Monthly Archives: July 2013

6 Ways Insurance Brokers Help Businesses

There’s many small and medium businesses in Australia that don’t value the need for adequate insurance cover. Yet, there are businesses who do allocate enough funds to obtain seemingly ‘right business insurance’ but end up shocked when they either fail to get the desired cover, or worse a CLAIM is denied at a time when they need the most. Why? Because they had little or no idea of the exclusions and excesses in the policy document! By now, you must have realized why smart business owners rely on specialist business insurance brokers or commercial business insurance brokers to assist and facilitate theirrisk management strategies.

Listed below are the top 6 ways insurance brokers in Australia can help businesses:

    • Expert Insurance Advice

business-insurance-lake-county-illinois A business can get expert advice on different types of insurance coverage usually placed by SMEs in Australia. Professional insurance brokers provide personalized guidance based on the analysis of the nature of business and the risks involved.

    • Bridge the Gap

With an insurance broker by your side, you no longer need to contact different insurance companies, online insurance comparison websites or multiple agents who specialize in different types of insurance policies for businesses. Commercial business insurance brokers in Melbourne serve as a one stop solution for their clients.

    • Get the RIGHT Coverage

Expert brokers can recommend you the right coverage depending upon the industry vertical, financial strength, future projections and risks involved. Most businesses struggle to get the appropriate coverage, whether it’s commercial property insurance, professional indemnity insurance or any other policy.

    • Get the Optimum Price

Depending upon the nature and size of business operations (number of buildings, assets, employees, salaries, revenues etc.), commercial insurance brokers can assist businesses to find the most suitable insurance policy in terms of the mix between price and cover.

    • Buy the Right Travel Insurance

Having business travel insurance cover in Melbourne is a must if your employees or senior executives need to go out on frequent business trips. With correct travel insurance purchased with the help of a broker, your executives or employees can focus onthe ‘agenda’ of a business trip instead of medical expenses or reimbursements for cancelled or re-scheduled flights.

    • Attention to Detail

shutterstock_68272303-600x436 An expert broker with hands-on experience in the field can either act as or work with a risk management assessor. He or she can assess the potential risk to people, building, machinery and other assetsthat contribute to the overall value of a business.

Many a times, business owners are unaware of the potential dangers they maybe exposed to. For example, a large number of businesses with dozens of computers, an e-commerce website and other digital tools still do not have cyber insurance. Also, several medium and small businesses that run manufacturing or industrial units do not have any special risks insurance. There’re numerous examples like these.

A commercial business insurance broker can conduct thorough analysis of a business’s operations, revenue streams, applicable laws, exposures etc. and recommend the different type of insurance coverage and the most appropriate insurers for each. 

General advice Disclaimer

This Blog contains general advice only. It has been prepared without taking into account your particular objectives, financial situation or needs. Before acting on the advice, you should consider the appropriateness of the advice, having regard to your objectives, financial situation and needs.

Smart Business Insurance (this Company) and the Blog authors makes no representations or warranties with respect to this Blog or its contents.

This Company does not warrant that the information on this Blog is accurate, complete or current.

Please click here to for the complete disclaimer details.

Why Businesses Need an Insurance Broker

Expect the unexpected in the world of business. And as a business owner it’s smart to be prepared to deal with anything from a sagging economy, diminishing margins and losses due to unexpected calamities. That’s why a risk management strategy is a must for every business operating in today’s volatile Australian market.

You need SMART Business Insurance and NOT just any Business Insurance

Having smart business insurance cover can go a long way tokeeping your business’s financial health in good shape as you confrontsome unexpected and damaging hits. With the right business insurance, your business can be protected against claims that may otherwise severely impact on its profitability or even viability. But, how do you make sure you have signed up for the RIGHT business insurance? If you’re not a business insurance expert, how do you know you are achieving optimum protection at a competitive price? Well, that’s where insurance brokers come into the picture!

Insurance Brokers can help you Choose the Best Cover

Risk - Profit and Loss As a business insurance broker, we study the nature of your business and prepare your risk profile to determine the kind and amount of cover you require. Expert insurance brokers take into account everything from the reputation of the insurance company under consideration to the costs involved, and the detailed terms and conditions. Since brokers work for you and not insurers they can assist you in finding the most suitable policy for your business.

Benefits A Business Insurance Broker Provides

  1. Smart insurance brokers provide a friendly and professional service for small, medium and large businesses by providing them with guidance on choosing the right business insurance cover wherever they are in Australia.
  2. When the unexpected occurs, as it often does, brokers can provide much needed assistance for insurance claims. It’s a fact that a large number of CLAIMS get accepted or rejected depending upon on the documentation and evidence provided.
  3. Specialist business insurance brokers can provide you with expert risk management advice based on the kind of business you’re in based on thecase history they have access to in the Australian business insurance industry.
  4. Policy wording can be complicated for even experienced business owners and executives. Understanding excesses and exclusions in a policy requires not just formal training in the field but also years of hands-on job experience. With an insurance broker, they can assist you by carefully reviewing important clauses, exclusionsor excesses.
  5. Brokers have access to dozens of insurers and they are able to compare the fine detail of each product in Australia. They can provide you information ona number of products based on your business’s risk profile and recommend the one that best meets your needs.

At SMART Business Insurance, we adhere to a standard Brokers Code of Practice and help each one of our clients choose the optimum possible business insurance cover. We’d like to hear from you in case you wish to buy business insurance. Call us today for a non obligatory discussion at 1300 542 573 or enquiries@smartinsure.com.au

General advice Disclaimer

This Blog contains general advice only. It has been prepared without taking into account your particular objectives, financial situation or needs. Before acting on the advice, you should consider the appropriateness of the advice, having regard to your objectives, financial situation and needs.

Smart Business Insurance (this Company) and the Blog authors makes no representations or warranties with respect to this Blog or its contents.

This Company does not warrant that the information on this Blog is accurate, complete or current.

Please click here to for the complete disclaimer details.