Terms of Engagement

We value transparency, below you will find all of the details of our Terms of Engagement. This lays out everything from late payments to cancellations, duty of disclosure and much more.

It is important that you provide us with complete and accurate information about the risk to be insured otherwise the advice we give you may not be appropriate for your needs. In turn, a lack of disclosure may affect the insurer’s decision to provide cover in the instance of a claim.
In addition, you must answer any questions that we and or the insurer ask you in an honest and truthful manner.  If you do not take reasonable care not to make a misrepresentation to the insurer, the insurer may cancel your contract, or deny or reduce the amount the insurer will pay you for a claim, in accordance with the insurer’s rights at law.
A misrepresentation includes a statement that is false, partially false, or that does not fairly reflect the truth.
You have the same duty to disclose those matters to the Insurer before you renew, extend, vary or reinstate a contract of general insurance.

Your Duty of Disclosure is especially important in matters relating to the physical risk and any matters that may affect the acceptance of the risk such as insolvency, criminal conviction, driving convictions and /or change of driver details.

If your circumstances change, please tell us so that we can ensure that your insurance continues to be suitable for your needs.

As brokers, we have access to a large number of Insurers and Underwriting Agency that we will use when quoting your insurance needs.

Before making a recommendation on the cover required, we will go to the broader general insurance market to obtain a minimum of 2 quotes and up to 12 quotes.  This will enable us to ultimately source a solution that meets your specific needs.

It is important to note that in the instance of specialist liability policies, we have access to a limited number of insurers and underwriters.  As such, in this instance we will not be seeking quotes from the broader general insurance market.

Prior to your policy renewal we will contact you at least 30 days prior to re-assess your needs. If we are unable to get in contact with you, we will renew your policy on existing coverage with your holding insurer.

If you do not respond to our request for updated information and we need to auto renew your policy, should you make changes after this, we reserve the right to charge a $50+ GST administration fee for the additional work.

If you no longer require cover it is important to contact us in writing. At this point, we will cancel the policy and notify the insurer. Please note the cancellation needs to be issued by an authorised person.
We are unable to take verbal instruction to cancel a policy and a cancellation can only be processed effective from the date we receive your instruction, we cannot backdate cancellations.

If your policy is cancelled before the expiry of the period of insurance, we reserve the right to refund to you only the net return premium we receive from the insurer and not refund any part of the broker fee or commission we receive for arranging the cover. A broker fee may also be charged to process the cancellation.

Due to the amount of work undertaken we retain our commission in an event of cancellation or amendment.

Insurers may deny a claim under this Policy if, at the time the claim occurred, any instalment of premium has remained unpaid for fourteen (14) days or more.

When making payment for a policy organised by us you may make payment using one of the following methods. Before choosing a payment method it is important to note the following.


  • We will invoice you for the premium, statutory charges (e.g., stamp duty, fire services levy, etc) and any fees we charge for arranging your insurances.
  • You must pay us within 14 days of the date of the invoice or, in the case of a renewal, before the expiry date of the contract of insurance.
  • If you do not pay the premium on time, the insurer may cancel the contract of insurance and you may not be insured. The insurer may also charge a short-term penalty premium for the time on risk.

Premium funding

  • Premium funding products enable you to pay your premiums by instalments. Premium funders do charge interest and they take power of attorney over your insurance policy.
  • We can arrange premium funding on your behalf if you require it.
  • We may receive a commission based on a percentage of the premium from the premium funder for doing so.
  • We will tell you the basis and amount of any such payment before or at the time the premium funding is arranged.

Credit card fees

  • Payments by credit card may attract a surcharge.

In the event of a claim, we are your advocate and we will work on your behalf to ensure a timely and successful claims outcome.

When you need to make a claim, we can advise if it is covered under your policy and we will assist you to prepare and submit the claim to the insurer. If there is uncertainty about whether a claim is covered under your policy, we will advise you.

We will promptly forward to you all claims documentation, insurance company settlement offers and any other information.

We are unable to authorise any repairs to damaged property until approved by your Insurer.

At Grace Insurance we have a team of qualified professional brokers who are dedicated to providing you with a great client experience.

You may at any time request alterations, endorsements, amendments or corrections.

You can contact us via the following and we will endeavour to respond to your within 24 hours.

Grace Insurance Head Office
Phone: (08) 6116 8100
In Person: 2/124 Winton Road Joondalup WA  6027

If you need special assistance
We are committed to supporting people with diverse needs and take into account their specific circumstances. This includes people currently experiencing any vulnerability, for example relating to age, disability or mental or physical health conditions. Please advise us if you there is anything we can do to provide

As you can imagine it takes a lot of work placing and recommending insurance programs for our clients. Where applicable, our broker fee will be detailed on your invoice and provided to you at the time you receive advice or as soon as practical after that time.

We may also earn a commission that may range from 0% to 30% (excluding government charges, levies, fees, and taxes) by placing business with insurance providers.

We may also earn a commission from Premium Funding placements of 0% to 2% commission.

Due to the amount of work undertaken we retain our commission in an event of cancelation or amendment.

As your Broker, we act on your behalf and we will always put you first. We are your advocate and we will always act in your best interests when it comes to the most appropriate cover, the best price and in the event of a claim.
As part of our commitment to provide you with excellent professional service, we will agree a timetable for managing your ongoing insurance requirements. This will ensure that you know what insurance services we will provide to you and also what we need you to do to assist us.

When providing advice we will take into consideration the information you have provided us with. Before taking any action, you should consider whether the advice we provided is appropriate to you having regard to your individual circumstances. Please read relevant product disclosure statements before making a decision. In order to provide this advice, we rely on you to provide accurate and complete information.

Unless we agree otherwise, our appointment is ongoing. Both parties can cancel by providing 7 days written notice of cancellation of broker appointment or servicing of client.

We also provide you with a Financial Services Guide (FSG). This document contains important information about our relationship with you such as

  • Our status as a licensed financial services provider;
  • disclosure obligations on your part and ours;
  • potential conflicts of interest that we have in our dealings with insurers and other service providers;
  • professional indemnity insurance arrangements;
  • internal and external complaints resolution procedures
  • details of our privacy policy

We will notify you of any changes to terms of trade or services provided.

We thank you for your continued support and should you have any queries, please do not hesitate to contact us.