Having adequate insurance cover is one of the most fundamental requirements of being in business. It provides invaluable protection against a range of risk events, reducing financial uncertainty and protecting both your own livelihood and that of your workforce.
With that being the case, it’s amazing that the 2016 Vero Insurance Index revealed many business owners were underinsured and didn’t even know it. According to the Index, a staggering 80% of SMEs who ranked ‘being unable to trade’ as one of their top concerns, said they did not have business interruption insurance.
You have a lot to protect. From assets such as buildings, plant and machinery, contents, stock and customer goods, to your business income and legal liabilities. It is important you choose a level of cover that is sufficient. If you are underinsured, there is a chance that Insurers will not pay out in full on any claims.
It is essential that you review your Sums Insured and policy coverage regularly, especially if there has been significant change in your business. Insurance is something we all hope we never need – but for peace of mind, having the right insurance in place for you and your business is vital.
At O2 Insurance Services we want clients to feel secure and have a range of tools and services available to assist in making sure they are covered adequately. Don’t wait until it’s too late!
Director, o2 Insurance Services Pty Ltd
0417 540 177