Every business faces a thousand and one risks from fire, employee injury, theft… the list could go on. Fortunately, the probability that these risks will realize themselves are not all equal and depending on your particular industry or location, some risks will be greater and some will be a whole lot less.
Business Insurance is expensive! Even at 1300 Insurance, where we offer good value low premium online business insurance, our quotes can still even surprise your expense table! The key to buying insurance for your business is narrowing down what kind of risks are the most likely to occur and then buying insurance to underwrite that risk.
It takes expert knowledge of the field to which is often hard to come by. 1300 Insurance suggests calling your trade association or organizations that support businesses in your industry. They are likely to have plenty of experience in the industry and have seen businesses come and go throughout the many years they have been standing (please do find an organization that has been established for at least ten years).
Businesses buying insurance often fall into the trap of exaggerated fears, especially litigation. Not all businesses have the same risk and not all potential risks are equal. Be rational when deciding on your business insurance premiums and remember to always find an insurance provider, like 1300 Insurance, whose premium can be customized to that of your particular business needs.
Get insurance jargon out of the way by seeking help from insurance advisers or brokers. Insurance terms are one of the pitfalls of a large group of insurance buyers and you shouldn’t be tricked into paying more just because you don’t understand a couple of words.
Don’t go broke paying business insurance! Get your insurance to work for you, not the other way around!