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Cover Up: The Importance Of Insurance For Every Situation

Why an Insurance Broker is Better than a Comparison Website

Posted by on Nov 2, 2015 in Uncategorized | Comments Off on Why an Insurance Broker is Better than a Comparison Website

People shop for insurance providers in two main ways. Some visit insurance price comparison websites while others contact insurance brokers. This article discusses why it may be better for you to choose an insurance broker over a comparison website. Provision of Regulated Advice Many jurisdictions have institutions that oversee and regulate the activities of insurance brokers. Such regulatory bodies help to ensure that insurance brokers provide advice that is in the best interest of the client. Price comparison websites may not fall under the jurisdiction of such regulatory bodies, so you are at a higher risk of being misled if you make a decision based on their advice. Would you rather take that risk, or hire a broker who is bound to provide the best professional advice? Identification of Custom Products Price comparison websites provide information on generic insurance policies. For instance, they will give you the rates charged by different companies that can insure your goods while they are in transit. However, an insurance company that specialises in insuring particular items (such as antiques) may serve you better. An insurance broker may be in a better position to refer you to a company that has experience in designing policies for such special situations. Explanation of Policy Contents Many laypeople may not be able to understand the insurance jargon used in insurance policy documents. An insurance broker helps such clients by explaining the contents of the policy. Such explanations can help you to make an informed decision on whether to purchase the policy, or not. Price comparison websites may not offer the same kind of detailed explanation of policy terms that a client needs in order to understand whether a given policy is the best for him or her. Exploration of All Factors Price comparison websites emphasise price when generating results for a person who has requested for a comparison of different insurance companies. This emphasis of price can lead some insurance companies into ‘stripping’ a policy in order to appear very competitive, as a study discovered. This denies the client an opportunity to explore all factors that may affect his or her cover (such as the exclusions to a policy). An insurance broker asks you to explain what your needs are, and then he or she makes recommendations of which policies may meet those needs. As you can see, it may not be wise for you to think that you will save by not engaging an insurance broker, such as those at Ian Hewitt & Associates. This professional will provide invaluable expertise that will save you money in the...

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Key Benefits Of Having Business Insurance

Posted by on Apr 21, 2015 in Uncategorized | 0 comments

Some business owners can think that having business insurance is the preserve of established companies or think that is it something they can do without. This is a major mistake, as there are business insurances that can be tailored and adapted to the individual business. Although it can be a little expensive to have proper business insurance, think of it this way: if you pay premiums for years to be covered by insurance, it is likely that just one payout from the insurance will more than cover the premiums. Let’s look at some key benefits of having business insurance. Protects Against Massive Loss Many businesses suffer catastrophic losses due to hurricanes, floods or fires occurring. For a business without proper insurance, this often means permanent closure. For a business that has the proper insurance, the closure will be temporary, and the business can reopen once it has recovered. Furthermore, some insurance companies offer an interruption insurance; this insurance will provide a business with a cash flow while the business is closed due to one of these natural disasters. Pays for Litigation It is a bit of a cliché to say that we live in a litigious world. Sadly, however, it is very true. People and other companies seek reimbursement for all kinds of things in today’s society. Even the most frivolous litigation cases can be costly for a business to defend against, and that is without considering if the other party is successful. In many cases, the award given to a party seeking reimbursement will far exceed the ability of a business to pay. From here, business (and even personal) assets start to become at risk, as they may have to be sold off in order to meet the costs. Business insurance will usually meet a good part of these costs; in many cases, they will cover the cost of the whole award. Replaces any Goods After a Theft Businesses that have just been formed or businesses that have recently upgraded their equipment may become the target for intruders and thieves. For these people, all that they see when looking at new computers or high tech equipment is some quick and easy cash. If this does happen, proper business insurance will not only cover the cost of replacing these expensive items, in many cases, they will also pay for the damage caused when the intruders broke their way into the business. Business insurance is so important, that it should be budgeted into the outgoings of a new business. It can be the difference between a company closing and a company remaining...

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