Insurance Brokers Increase Cover and Hold Premiums
Unless your background is spending hours pouring over contracts and trying to read legal terminology; do you and your business a favour and enlist the services of a professional Insurance Broker.
I’m not talking about cutting insurance premiums or removing cover; rather, by ensuring you know what cover is available, you know what cover you are willing to hold yourself (self-insure), and what cover you want to offset with insurance to protect your business cash-flow, liabilities and assets (property).
Make realistic decisions based on having the information to make these decisions. This should include a risk matrix of what your risks are, what your options of cover are, the applicable excesses and premiums. This should also include alternative risk management strategies which may include risk surveys, other professionals, options for higher excesses for reduced premiums, payment plans etc.
The most important part of general insurance is the coverage at claims time; the most important adjunct to this is ensuring you have an open and honest relationship with a reputable broker whom you personally get along with. This like any other external business relationship is about trust and communication.
Should you require a referral to a capable Insurance Broker in Australia, please contact us.
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