Close search

Search the handbook

  • 08 Accidents and Insurance
  • Insurance
handbook symbol Tasmanian Legal
Handbook

Insurance

This chapter considers major types of insurance (car, personal injury), how to obtain insurance, what different parts of the insurance contract mean, the essentials to reading an insurance policy, practical advice on renewal and cancellation, what may be excluded from an insurance contract and the role of insurance brokers.

The Contract of Insurance

Insurance law involves Commonwealth legislation and the common law. The Insurance Contracts Act (Cth) 1984 is the major statute discussed in this chapter. Other relevant legislation includes the Life Insurance Act 1995 (Cth). Insurance law is so complicated, that any short stat...

Reading Insurance Policies

While it is easy to say ‘policies should be read closely to ensure you realise what is and what is not covered’, even lawyers find the small print of insurance policies difficult to interpret. Some insurers have produced, for car and householder insurance, Plain English Policies which are much cl...

Obtaining Insurance

This chapter still needs a description to be added

How to…

Renew a Policy Many insurance policies are renewed from year to year. Insurers must, under the Commonwealth legislation, give 14 days notice of the expiry of the policy. If they don't, insurance cover continues at no cost to the policy holder unless and until a claim arises. Then, the policy hol...

What Is?

What is an Averaging Clause? Where the insured person has taken out a policy on property, the insurance policy may stipulate that it is subject to an average. This clause is intended to prevent under-insurance, which causes a loss of premiums to the insurer. Under-insurance by one insured person...

Exclusions

Exclusions Under Car Insurance Some of the more common exclusion clauses prescribed in the regulations under the Insurance Contracts Act under this heading include the following: “Policy to be invalid while the car is in an unsafe or unroadworthy condition”. Some of the more reasonable poli...

Complaints

General Insurance Issues Complaints against insurers – whether the policy is for life insurance, motor vehicles, home and contents, any type of insurance, can be initiated through the Commonwealth Financial Ombudsman Service. Of course, it is best to contact your financial service provider – i.e...

Insurance Brokers

Insurance brokers who hold themselves out as having professional expertise to assist in arranging contracts of insurance, must be registered.  They will, except in limited circumstances, always act as the agent of the insured or the intending insured.  Thus they will be professionally liable for ...

Page last updated 19/03/2018

Previous Section Motor Vehicle