Gallaghers have provided us with a simple 5-step plan to get your insurance planning on the right track:
1. What keeps you awake at night?
No two businesses are the same. Insurance can cover many risks and a good starting point is to make a list of everything thatcould cause an unexpected financial loss in your business. In particular, the things that worry you most are probably the thingsthat need to be managed as a top priority.
2. Mind the gaps
Leaving risks exposed or under-insured can cost far more than an investment in insurance. Do a stock-take of all your policies to see if you’ve covered all your bases. For example, if you rent your business premises, check your lease to make sure you are covered to the right limits specified in your lease.
3. Is your house in order?
Next, think about some key housekeeping questions relating to your business. When was your property last valued? When did you have your last health and safety check? (for security, fire protection and so on).
4. Family first
Make a list of any life, trauma, income protection and other personal insurances. Ideally, you should develop a program that covers both your family and your business.
5. Go with a pro
Last but not least, compile your preparation and find an insurance broker who you can trust, just like Gallagher. For convenience, look for a ‘full service’ broker who can help you with both your business and personal insurances.
Team Leader / Business Development Manager
Adelaide, SA (Australia)
mobile: +61 488 001 696 | direct: +61 8 8172 8013