Are you covered where it counts?
According to recent research, over half of all UK businesses could be underinsured*. The same research suggests that millions of firms do not have adequate cover for elements like Employers Liability Insurance meaning they could be breaking the law and leaving themselves open to pay thousands of pounds in fines.
The FSB Insurance Service offer the following handy hints:
- Take the time to understand your policy and any jargon you don’t understand.
- Don’t be afraid to ask questions. For example do you know what Business Interruption or Goods in Transit really means for your business?
- Check and double check the levels of cover you have. A good insurance provider will be happy to explain, and won’t want to put down the phone until they are sure you understand what you are paying for.
- Check the assumptions made against your business. These can often be hidden away in small print when you buy over the phone. Do any of them apply to you?
- Speak to your insurance provider if something changes in your business. Have you taken on staff or has your turnover increased?
- Seek some independent advice from Towergate Insurance. Their teams are business specialists with access to over 200 products.
- Challenge the FSB Insurance Service to find you a better deal on your insurance before you renew. Not just on price but quality of cover as well.
Call them on 0345 762 6158