Australian Immigration Daily News

The new year is well and truly in full swing and hopefully by now you have your savings plan bedded down and underway for the year! Onto that goal! To help you on your way we are going to provide some tips on getting the best value for your business insurance.

Make sure you're covered!

Always check your insurance cover levels to see whether you have the right levels of cover! Importantly know that it’s not a good idea to reduce cover just to save money (being under-insured could cost you a lot more in the long run). If your business has changed you could be over insured.  Changes are based on a whole host of things – growth, changing stock types, levels and cover. On the flip side if your business has grown you could be underinsured - whilst you might be making a saving today, if you need to make a claim in the future and you don’t have enough cover, you could be in financial hot water!  

Do a clean up on your policies and check your details

Always check the details of your policy match your business today – you may be able to make a saving if you have downsized your team or you are earning less money. Also if you are no longer doing certain business activities – you may be able to take them off your insurance policy.

Pay wisely

Be sure to check out the payment options available as there could well be savings to be had by paying annually upfront.  Balance this with the advantage of paying a bit more for monthly payments to help manage your cash flow and free up cash for the rest of your business.

It pays to shop smartly

Good value means having the right levels of cover  as well as saving $$$ on your insurance because when it comes to making a claim having enough insurance could mean the difference between staying in business or going out of business

It’s important for Migration agents to get the best value on your insurance is important. BizCover shows you how you can make savings and pay wisely.