Preparing for your insurance renewal in advance can save you time and money. As these are the two core needs of any business, we have put together some things to consider in advance, when you are next due to call your expert Austbrokers Canberra Insurance broker.
Changes to staffing
Have you taken on anyone new? Did someone leave the business? Have you expanded or closed an area? Are any of your staff phasing into retirement? Do you now employ interns? Ensuring we have details on changes as they happen, is the best way to ensure you are adequately covered. Before your renewal conversation, be sure to have an accurate list of your current staffing requirements.
Details on your vehicles
Does your business own a company car? Perhaps even a small fleet? Ensure we at Austbrokers Canberra are aware of any changes to your work cars, so our expert brokers can best protect them. Whether a vehicle has incurred damage, you are using your company car differently, or you plan to expand your collection, letting us know at your renewal will secure the most appropriate cover for your business needs. During your conversation with your expert Austbrokers Canberra broker, also let us know if you have fitted any security devices your vehicle/s. If you have decided to fit immobilisers or alarms to your vehicle/s, your premiums may benefit.
Changes in your business delivery
Are you seeing more clients offsite? Do your staff now spend the majority of their time in a dedicated office? Are any of your staff currently working from home? Are you delivering new services or expanding your business? The workforce is changing and if any of these considerations have changed in the past year, they can have an impact on your insurance needs and premiums. Be sure to inform us if your business delivery has changed in the past 12 months.
Online presence, payments and databases
With technological advances being made almost by the minute in the current climate, a major area your business needs to consider is how it functions with the internet. Are you storing customer information in a CRM? Do you keep your documents in a ‘cloud’ storage device? Do you take payments through an online service? A thorough and detailed account of how your business uses online facilities will help Austbrokers Canberra find the best cyber insurance options for your business needs.
Security for your contents
Do you have a large amount of contents or high value items? If you have accumulated more items requiring insurance, be sure to document how they are stored. Locks on doors and windows can be a requirement of some insurance companies. Be sure to inform your Austbrokers Canberra broker of how and where your valuable items are stored and if this has changed since the previous year.
Prepare in advance
Change is a natural part of running any business. Leaving preparation up until the point of renewal can put your business at risk of higher premiums, or worse, underinsurance. Be sure to look into your insurance options well before your renewal date. We will contact you regarding your renewals well in advance of the due date, so keeping this information handy can save you and your business time, effort and money.
Of course, if you need assistance in preparing for your annual review, please feel free to contact us. Our expert brokers are more than happy to answer your questions and guide you through the information needed for your review.
