As a business owner it’s important to keep in mind that there may be unforeseen events that come up when least expected that may affect the operations of your business.
It’s for this reason that getting business insurance is important. Even more important is making sure that you get affordable business insurance.
As South Africa’s largest short-term insurer, Santam pays out more money in claims that any other insurer. The institution has also created an interactive tool to help highlight the different types of risk your business could potentially face.
Types of events covered by business insurance include:
Business interruption, electronic equipment, public liability, fire, business all risk, money, accidental damage, theft by employee and cover for office contents.
All of these events could have adverse effects on business functioning, so it helps to be prepared. Having business insurance protects you from potential financial ruin.
How to get affordable business insurance:
It’s important to compare quotes, bundle policies and to manage your risks. By comparing quotes from many different insurance providers, you can make sure that you get the right type of business insurance cover for your unique business needs. Bundling policies has proven to be a highly effective way of lowering insurance premiums, so this is one way of getting affordable business insurance.
Make sure that your business insurance policy offers enough protection for your business.
Keep in mind that it’s important to consider inclusions and exclusions, policy limits and deductibles.
The type of business insurance cover that you do get should ideally be tailor-made to suit the unique needs of your business. Affordable business cover should not leave out any important factors, but should provide adequate cover for your unique business needs.
Insurers shouldn’t make any assumptions about you or your business. Make sure that you are clear about the exact type of cover your business needs.
There shouldn’t be any hidden costs involved.