It’s impossible to predict or prevent every type of loss event. But you can manage the risks in your business with these important steps.
MAINTAIN YOUR PREMISES
Regularly inspect your premises and address any potential issues or hazards before they become serious. For example, if you have an outside deck on your business premises, check that it’s slip-proof and install the proper safety rails to prevent injury by workers or customers. If a certain area of your building or property needs repair or an upgrade, it is always important to address this as soon as possible to reduce your liability.
IMPLEMENT AND FOLLOW SAFETY PROTOCOLS
Make sure that staff are trained and held accountable for following safety procedures. Having regular drills and reviews of safety procedures will help to minimise any risks of injury or accidents on the job.
It is advisable to invest in additional safety equipment, such as fire extinguishers, smoke detectors, alarms and security cameras. Not only do these safety protect you and your premises, they are taken into account by insurers and will reduce your insurance premiums.
By taking these proactive steps, you can significantly reduce the likelihood of experiencing a loss or insurance claim.
Also read: What are the Most Common Claims Made Against Businesses in Perth?
MAINTAIN PROPER DOCUMENTATION
It is essential to keep and maintain a record of your business’s documents. This includes making sure that all contracts, financials, valuations and indemnity forms are kept on record and securely filed away. These will support your case and assist your insurance broker in the event of a claim.
BY YOUR SIDE AT CLAIM TIME
At some stage, virtually every Australian business will need to make a claim on their insurance. The simple law of averages suggests the longer you’re in business, the more likely it becomes. But regardless of how experienced you are, when a major loss happens, it can be a highly stressful time, filled with doubts, business disruptions and questions. The solution is to seek the help of an insurance adviser, a highly experienced professional who knows the ins and outs of the insurance industry.
Fortunately, it’s also the time when having a trusted insurance adviser like Westside Insurance Specialists can pay the greatest dividends of all. We’re experts at navigating even the most complex of business claims. Working as your advocate, we’ll stand by your side at every stage, personally guiding you through the claims process to ensure you get the best possible outcome for your business and minimise disruption.
Important Information
This communication including any weblinks or attachments is for information purposes only. It is not a recommendation or opinion, your personal or individual objectives, financial situation or needs have not been taken into account. This communication is not intended to constitute personal advice.
We strongly recommend that you consider the suitability of this information, in respect of your own personal objectives, financial situation and needs before acting on it. This document is also not a Product Disclosure Statement (PDS) or a policy wording, nor is it a summary of a particular product’s features or terms of any insurance product. If you are interested in discussing this information or acquiring an insurance product, you should contact your insurance adviser to obtain and carefully consider any relevant PDS or policy wording before deciding whether to purchase any insurance product.
