As times goes on, it is possible to become jaded and not sure that the direction you are taking is leading to the destination you want to arrive at.
Often we are thrust into a place where we are uncomfortable add the feeling of being unsettled is not a pleasant one.
There are choices to be made throughout life; brown bread or white; car or walk, sugar or not.
And we can change our mind quite easily and it well, it really doesn’t matter that much.
But there are certain areas in our life where our decisions can have a great impact on how things turn out for us, if other things happen. White bread will be fine for the odd sandwich, but if it is all you eat, you are not going to live a long and healthy life.
Turning to insurance, you can buy an insurance policy from anyone authorised to sell that product. You can be safe in the knowledge and belief that if the peril listed happens, then you will be paid in line with the cover arranged. It is as simple as that. Or is it?
As vital as insurance is to any business, it can be an expensive piece of paper if it is not arranged correctly.
A company might have insurance relevant to every aspect of its operations, but if you don’t fully understand the implications of the terms, conditions and warranties, you could still be left exposed.
So, take that policy and examine it, read every word and make sure you know what is covered and make allowances for anything that falls outside the policy coverage, for no insurance policy can cover everything – the cost would be understandably prohibitive. If your advisor doesn’t talk about what is not covered ask yourself why? If this is the case, then in the event of a claim or an incident that could give rise to one, one that is going to cost you money and inconvenience, I expect you will have the uncomfortable feeling again, the one where you are not sure what is going to happen next. Too late to click refresh and go back to the insurance meeting where you discussed in detail the merits of obtaining the right cover and what would happen if a claim arose. The water is gushing through the ceiling, the folding machine so essential to your business is damaged and not working, with no replacement available for three months and orders piling up, employees unhappy, management scratching their heads and you in charge of the company, but not in charge of the elements which caused the flood.
Now is the time when that insurance policy needs to kick in and come to the rescue.
Now is the time to pull the insurance policy out of the filing cabinet and start reading the clauses and conditions so fundamental to understanding how the policy will react to the losses you are suffering.
There is a better way.
With an insurance broker to look after you, you can however be in a position of strength, you can turn to them to appoint a Loss Assessor and Loss Adjuster and with the assistance of the might of a strong insurer to fund the delivery of resources and ensure your business recovers swiftly and grows again.
It sounds simple and I know it will be a time fraught with difficulties, but if you make the right choices early on in the insurance provider selection and insurance advisor, there is no reason why you need panic.
Measured delivery of a planned reinstatement and recovery to where you were before is what you expect and deserve.
For this you need an experienced broker who knows and understands your business and can relate what could and would affect your business into a risk management and insurance programme to deal with those problems.
For more information on how I can help you contact me and I wall put you on the path to enlightenment and peace.
For an independent look over your shoulder, get in touch.
Call Richard or myself for more information and a quotation…
Graham Wedgbury ACII 07854 174 674
Richard Bellenger 07812 363076
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