Whilst most Australians now go direct to the insurance companies for their home and car insurance, when it comes to business insurance, brokers are still the preferred option.
There are many benefits in using an insurance broker for your public liability insurance and other forms of business cover, and in today’s guide we will take a closer look at some of those benefits.
Getting the Best Premium
Now more than ever business owners are looking to cut costs and get the best value for each dollar spent. Insurance can be an easy area in which to make serious savings, but you have to do it properly.
You could do all the shopping around yourself, but aside from getting quotes from multiple insurers you also need to know enough about public liability insurance to ensure you are comparing apples with apples and getting the right cover for your needs.
You could take the time to explain your business operations and needs to multiple insurance companies, or you could deal with a single insurance broker who understands your business and can get multiple quotes from various insurers in a much shorter time frame.
An insurance broker can help you to find the most competitive premiums thanks to their access to multiple insurance companies, often through a single system that is not available to the general public.
A broker will generally be the best avenue for securing the lowest public liability insurance cost for your business.
All business owners are very smart and capable people. You need to wear multiple hats to ensure your business runs smoothly every day, and with enough time any business owner or manager could look after their own insurance needs.
But if like most business owners you don’t have days to spare, you could risk trying to sort out your insurance in a short period of time without being able to properly research everything involved. And even then, could you be 100% confident in what you’ve done?
An insurance broker lives and breathes insurance, and you can be confident that they will be doing the right thing for you and your business. And if things go bad, you can enjoy some level of comfort knowing that the insurance broker will hold mandatory professional indemnity insurance.
Whilst any business owner will know their own industry very well, not all will know how their industry affects their insurance requirements.
There are a growing number of specialist insurance brokers who provide advice and service to businesses in specific industries.
Common industries for brokers to specialise in are those which have specialised insurance requirements. These include the medical and health industries, as well as the trades and building industries.
By using a broker who specialises in public liability and other forms of insurance for your industry you can enjoy the added confidence of knowing that you broker understands your industry and the specific risks that you need to protected against.
Keeping Paperwork Simple
Insurance can be loaded with paperwork and red tape, but many of today’s brokers have implemented systems which help to keep paperwork to a minimum.
Your insurance broker can also help you through the public liability application and paperwork process so that you can concentrate on running your business instead of shuffling papers.
Perhaps one of the greatest benefits of using an insurance broker is having someone there to assist you in the event of a claim.
Whilst property claims can be quite straightforward, public liability insurance claims can sometimes become very complex and can stretch out over months or even years.
You could handle the claim yourself in conjunction with the public liability insurance companies and your solicitor, but the preferred option for most business owners is to have an insurance broker on their side that understands how the claims process works and can guide them through it.
There are many benefits in having an insurance broker who can assist with your public liability and business insurance. If you would like to be put in contact with a suitable broker please get in contact with us or complete our online quote form.