No matter the size, having your business insured is an absolute must-do; your business is not only your livelihood but the livelihood of all its employees. To do this, a valuation of the business and its assets must be provided. However, having your business professionally valued could be the make-or-break difference that dictates whether or not you are fully covered, and we have the three main reasons why:


Missing or underestimating property and equipment values is a common and critical mistake made commonly from assumptions and inexperience. Professional valuations offer a full breakdown to ensure your business is completely covered should a claim need to be made; this mitigates the risk to the business. It is common for businesses to be underinsured when there is a claim with the business being treated as a co-insurer by your insurance underwriter. That means that the business is actually covering a component of the loss in its own right.

Over insurance

Similarly, Directors’ valuations can lead to an overestimation which can cost your business substantially in excess premiums. In addition to this, it greatly increases the risk that a claim will be denied or considered fraudulent.

Quicker Claims

Having clear documentation and agreed insurance values minimises disputes and means that if you do need to make a claim, the process will be much more efficient. This saves you money and may in fact save your business by allowing your business to recover sooner.


There’s no job too big or too small for the team at Hymans and we always strive to deliver on our clients specfific needs, so please reach out for an obligation free chat about how Hymans can help.


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171 Clarence Street

T 02 8270 4444


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167 Queen Street

T 03 8683 0167


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260 Queen Street

T 07 3252 2943