurance refers to when your insurance policy insures you for less than the cost to repair your property. So, in the event of a claim, your insurance payout may not cover the damages and reconstruction required, meaning you need to pay it out of pocket. 

How Does It Happen?

Underinsurance can happen for a number of reasons. The truth is, understanding your commercial property insurance can be difficult when there are so many terms and details to consider. That’s why we recommend using a broker like Morgan Insurance to help you navigate your insurance and ensure you’re protected. Some of the reasons your policy may leave you underinsured include: 

• Building Cost Inflation: Building costs include labour and material costs, which may have risen significantly since you obtained your policy.
• Ignored Soft Costs: Soft costs are costs that can be incurred outside of construction. They include architectural fees, council approval fees, debris removal and loss of rent. 

• Renovations: If your property has been renovated or upgraded since the last valuation, your insurance won’t be adjusted accordingly.
• Premium Savings: To lower premiums when you obtain your insurance policy, you may have claimed a lower amount, which leaves you unprotected in the long term.

How Is It Dangerous?

The obvious answer is that, as you are underinsured for the total amount you’ll need to get back on your feet, you’ll be left paying for it alone. However, it’s a little more complicated than at first glance. A common misconception is that if you’re underinsured by 50%, then your insurer will only pay the other 50%. This is not the case. 

Actually, your insurer will only pay for the proportion of the loss that you’re underinsured for. 

Here’s an example: 

Avoiding Underinsurance: What To Do

To avoid underinsurance with your insurance policy and ensure that you’re appropriately covered when you most need it, there are a couple of things that you can do. 

• Regular Valuation: Your property is due to change year in, year out, so the best way to stay updated with the true cost of replacing it is by having it regularly valued.
• Review Your Policy: Understand your policy thoroughly with regular reviews to ensure that any cost inflation is accounted for.

• Factor In ALL Costs: Ensure that the sum you’re insured for factors in all your costs (including professional fees, removal costs and a contingency buffer to be safe). 

The Best Thing To Do:

The best thing you can do is contact an insurance broker who can navigate the details of your policy for you to ensure that you’re fully protected in the event of an emergency. Morgan Insurance Brokers are experts in navigating the market and finding an insurance policy that makes sense for your investment. 

It’s normal to be overwhelmed when you’re trying to understand the terms and conditions yourself. That’s what we’re here for. You don’t want to be confused when it’s crunch time. Contact our team today for expert guidance on your commercial property insurance.

Morgan Insurance As Your Partner

We’ll do more than find you a policy that protects you- we’ll review it, negotiate competitive terms and ensure you’re up to speed on what that means for you. When the worst happens, you’ll have enough on your plate without having to worry about your insurance too. We’ll handle it for you. 

Get started with Morgan Insurance today and get in touch.

by Mojo Dojo

The Underwriting Process for Income Protection and Life Insurance Explained

Most people don’t think about underwriting until they’re knee-deep in an application and suddenly an insurer wants medical records, a blood test, or details about a back injury from years ago. It can feel intrusive, slow, and unnecessarily complicated. However, underwriting is simply the way insurers work out your level of risk so they can offer you the right cover at the right price.

If you understand how the process works, you’ll find the whole experience a lot smoother. Here’s what happens behind the scenes, and how Morgan Insurance Brokers helps you navigate it.

What is Underwriting?

Underwriting is the assessment process insurers use to decide three things:

1. Can they offer you cover?
2. How much will it cost?
3. Do they need any exclusions or special conditions?

Think of it this way: insurers are taking on the financial risk of your future. They need to know enough about your health, job, and lifestyle to judge how likely you are to claim. It’s all about pricing the risk fairly and making sure the policy will hold up when you need it most. 

Underwriting for Life Insurance vs Income Protection

While the basic idea is the same, the focus shifts depending on the type of cover.

Life Insurance

Life insurers are looking at any factors that could affect life expectancy or the likelihood of a major illness developing. That includes medical history, family history, lifestyle habits, and sometimes your occupation.

Income Protection

With income protection, the insurer’s priority is whether an injury or illness could stop you from working. So your job duties and income history matter more. They also look closely at past injuries or chronic conditions that could flare up and keep you out of work. 

The Underwriting Process Step-by-Step

Think of underwriting as a series of checkpoints. Here’s what happens the moment you submit your application. 

Step 1: Application Submission

You start by choosing the type of cover and the amount you want. Our team at Morgan Insurance Brokers helps shape that early on. This means you’re not applying for unnecessary amounts. Once the application is submitted, the insurer opens a case. That’s when the underwriting begins.

Step 2: Personal Statement/Questionnaire

This is where you answer questions about your:

• Health 
• Lifestyle 
• Occupation 
• Income

It’s important to answer honestly and thoroughly. People worry that disclosing too much will hurt their application, but failing to disclose something is what causes issues later. A clean, complete statement gets better results every time.

Step 3: Additional Information/Medical Assessments

If the underwriter needs more detail, they’ll ask for it. This might include:

• GP reports
• Specialist letters
• Blood tests
• Imaging results
• Income verification
• Clarification on job duties

This step is normal and doesn’t mean your application is in trouble. It just means the insurer wants accuracy before they commit.

Step 4: Assessment by Underwriter

The underwriter reviews everything collected. They weigh up the risks and compare your profile to the insurer’s guidelines. Based on that, they make a decision.

There are four typical outcomes:

1. Standard terms, which means full cover at standard rates.
2. Loading involves a higher premium because the risk is higher.
3. Exclusion in which certain conditions are not covered.
4. Decline; this is rare, and usually only when risks are very high or uninsurable.

If there’s anything unexpected, we negotiate with the insurer or approach another one better suited to your profile. No two insurers underwrite the same way — which is exactly why having a broker matters.

Step 5: Outcome & Policy Issuance

Once underwriting is complete, you receive your final terms. If you’re happy with them, the policy is issued. Cover starts as soon as the policy is active. Waiting periods and benefit periods apply for income protection, but life insurance generally begins immediately.

Why Choose Morgan Insurance Brokers for Life & Income Protection Cover

Underwriting is a detailed process. Having someone who knows the system, knows the insurers, and knows how to present your case properly makes a huge difference. 

At Morgan Insurance Brokers, we handle the entire process. We help you: 

• Select the right insurer based on your occupation, health, and needs
• Manage all underwriting communication
• Clarify medical requests, so you know exactly what’s required
• Negotiate loadings or exclusions where possible
• Ensure you understand the policy before you accept it

If you are uncertain whether your current insurance offers comprehensive coverage, or if you are beginning to evaluate your options, we encourage you to contact us today. 

At Morgan Insurance Brokers, we strive to get you covered appropriately with terms that hold up when life doesn’t go to plan. 

by Mojo Dojo

The Ultimate Guide to Tradies' Tool Insurance: Valuation, Security, and Claims

The business of insurance is a little different when it comes to tradies. There’s a whole world of risks to consider, including workplace injuries, equipment damage and liability claims. In the trades (plumbers, electricians, plumbers and carpenters), their tools aren’t just equipment, but they are the business itself. Without their equipment or the proper equipment, they can’t do their job. 

So it’s no surprise that tradies insure their tools and equipment. This helps to protect their financial stability, workflow and reputation. However, there are some key considerations when it comes to tool insurance. At Morgan Insurance, we value the importance of understanding your insurance policy and ensuring that you’re equipped with the knowledge to navigate your claims with confidence. 

So, here’s our guide to a tradie's tool insurance: 

Valuation: The Foundation

Let’s take it back to the basics. It’s common for tradies to be underinsured due to their foundations. Valuation ensures that your tools' worth and costs are appropriately accounted for, so if you need to make a claim, you get exactly what you’re missing. Some things to consider are:

• Market Value: Stay updated with your tool’s value, as it can increase or decrease in value and leave you with a gap in your insurance. 
• Replacement Costs: Consider how much it would cost to replace your tool entirely to effectively prepare for the worst. 
• Item List: It can seem tedious, but it is important to list all your items and tools of high value to ensure that you’re fully covered. This can include tools such as laser levels and diagnostic equipment. 
• Documentation: Evidence is important. Keep receipts, photos and other documents that prove the contents of your toolkit. 

Security: Conditions and More

Insurance claims can be rejected due to beliefs of negligence, where damage or stolen property can be due to a lack of security on the owner’s behalf. To avoid this, you should take precautions to ensure that security is maintained. The conditions of your insurance policy will impact your claims success, like: 

• Understand Your Policy Requirements: Your policy will likely detail that your tools must be stored in a locked vehicle or building. This way, if they are damaged or stolen, this will not be through any negligence on your behalf. There may also be specific requirements for storing tools overnight, so it is important to understand your policy thoroughly. 
• Cover Gaps: Common tool insurance exclusions include wear and tear and disappearance, where there is no evidence of theft, broken entry, etc.

So, take your own measures to ensure that your policy works for you and not against you. For instance, secure your vehicle with alarms, keyed storage boxes and avoid leaving your tools in visible areas. 

Claims: Step-by-Step

When the worst happens, and you need to make a claim, you’ll want to make sure you do everything right. With an insurance broker like Morgan Insurance by your side, you can ensure that everything is taken care of. But following these steps will ensure a smoother process: 

• Act: If any damage or theft occurs, take any photos as evidence and immediately call the police.

• Claim: Contact your broker to submit your claim. They’ll ask for any necessary and supporting documentation that you can provide (i.e. photos, receipts, etc).
• Excess: Your insurance policy should detail what your excess is (i.e. how much you’re liable to pay upfront before your insurance covers the rest). Understanding this is important as it ensures there are no surprises when you’re filing a claim.

It’s normal to miss steps and overlook certain details. That's why we recommend using a broker like us to help you navigate your claim process and ensure you get the outcome you deserve, every time. 

Navigate Your Tool Insurance With Morgan Insurance

We’re insurance experts, so when you trust us to navigate your policy and claim for you, you can sit back and relax. The truth is, most of us barely have time to read through the conditions of our insurance policy, let alone navigate the claim process ourselves. That’s what we’re here for. 

You don’t want to risk missing vital information and conditions, as this can leave you vulnerable when it’s crunch time. Protect your tools and your business with tool insurance. Morgan Insurance can help you get started. Contact our team today. 

by Mojo Dojo

Key Person Insurance: How to Protect Your Business from Losing a Vital Employee

The sum of a company’s success is its people. Specifically, the people you can’t afford to lose. One day, a key employee, maybe a team leader, project manager, or business partner, leaves, falls sick, or passes away unexpectedly. Suddenly, the work grinds to a halt. The whole operation starts to feel fragile. That’s where Key Person Insurance comes in.

What is Key Person Insurance?

At its heart, Key Person Insurance is about protecting your business if you lose someone you simply can’t replace overnight. It’s not like personal life insurance, which is set up to support a family. This cover is taken out by the business itself, on a key employee whose knowledge, contacts, or experience keeps things running smoothly. The business pays the premiums, and if something serious happens, the financial support goes back into the company.

Think of it as breathing room when you need it most. It gives you the funds to steady the ship, bring in a replacement, and deal with any commitments that suddenly become harder to manage. Instead of scrambling to survive, you get time to regroup and make clear decisions under pressure.

Why Businesses (Especially SMEs) Need Key Person Insurance

If you run a small to medium enterprise (SME), the impact of losing a single person can be catastrophic. Large corporations often have departments, backups, and layered talent. SMEs? Not so much. Losing a top salesperson, a lead technician, or a founder can hit your bottom line hard. Here’s why it matters:

• Revenue dependency: Some businesses rely heavily on one person to bring in clients or close deals. Lose that person, and your pipeline dries up.
• Operational disruption: Certain employees hold specialised knowledge, like construction methods, regulatory know-how, or supplier contacts. If they’re gone, projects stall.
• Investor reassurance: Investors want to know the business isn’t entirely tied to a single individual. Key Person Insurance gives them that confidence.
• Loan approvals: Banks and lenders sometimes require key-person coverage before approving business loans, especially if a particular person is integral to repayment plans.

The bottom line? Key Person Insurance is all about guaranteeing stability and peace of mind. 

How Key Person Insurance Actually Works (in Practice)

The business identifies a “key person”, someone whose absence would materially impact profits. The company buys a policy on that individual, paying the premiums. The payout is structured in various ways, depending on the policy and needs:

• Lump sum payout: For covering immediate financial shocks, such as lost revenue, hiring temporary staff, or paying off urgent debts.
• Income replacement: Some policies provide regular payments to offset lost profit until the business gets back on its feet.
• Recruitment and training: Finding and training a replacement can be costly. Insurance proceeds can cover those costs.

It’s not complicated, but it is precise. You need to calculate the real financial impact of losing that person. Think revenue, client relationships, and the time and cost of recruitment. A poorly valued policy isn’t much help when the pressure’s on.

Is Key Person Insurance Tax Deductible? 

Generally, no. Premiums for Key Person Insurance are not tax-deductible as a business expense if the business is the beneficiary. 

If the policy is structured to provide employee benefits, such as a supplemental death benefit, there may be limited circumstances under which part of it could be deductible. However, for standard Key Person coverage, deductibility is typically not an option. 

When Should a Business Consider Key Person Insurance? (Situations & Red Flags)

Not every employee needs a policy. You don’t insure the receptionist or the junior admin, unless they happen to handle something unusually critical. Consider coverage for individuals who:

• Drive a significant portion of revenue
• Hold specialised technical knowledge
• Maintain unique client relationships
• They are founders or executive-level leaders
• They are indispensable for regulatory compliance or operational processes

Red flags to watch for:

• Overreliance on a single person for sales or contracts
• Business performance is tightly tied to an individual’s skill set
• Succession plans that are weak or nonexistent
• Investor or lender pressure to secure continuity

If any of these apply, you should be thinking about Key Person Insurance.

Protect Your Business Today with Key Person Insurance

At the end of the day, Key Person Insurance isn’t about paranoia. Every business has vulnerabilities, and the loss of a key employee is one of the most expensive. A well-structured policy buys time; time to adjust, recruit, and keep clients happy without letting one event tank the company.

Morgan Insurance Brokers ensures your business can safeguard its essential team members with coverage that goes beyond standard policies. Reach out to us today for more information.

by Mojo Dojo

What Are The Unique Insurance Risks of a Vacant Commercial Property?

Most landlords have experienced a vacant commercial property at one point or another. If a sale is pending, or a tenant moves out of the property, or renovations are underway. Did you know that during this vacant period, your insurance policy does not continue as normal? 

At Morgan Insurance, we’re committed to a transparent partnership as your trusted broker, so we know it’s important to ensure you understand your policy. A vacant property can pose significant risks to a landlord as it becomes unprotected during this time. It’s easy to assume that everything will resume as normal when your property is in between stages, but the truth is, it could leave you vulnerable and liable for situations that are out of your control. So, what are some of the risks of a vacant commercial property when it comes to insurance? 

Let’s break it down.

The 5 Major Risks:

Despite your property being vacant, other risks may leave you liable as the property owner. Most of the time, these risks are unexpected, so it is important that the terms of your commercial property insurance are clear and understood. The 5 big risks you may face include: 

1. Vandalism

An empty property is at high risk for graffiti, public vandalism and destruction (i.e. broken windows and damaged structure). As there are no inhabitants, there will most likely be nobody present to report or prevent these events from occurring. It could be a while before you detect that vandalism has occurred, by which point, you could be liable for further damage that has been caused. 

1. Theft

A form of theft, known as stripping, is a high risk for your property while it's vacant. Thieves identify these properties as lower-risk, often ‘stripping’ them of air conditioning units, metals, fixtures and electrical wiring. This can result in damage that is higher in value than what’s been stolen, as it damages the structure and function of your property. 

1. Fire

Whether there is an accidental fire or by means of arson, a fire is a huge risk to your property. There is nobody present to detect smoke and prevent the spread of the fire. It is also easy for electrical faults or issues to go unnoticed, which increases the damage that the fire can do to your property. 

1. Water Damage

Water damage, either from a leak, a burst pipe, or stormwater damage, can go unnoticed and untreated for weeks or months. This is where major damage occurs to your property as it can create mould growth, collapsed ceilings and structural damage.

1. Public Liability/ Trespassing

A vacant property is at high risk of trespassing (squatters, homeless individuals, etc). If a trespasser is injured on the property, as the property owner, you will be liable.

Why Your Standard Policy Isn’t Enough

Most commercial property insurance policies have a ‘vacancy clause’, which means that after a period of vacancy (usually 30 or 60 days, although it is best to refer to your policy for clarity), your coverage will automatically be excluded or reduced due to the risks above. So, you’ll be paying for an insurance policy that won’t protect you or your property during this time. 

How Can Morgan Insurance Help You?

If your property is due to be vacant for a period of time, it is best to be prepared for the worst-case scenario by obtaining vacant property insurance (or unoccupied property insurance). This policy is designed to protect you from unexpected risks during the vacancy period and provides coverage for: 

• Fire
• Public Liability
• (Optional add-ons) Vandalism and Water Damage.

At Morgan Insurance, we want to ensure that you’re protected from all angles. So, aside from your additional insurance policy, we recommend that you take actions that ensure your property is more secure. For example: 

• Board up windows, add security fencing and high-quality locks and bolts if necessary.
• Install monitored alarm systems and ‘no trespassing’ signs. 
• Ensure that the property is regularly inspected so you can be updated with signs of forced entry, damage and infestations.
• Maintain the exterior of the property so it doesn’t look uninhabited.
• Maintain your utilities (i.e. shut off your water to prevent leaks).

Minimise Your Risks With Morgan Insurance

We understand the ins and outs of insurance policies, so we can help you navigate the best terms to ensure your property is protected, even when it's vacant. When your property is vacant, it’s hard to stay updated on what happens inside, and you don’t want to be left liable for extreme damages or legal action. As your broker, Morgan Insurance will be with you every step of the process, from when we find you an insurance policy that works, right up to if you need to make a claim. 

Don’t wait until tomorrow, protect your property today. Contact our experts today to ensure you’re prepared for your vacancy period.

by Mojo Dojo

Beyond Salary: Does Income Protection Cover Bonuses, Commissions, and Overtime?

Most working professionals will understand that their base salary isn’t the full picture. The modern reality is that professionals also rely on bonuses, commissions and overtime pay to supplement their total income. However, standard income protection policies will only cover your base salary or main source of income, which can leave your additional amounts unprotected in the worst-case scenario. 

So, how can you ensure that your entire income (including add-ons) is protected when you’re unable to work and need time to recover? Morgan Insurance are dedicated to ensuring you get the most out of your policy, and the only way to do that is by breaking down everything you need to know. 

What Does Standard Income Protection Insurance Cover?

Income protection insurance is designed to replace a portion of your income if you’re unable to work due to an unexpected illness or injury. Income protection insurance then provides monthly payments (for a specified period of time), typically up to 70% of your pre-taxable income, to help you meet expenses while you recover. 

It is important to confirm with your insurer what they define as your ‘income’. Most insurers will only cover your base salary as income; however, you may be able to agree on a comprehensive, tailored package, which tends to be more flexible. 

Your Salary Explained:

If your insurer is working up terms that include your income add-ons (i.e. bonus, commission and overtime pay), there may be some questions that help qualify this additional income under your income protection insurance. There are some elements to consider, for example: 

• Bonuses: Are your bonuses guaranteed or discretionary (performance-based)? These will be treated differently as discretionary bonuses are not regular, and cannot, therefore, be considered part of your regular income. 

• Commissions: As commission pay can vary across months, let alone years, insurers will usually look at a 2-3 year average to determine a stable amount that they can use as an estimate. 

• Overtime: They will look at whether your overtime is regular and reliable or on a one-off basis. If evidence can be shown for regular overtime (i.e. through payslips and tax returns), it can be considered as part of your regular income. 

What Evidence Do You Need?

As your additional income isn’t visible through regular payslips, you will need to prove to your insurer that it is a regular income through other methods. They may request evidence or supporting documents, like: 

• Last 2-3 years of tax returns
• Employment contracts that state a bonus structure
• Recent payslips where regular overtime can be identified

To ensure that your income protection insurance reflects your total income and protects you properly if you need to be out of work, you must detail all your regular forms of income and provide evidence to your insurer. 

Why You Need Income Protection Insurance 

This very much depends on your individual circumstances and current financial situation. The truth is, if you rely on your income, particularly additional income, you need income protection insurance. There are several questions you can ask yourself when deciding whether income protection insurance is right for you. For example: 

• Do I have savings or other financial safety nets to cover my expenses?
• What are my monthly living costs (e.g. rent/mortgage, utilities, groceries, debts)?
• Do I have dependents who rely on my income?
• Is this a short-term safety net, or do I need long-term coverage?
• Is my job considered high-risk or physically demanding?
• Does my employer provide any income protection or disability cover?

If you are still unsure, seek advice from a qualified professional who can help you determine the right level of coverage and policy options for your needs. 

How Morgan Insurance Can Help

As market experts, we can compare policies and navigate the market to secure you a policy that works for your lifestyle and protects your income efficiently. We can negotiate favourable terms on your income protection insurance that you won’t find elsewhere. Get the most out of your income protection whilst receiving expert advice from our brokers. 

Not only will we get you covered with a policy that works for you, but we’ll be there to handle the process from start to finish if you need to make a claim. If your income is made up of more than just your base salary, it’s worth protecting it. Contact us today, and we’ll get you started. 

by Mojo Dojo

The Life Insurance Medical Exam: What to Expect and How to Prepare

If you’ve been exploring life insurance, you may have come across the medical exam. The medical exam is a health assessment, which is conducted by a healthcare professional to determine your overall health. This is shared with your insurer to evaluate your eligibility and any premium rates that you may be eligible for in your coverage.

As the medical exam impacts your life insurance coverage, it can be the source of a great deal of anxiety for many people considering their options. However, the good news is that this exam isn’t determined by a pass or fail. Rather, it is used as a guideline to assess an appropriate offer and reasonably priced coverage on your life insurance. 

At Morgan Insurance, we want you to navigate your insurance policy with confidence. That’s why we’ve broken down what you need to expect for your life insurance medical exam and what you need to do. 

How Is A Medical Exam Used To Determine My Life Insurance?

To break it down, a medical exam is used to assess the risk of insuring you. It provides a clear and factual assessment of your health status that insurers can use to understand how you need to be covered. It helps determine: 

• That the information you provided on your application is correct.
• Any unknown and previously unidentified health conditions.
• Your risk level for deciding appropriate premium levels.

A stable and positive health exam result can lead to lower-cost premium rates for your life insurance, as it is considered less of a risk to insure you. 

Is A Medical Exam A Requirement For Life Insurance?

The truth is, if you’ve been asked to complete a medical exam, then it is a requirement. However, not everyone needs to complete one. Some policies with generally lower coverage won’t require you to complete a medical exam. You may be asked to complete an exam if: 

• You are seeking a larger coverage amount.
• You are over a specific age.
• You have pre-existing medical conditions or a complex family history. 

If you’re not sure if you’re required to complete a medical exam for your life insurance, you can contact a member of our team today, and they’ll help review and assess the conditions of your policy. 

Step-by-Step Of What To Expect:

Your medical exam will need to be completed by a health professional who isn’t your own doctor, and the insurer will typically pay for it to be conducted, so it comes at no extra cost to you. The exam will take around 20-30 minutes to complete, and it will involve: 

1. A photo ID check: This confirms your identity to the healthcare professional for their records.
2. Medical history: They will run through the questions you’ve already answered on your application to confirm if there are any details missing. It is important to be honest and consistent to ensure that the medical exam is thorough and useful.
3. Physical measurements: The healthcare professional will take simple details of your physical measurements, including height, weight, blood pressure and pulse. 
4. Samples: Usually, these samples will consist of a urine sample and a blood sample that will be checked for drugs, glucose, liver/kidney function, cholesterol, etc. 

How To Prepare: 

The most important aspect of your medical exam is that you get an accurate reading and representation of the status of your health. So, to improve your chances of a fair result, you should:

48-72 hours before:

• Avoid strenuous exercise to ensure accurate liver and kidney readings.
• Avoid fatty and sugary meals.
• Stay hydrated with a high water intake.

24 hours before:

• Avoid alcohol and nicotine. 
• Limit caffeine as it raises blood pressure.
• Get a good night’s sleep. 

On the day:

• You’ll typically be asked to fast for 8-12 hours. You should continue drinking water as normal.
• Have a list of any regular medications you need to disclose and your details ready. 

Remember! The medical exam can work in your favour, so it’s nothing to be concerned about. You’re one step closer to securing a life insurance policy that accurately represents your demands and considers your lifestyle. 

It is a routine check-up that assesses your overall health. The results will be sent directly to your insurer, from whom you can request a copy. Your insurer will review the results to assess the insurance policy terms that they can offer you.

Your Medical Exam Explained With Morgan Insurance

The life insurance medical exam is a simple step in the process to ensure that your family are financially protected in the long term. It doesn’t need to be nerve-racking when you choose Morgan Insurance as your broker. 

We’ll help you prepare for the exam and understand its importance. As your broker, we’ll negotiate good terms for your life insurance and ensure that it aligns with market value and your expectations. 

Ready to get started? Morgan Insurance can help you take the next step with confidence. Contact us today to get started.

by Mojo Dojo

Commercial Property Insurance for Medical Centres

Owning a medical centre as a commercial investment property comes with unique risks. From specialised tenant fit-outs to constantly evolving healthcare regulations, medical buildings need solid insurance protection. This guide explains what cover you need, why it matters, and how to ensure you’re properly protected as a commercial landlord with the correct commercial property insurance.

1. Why Commercial Property Insurance for Medical Centres Matters

Medical centres have high-value equipment, constant foot traffic, and strict operational requirements. As a landlord, your responsibilities focus on protecting the building, not the medical practice inside it, yet your exposure is significant if something goes wrong.

A tailored commercial property insurance policy covers risks such as:

• Fire, storm, vandalism, water damage
• Building repairs or full rebuilding
• Loss of rent
• Liability exposures associated with the property
• Tenant risks and complex medical fit-outs

This type of asset is too valuable to leave underinsured or incorrectly insured.

2. Business Interruption: Why 24 Months Should Be Your Minimum

Business interruption (loss of rent) protects your rental income if your building becomes untenantable due to an insured event. For medical centres, 24 months should be the minimum indemnity period, and here’s why:

a. Rebuilding takes longer than it used to

Shortages in trades, materials, council approvals, and permit delays can push reconstruction well beyond 12 months.

b. Medical centres need specialised fit-outs

Healthcare fit-outs involve plumbing, electrical, disability access, compliance, and council health approvals—significantly extending reinstatement time.

c. Tenant relocation and return times vary

Even after the building is repaired, tenants may need extra time to reinstall their medical equipment, comply with regulations, or resume operations.

Choosing 24 months ensures your rental income is protected throughout the entire rebuild and reoccupation period, not just the first half.

3. Why Commercial Property Owners Liability Is Essential

Property Owners Liability protects you if someone is injured or their property is damaged due to your building.

For medical centres, this is crucial because:

• Foot traffic from patients increases slip-and-fall exposure
• Visiting contractors (pathology, chemists, cleaners) create additional risk
• Any structural or maintenance issue could trigger a claim
• Medical centres often operate extended hours, increasing the chance of incidents

If a patient or contractor is injured due to a hazard on your property, you could be held liable even if the tenant is in occupation. The right cover protects your financial position.

4. What You Need to Provide for an Accurate Insurance Quote

Your broker or insurer will need the following:

✔ Tenancy Listing

Details of each tenant, their business type (GP, pathology, radiology, allied health), and floor area.

✔ Annual Rental Income

Accurate figures ensure correct business interruption cover.

✔ Building Replacement Value

A professional building insurance valuation is recommended, medical centres have complex structures and compliance requirements that increase rebuild costs.

The more accurate your information, the more accurate (and reliable) your cover will be.

5. How Morgan Insurance Brokers Can Help

Morgan Insurance Brokers are specialists in commercial property insurance, including assets with medical tenants. Here’s what sets them apart:

• Expert understanding of medical centres and the unique risks involved
• Access to multiple insurers to find the best coverage and premium combination
• Tailored policies, not generic one-size-fits-all packages
• Assistance with building valuations, risk assessments, and tenancy reviews
• Dedicated claims support to guide you through complex reinstatement and loss-of-rent claims

With experienced specialists on your side, you avoid gaps in cover, underinsurance issues, and costly mistakes.

Final Thoughts

Medical centres are valuable, complex commercial assets, your insurance should reflect that. With the right commercial property policy, 24-month business interruption cover, and essential liability protection, you safeguard both your building and your income.

Morgan Insurance Brokers can help you secure the best cover and ensure your investment remains protected long-term.

by lauren

How Major Life Events (Marriage, Mortgages, Children) Should Trigger a Life Insurance Review

Life insurance provides you and your family with financial security and peace of mind when you can no longer. However, the terms of your life insurance are typically agreed in line with your lifestyle and details. So, if any major life events occur that change your circumstances, it is important to review your life insurance to ensure that it will still protect you as you expect it to. 

As changes happen in your life, you may need to update and change your life insurance to protect the changes. So,  what is a life insurance review, and why do major life events trigger a review?

What Is A Life Insurance Review and Why Is It Important?

A life insurance review is a check-up on your policy to understand if its terms still meet your demands. It reviews things, such as: 

• Coverage amount (term or permanent cover)
• Beneficiary details (i.e trust arrangements)
• Policy Type 

It is generally recommended to conduct frequent life insurance reviews (for instance, every 3-5 years) to ensure that details are updated and your life insurance still protects you the way you need it to. You’ll generally be confirming that you’re not paying too much for coverage that you don’t need, or paying too little and not being prepared for the worst. 

Another important time to review your life insurance is when a major life event occurs. This can include marriage, having children or buying a home. When these life events occur, it may change your circumstances by adding responsibilities and people that you care for, and will therefore want to protect under your life insurance.

How Do Major Life Events Trigger A Review?

These events can change your priorities, responsibilities and duties. So, it’s important to review your life insurance and ensure it is updated.

Marriage:

If you get married, it may mean merged finances and joint financial responsibilities. You may want to consider adding them to your life insurance so they're protected for the future, as they’ll be responsible for your finances and other debts in case of death.

Mortgage:

Buying a home actually triggers an insurance reassessment as you’ll have new responsibilities and debts to insure and protect. You’ll want to ensure that this is clear on your life insurance policy so that your family are protected from financial liability and hardship in case of death.

Children:

When your family grows, so does your financial responsibility. There’s a lot to consider, including education and day-to-day expenses. Both parents must be covered to ensure future financial stability and health. 

How To Review Your Policy

To effectively review your policy, you should assess your needs and how they’ve changed since you purchased your life insurance. When it comes to life insurance, you want to know that you’re getting the best deal possible, so compare quotes with other insurers to cover your bases and secure yourself a policy that protects you and your family. 

It’s always best to seek expert advice from an insurance broker, like Morgan Insurance, who can help you navigate the ins and outs. We’ll give you the clarity you need whilst prioritising your interests. 

How Morgan Insurance Can Help

When you partner with Morgan Insurance to help navigate and review your life insurance, you get an expert. We know the market better than anyone else, so we can help secure you a policy that protects you exactly as you need it to. We’ll leverage our market knowledge to secure you the best deal and guide you through your policy. 

Sometimes all you need is clarity and detail. That’s exactly what you’ll get with us. We don’t want any part of your insurance policy to be unclear, so we’ll help you understand exactly how you’re covered. And we’ll be there for ongoing support, review and claims handling when required. So, you never need to wonder what comes next. 

Get In Touch Today

Protect your family and their financial stability today with Morgan Insurance as your broker and partner. We’ll review your current policy and ensure that you’re set up for the future. Don’t leave it until tomorrow; get in touch with our team today. 

Contact us on 1300 109 778.

by Mojo Dojo