FRANCHISEE F.A.Q (FREQUENTLY ASKED QUESTIONS)
I am a prospective franchisee and need to have my insurance in place for when I start?
It is highly advisable that upon the issuing of your franchise agreement from your Franchisor that you visit www.jimsinsurance.net.au. We now have an online Quote and Buy facility. You will be able to see online accurate pricing for single or multiple covers at the same time. As you adjust your covers you will see the price at the bottom adjust also. It’s a similar system to how you would purchase your car insurance. If you are happy with the pricing and your selected covers, you can then purchase the cover instantly after completing a few more details.
I have sold my franchise and need a refund for my policies?
If you need a refund for your insurance cover due to you no longer being a Jims Franchisee you can email us at email@example.com or call us on 1300 546 000. There are a few things you will need to keep in mind when requesting the refund. The first is that you need to make sure that your franchisor has put in a finish date on the FMS system. If your franchise code is still live when requesting the refund, we will not issue a refund until your code is finished on FMS. Please only request a refund once you know that you have been finished on FMS. Also, keep in mind that we issue refunds only 2 times every month, this is either at the start or in the middle of the month. If you have Premium Funded your insurance please take note that the return premium has to be sent to premium funding to settle your contract which in most cases will lead to a shortfall that needs to be paid by the relevant party stated on the agreement. Premium funding will recover any shortfall from you by corresponding with you directly.
What is Premium Funding?
Premium funding is an option available to franchisees who select insurance policies totalling more than $600. Premium funding is an agreement in which Premium Funding pay your premium on your behalf and then recoup the amount from you via a monthly direct debit. The main purpose is to free up cash, flow especially if you are a new franchisee. Please take note that as with any company there are various charges applicable, it is highly advisable that you read the premium funding document issued with your policies so that you are fully aware of all the terms and charges.
Do I need to make changes to my insurance cover?
Do I need a certificate of currency?
The new online system will provide an instant certificate of currency (via email) to the franchisee or new signup upon payment or setting up a direct debit option. A major problem for franchisees not receiving their start dates on time is not having the certificate of currency. With this system, if your franchisee or new franchisee has paid, they will have a certificate emailed to them upon payment. You can then have them forward this straight to the document team or yourself if you require.
Does my Sub-Contractor need Public Liability?
It is a common occurrence that franchisees and franchisors engage the services of sub-contractors (Independent Contractors) for various tasks.
Please be aware that the sub-contractors you engage services of, must have their own public liability insurance. Your public liability policy does not cover any sub-contractors you engage; it will cover only your employee(s).
If you are unsure of the difference between a sub-contractor (Independent Contractor) and an Employee, please refer to the link below:
Fair Work Ombudsman
Please note that the common indicators provided above are not to be read in isolation, but in conjunction with other indicators to form a complete view.Courts always look at the totality of the relationship between the parties when determining the status of a person’s employment.
We can provide a quote to your sub-contractor but not at the Jim’s Group rate. If you wish to have them insured through us please direct them to obtain a quote via the website.
Fire Service levy
We are required by law to contribute to the annual budget for fire services. The relevant authority in these States determines the amount of our mandatory contribution. It is calculated on our percentage share of the premium income received by all insurers for particular classes of insurance cover, in the preceding financial year.
We pass the cost of our contribution on to you as a levy which we charge on the premium you pay for the particular class of insurance policies on which our contribution is calculated. We call this the “Fire Services Levy” (FSL).
Depreciation Schedule (Only applicable to Jims Mowing Franchisees) for the Tools Policy
Mowing Depreciation Schedule
Lawn Mowers (less than $2,000 in value) and all other Equipment
Less than 6 months old – nil depreciation
6 – 12 months – 25% depreciation
12 to 18 months – 50% depreciation
Greater than 18 months – 75% depreciation
Mowers ($2,000 to $15,000 in value) and all other Equipment
Less than 12 months old – nil depreciation
12 – 18 months – 25% depreciation
18 to 24 months – 50% depreciation
Greater than 24 months – 75% depreciation
Ride on Mowers (greater than $15,000 in value) and all other Equipment
Less than 12 months old – nil depreciation
12 – 18 months – 10% depreciation
18 to 24 months – 25% depreciation
24 to 30 months – 40% depreciation
30 to 36 months – 55% depreciation
Greater than 36 months – 70% depreciation