Five Steps to Getting Your Business Insurance Right
This process will keep you out of financial hardship when business goes wrong.
At the end of it, you will have more choices to make an informed decision on the protection of your business, saved money and go away knowing you have a tailored insurance solution to meet your needs.
1. Creating your tailored package
Firstly, we want to get to know you a bit so we can start building the trust and the business relationship. We want to be your partner in the insurance world, to protect your business and keep you from financial hardship.
You probably have a few questions and concerns about insurance and risks, so we’ll answer those for you. You get more than just insurance because we can share what we see working in other businesses we speak to.
Next, your business needs to be understood as best as possible to create the right protection package. We ask you to share details of your operations, goals, employees, assets and appetite for risk to figure out how to help you.
If you can have your finance and other insurance paperwork available, that helps a lot to getting a better picture of your situation.
As we begin to understand your business and your risks, some of the questions we’ll ask are:
What is the reason you’re looking at your insurance?
What is the value of your assets – buildings, vehicles, stock and contents?
What security measures do you have in place?
What has been your claims history?
What agreements are in place that specifies the limits you need?
Are there any additional parties with interest in your business?
2. Give you more choices
We want to give you choices so you can make an informed decision.
After we’ve gathered your details, we do the hard work for you to negotiate with insurers and underwriters to find the right cover for you. We can work with over 100 insurers in Australia and London to find you terms that fit your unique business, at the best price.
For most small businesses with good claims history, we can have a quote for you in just a few hours.
Our aim is to provide you with at least three quotes from leading insurers. If you’re in a high-risk industry, that might not always be possible (depending on who is willing to provide cover terms). However, we will make sure whatever we present you matches what you need.
3. Get expert advice and recommendations
Once we have your quotes, we’ll go through your options and pay special attention to exclusions and coverage limitations that might affect you.
This is the long and boring but important stuff most people don’t have time to read in their policy documents.
We are here help take away the complexity and guide you through it.
You will see different options and limits and be able to decide which works best.
In the end your final proposal will be tailored exactly for your business’ needs. You can rely on our expert advice to help you make your final decisions! Remember, we are on your side.
4. Start your policy
Once you’ve decided on the policy for your business, we inform the insurer to issue the cover.
You receive your invoice and policy schedule along with an easy monthly payment option.
We can also put you in touch with funders who are able to offer loans to help with your business expenses. Ask us about it.
5. You are not forgotten about!
This is where we earn our reputation!
You’re busy, so we can schedule a time to chat quickly sometime during the year for any critical updates. You don’t need to worry about remembering the details – we will set a reminder and so you don’t have to think about it.
We do this because we understand that business is forever changing – you may purchase new equipment, planning to build new premises and haven’t found time to look into the insurance, or you may simply forgotten to update your details.
And at least 6 weeks before your policy is due for renewal, we’ll start the process again and shop around for you. We make sure you’re still getting the best cover and best price for the year ahead.
This is how we make sure you continue to have the best cover, year after year.