Did you last review your business insurance last year? Last month? Or maybe you never did…
Having adequate business insurance can literally save your life.
Now, let’s talk about why you should review your business insurance right now.
When we talk about risk, we talk about how to mitigate risk. Some of the most efficient risk mitigation factors is having great insurance.
Have you heard about that tragic incident about the Australian family whose child drowned while they were on holiday in Indonesia? They thought their insurance would cover getting their child airlifted back to Australia. Sadly, it didn’t.
Fortunately, after finding out about their tragic story, a group of kind people pulled their hearts out and donated to their crowdfunding appeal in order to help them bring their child back to Australia.
We can learn from this situation…
Here are a few useful questions you can ask yourself in order to make sure you have adequate insurance:
- Are you really covered, or do you just think you’re covered?
- Have you got adequate protection if something happens to you in terms of work incompetence?
- Do you have enough money to pay the mortgage if something happens to you and you’re unable to work for a while?
- If something happens to you, is there enough money for your partner and children to get by?
In order to make sure you and your family are safe in the event that something might happen to you in the future, you need to evaluate all your insurance, including your business insurance, car insurance, life insurance, property insurance and even your travel insurance.
Ignore none of your insurance policies. Make sure you review them all.
You might also be interested in: Personal Insurance 101
Why should you review all your insurance policies?
Every year Australians are underinsured and they don’t even know it. I don’t want you to be one of those people.
Your situation can change in an instant. That’s just how life is, unpredictable.
One thing you can do about life’s unpredictability is ensuring it doesn’t catch you off-guard when it comes to your insurance protection. Having an adequate insurance can save you and your family from a lot of stress and headache down the road.
Don’t leave your family unprotected if something were to happen to you. Make sure you protect the significant people in your life.
Just think about it this way: if something happens to you, you might not have to deal with it, but your loved ones will.
It’s a hard topic, I know. But make a decision today to make sure your family and business will have a better tomorrow.
Go and make sure all your insurances are up to date!
You might also be interested in: Asset Protection: What’s The Worst That Can Happen?
It’s time to review your business insurance
Take the best possible decision for you and your family by reviewing all your insurance policies.
I would love to help guide you through this process. Let’s get in touch now.
Latest posts by Andrew Jeffers CEO (see all)
- April 2018 Tax And Accounting News: All You Need To Know - May 4, 2018
- Nikkiady Arief: Accountant of the Future - May 3, 2018
- EOFY Checklist for Small Business Owners - April 30, 2018