Whether you own a small business with tiny premises and just a handful of clients, or you manage a large organization with multiple locations, operating without an adequate business insurance policy is not a risk worth taking.
The unfortunate reality is that accidental damage, fire, theft, and personal injury claims are too common and it’s often not fully appreciated by business owners what kind of costs are involved should such claims occur.
Many owners aren’t aware of all the available policy extras that could further protect their businesses. And those are the main areas our brokers focus on to ensure you get the best possible financial protection.
What Is Business Insurance?
Business insurance is a policy designed to protect owners from unforeseen and crippling costs associated with different situations that they could be exposed to.
Whether that’s an employee or customer tripping and suffering a severe injury, or a fire damaging some critical stock or machinery, you could end up in a serious financial situation if you don’t focus on the right business insurances available.
The great thing is that there are many types of insurance policies that combine multiple different covers into one product so that you can avoid taking out multiple policies.
This could also make it a much more cost effective solution.
Here are a few main areas that a business insurance policy would cover:
– Fire & Accidental Damage
– Business Interruption
– Machinery Breakdown
– Electronic Equipment Breakdown
– General Property
– Tax Audit
– Transit Cover
– Employee Dishonesty
– Public & Products Liability
Not all of these are automatically included and some have to be chosen as optional extras. This catches out many business owners who use online quoting systems without fully understanding what the extras are designed to do.
If you have any concerns about how to best protect your business and personal financial risks, then talk to one of our dedicated business insurance brokers today on 1300 886781.
We’ll fully assess your business needs and tailor a solution to best protect your financial interests with a no-obligation quote.
What Risks Does Business Insurance Cover?
Over the years, we have helped many of our clients through tough insurance claims situations. Fortunately, they were able to take advantage of the advice we provided them, which resulted in better policy protections through added extras.
These include some costly situations that could result in crippling expenses.
1 – Flood Cover
Flood cover is a common oversight for many business owners. They see some wording about flooding in the policy and automatically determine that they are fully covered.
In most cases, those types of standard cover only extend to flash flooding as the result of a storm, and not due to rivers, canals or lakes causing flood damage.
Our team of brokers has experience in fully assessing your risks to flooding and will review changes to flood maps so that you can make sure that you’re protected in the best possible way.
2 – Business Interruption
Serious weather disruptions, along with risks of fire, could put your business on hold. But that doesn’t mean that you can just sit back and wait for repairs and replacements to be completed.
When your business comes to a standstill, you’ll still have to pay bills, rent, and your staff. And it’s at these times that you need to ensure continuity so that you can focus on rebuilding your business operation rather than worrying about how you’ll make payroll.
Business interruption cover is designed to make up the shortfall in revenue during an insured event to help you get back to full operational activity as fast as possible.
3 – Machinery Breakdown
Whether you own a small business or large industrial operation, you’ll often be dependent on a few key pieces of machinery to provide your services or manufacture certain goods.
Having cover for such machines is a good idea, especially if they are complex machines that may take some time to repair or replace.
Here are a few examples:
– Refrigerators & ice machines
– Cool room motors
– Centrifugal chillers
– Air compressors
– Air conditioners & evaporative coolers
– Dishwashers & glasswashers
Take a moment to consider all the machines in your business and how disruptive a breakdown would be.
If you want to make sure that you protect your business in the best possible way, then why not have one of our brokers assess your current policy.
We’ll review your circumstances and then provide you with a no-obligation quote. Just call us on 1300 886781 today to arrange for an in-person meeting.
Partner With Aspire Insurance
At Aspire Insurance, we have created a client service that has ensured that you gain a partner to help you focus on running your business rather than worrying about the what-ifs.
We have achieved this by building long-term partnerships with our clients who all enjoy a level of service not matched by other brokers.
Insurance claims are a stressful enough situation when you have to worry about how to get your business back on track.
By taking advantage of our 24/7 support service, you’ll have a strong backup partner to help you take care of the claims processing to make sure you have fewer distractions.
Carefully Chosen Policies
We only pick those types of insurance policies that are most suited for your needs, and we carefully assess your organisation and assets to make sure that sums insured don’t leave you at risk of financial losses.
Annual Policy Review
Before each policy renewal, we will assess whether your business has changed and whether that requires updates to your policy for property damage or third party claims. This also ensures that you always get the best possible quotes.
Face To Face Consultation
By dealing with Aspire Insurance, you’ll always work directly with a real person rather than an automated quoting system. As a result, you’ll gain peace of mind that you fully understand what you’re covered for.
Contact Us Today
If you have any concerns about how to best protect your business, then contact one of our business insurance brokers today on 1300 886781.
We will ensure that you fully understand all the available options and that you don’t miss out on important protections that could otherwise leave you at risk of serious financial losses.