Case Studies

The importance of having the correct business insurance policy in place

Prior to becoming a client of ours, an advertising company had always sourced their business insurance directly from an insurance company. They believed they were adequately insured, but discovered they only had cover for their work premises – whereas much of their work was conducted off site. The gap had become apparent when a client of theirs asked for confirmation of their insurance cover as part of a contract they were putting together.

The advertising company approached their insurance company to arrange the needed cover, however the representative of the insurance company indicated they were unwilling to review the contract requirements. The advertising company was subsequently recommended to BusinessInsurance. We were able to review the nature of their business and the proposed contract, and advise them that they needed more than the ‘Office Risk’ cover they previously had. We shopped around on their behalf and found a competitively priced, well-worded ‘Business Risk’ cover that insures them for activities conducted off site.

This example demonstrates that an insurance company may not ask searching questions to correctly identify the type of cover you need to protect your business adequately. As an experienced insurance broker, we have decades of experience in guiding and advising businesses about the type and scope of insurance we recommend they have.

We helped save our clients thousands of dollars…

A client was referred to us who ran a business as an importer and distributor of goods. At the time, they held business insurance cover directly through an insurance company. They also owned the building in which the business operated, and they had separate property insurance cover with another insurance company.

We looked at their situation, and found that by bundling up their cover with one insurance company, the client was able to save several thousands of dollars a year in premiums.

Reducing the settlement sting

A client of ours received a letter of demand recently, that related to an incident that had occurred six years before. Our client – a builder – had been working on a property at the time, and was unaware that a neighbour had submitted a damage claim to their insurance company. The insurance company paid the claim, and subsequently sought to reclaim the damages from our client. The letter of demand sought $26,000 in damages, however with our help, we were able to reduce that sum down to $7,000, which was paid out under our client’s Contract Works Liability Cover.

Contact us today for expert advice to gain the right insurance cover for your business, at a competitive price.