Commercial Insurance generally relates to all other business activities not specifically addressed under a more specialised cover.
Depending on your asset values, a Commercial Business Insurance Package may be the most suitable for you. Be careful though, there can be up to 16 policy sections that you need to consider and work through if they are appropriate to your business. Multiply this by say 6 major Insurer's and you're dealing with a lot of options.
The alternative may be an Industrial Special Risk (ISR) cover that only has two sections. Two sections may sound a lot easier however, there are numerous policy altering clauses that can be added to tailor your program.
As a business owner or CEO, you know your business. Rely on Professionals such as Inspired Insurance Services to assist you with your insurance requirements. Have your insurances reviewed today! We have the knowledge, experience, qualifications and resources to be an asset to your business.
Despite what people may say, everyone enjoys shopping! It's how we define shopping that matters. Many happy males are seen in electrical outlets looking at the latest big screen or surround sound, or automotive stores searching for the latest car gadget. Many ladies enjoy fashion and homeware outlets. So why is retail insurance different?
Retail outlets are generally asset high. That is, you carry considerable stock. This may be on display, or being stored on shelves out of sight or warehoused at a different location. There is a higher risk of liability claims simply due to the quantity of customers coming through your doors. You may operate from within a shopping centre or a strip of retail shops. The big concern is a small happening can cause large loss.
To understand the risks with retail, a small fire can very quickly develop into a large fire due to quantity of stock or how it is stored. An electrical outlet lost almost all of their stock when a small fire triggered the sprinkler system which in turn water damaged everything. Another consideration is your loss of income. If you can't sell, how do you earn? With no earnings, how do you cover your financial commitments?
If you are uncertain or can't answer these simple questions, you should be talking to Inspired Insurance Services.
Professional Insurance is directed to the business occupations that are predominantly office based. This may be Accountants, Solicitors, Financial Planners, Surveyors, Consultants, Real Estate Agents to name only a few.
Insurance understands that the primary risks are associated with your office environment. This is why the tailored Professional Insurance programs have a number of benefits automatically included and numerous sub limits within the policy that are generally higher than a standard Commercial Business Insurance program.
Insurer's understand that there is less chance of something going wrong within an office environment and the insurance cost reflect this. There is a larger risk associated with many of the Liability covers such as Public/Product Liability, Professional Indemnity, Directors & Officers or Employment Practices covers.
If you're not sure that you have the right program in place, call us and request a review today.
Motor Trade Insurance
Many of the Motor Trade occupations involve driving or moving your client's vehicles. This is the big standout difference in Motor Trade Insurance. You have a responsibility to care for your client's vehicle while on your premises even overnight or while you are driving it.
Specialised insurance programs address these additional risks. You can be covered for damage you cause to your client's vehicle while moving it around a workshop or while test driving it after repairs have been completed.
Sample business occupations include mechanical repairers, panel beaters/spray painters, auto electricians and audio/communication installers.
Your trade is your profession and your profession may take you anywhere. Many trades are predominantly small business owners and involved in constructions trades. Electricians, plumbers, carpenters, brick layers, pavers, landscapers, painters are just some of these.
With most trades, you may work at a different location each day. You have your own specific risks such as to your vehicle that you travel in, your tools of trade that go with you and your liability to others both while you are working and after the work has been completed.
Trade insurance is not necessarily straight forward and should never be thought of as simple. If you're not getting the attention you should be, then contact us today. We take the time to understand your business, your risks and your requirements designing a program specifically for you.