tips to save on your business insurance

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Tips to Help you Save Money on Your Business

Insurance

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Two types of business insurance cover you need to

consider


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1. Optional insurance cover

2. Mandatory insurance cover


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Always consult with a business

insurance broker to ensure you get

the right cover for your business and

industry.


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To save money on your business

insurance cover, you should:


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1. Get a business insurance

broker to shop around for you and

compare quotes from insurance

companies


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BECAUSE: Insurance Brokers who are registered with the

National Insurance Brokers Association (or NIBA) are duty

bound by its Code of Conduct to place their clients' interests

first and to provide them with superior service and advice.


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2. Reduce the risk to your company

by making some changes at your

business before you get insurance

quotes


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BECAUSE: The more “risky” type of

insurance you need, the more cost. (eg. Get

an alarm installed, with security cameras)

Ask your broker for more suggestions on

how you could reduce your current risk.1300 776 346 www.profin.com.au

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3. Specify how long you have been in business


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BECAUSE: The longer you have been in business,

the lower your insurance premiums may be (with

most insurers) - be sure to ask your Broker if

he/she has taken the length of time you have been

in business into account.


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4. Don’t always go for the cheapest level of cover


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BECAUSE: The cheapest premium, may mean low

or inadequate cover. Get your broker to

breakdown for you exactly what you are covered

for, and how much.


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AND Insurance Brokers are bound to disclose all

fees charged and (on request) the amount of any

commission received and what effect it will have on

the premium.


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