Why It Is Business Insurance Time |
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23 July - When your entire fleet of 15 trucks are all parked in the basement of your building which suddenly collapses, you know you are going to need business insurance. You always thought the food in the canteen was a little dodgy, but when one sunny day 50% of your staff are booked off for a week with food poisoning, you are really going wish you some form of business insurance. The question is what do you need to insure and at what cost. The business owner can insure himself from anything from loss of income or assets to staff absenteeism. It could also include something as simple as car insurance or cover in case of theft. And it can cost anything from a couple of hundred rand to hundreds of thousands of rand depending on the risk involved. Before deciding what insurance is needed, it is best to take a critical look at your business and decide where insurance is most needed and at what cost. A small firm of lawyers will most likely need some sort of professional liability cover in case one of the partners are unable to continue working in the profession. But insuring against natural disasters probably would not be high on their list of priorities. Imagine finding out your company here in (usually) temperate South Africa is paying R20 000 a year in insurance for snow damage. It is also worth noting that some companies specialize in, say car insurance, while others may offer more specialized products. It therefore best to enlist the services of an expert who could best advise you what to insure and at what cost. We recommend you try an online financial advisor such as Finance In Motion (http://www.fim.co.za) for questions of that nature. Related Insurance Articles: * Tips for Decreasing Insurance Payments * Life Insurance Or Funeral Insurance - An Investigation * How To Find The Right Financial Advisor * South African Holiday Insurance Tips * Why it is Important to Insure your Cell Phone * SA Home Insurance Hints * How to Recognise Bad Insurance Companies 
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| 2/22/2011 3:54:22 PM | |||||||||||||||||||||
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