Don't let your insurance coverage be risky business
(NC) Running a small-to-medium sized business can be a time-consuming and a risky endeavour. As owners invest time, resources, and energy into building their vision, it can be easy to overlook the importance of obtaining the right insurance coverage. Although it may be tempting to take a shortcut by buying insurance online, it's rare that a website can give you the level of assistance required forsuch a vital business decision. Instead, say observers in this field, consider working with an expert.
Here are some of the most important ways a broker can take the guesswork out of choosing the best commercial insurance:
Risk management knowledge and expertise – A broker brings a wealth of client experience and insurance expertise to help plan and mitigate risks you may have never considered. Proper risk management will play a critical role in supporting growth, expansion and sustainability of the business. For something this crucial, don't underestimate the value of expert advice.
Greater efficiency – An insurance broker has a clear understanding of the insurance market and will have access to a wide variety of competitive rates and types of coverage available. Using this information, a broker can help you choose the option that best suits both your needs and your budget.
Coverage should be tailored to your needs – Unlike the Internet, a commercial insurance broker can have a real conversation with you to better understand your particular business needs and future plans. As your company grows, a good broker can see you through each phase of your business' growth and help you decide when it's time to change coverage or even insurers.
Time is of the essence – Small-to-medium sized business owners are frequently stretched very thin, so it's imperative to economize on time. A commercial insurance broker plays an important role to achieve this.
“Let an expert spend the time looking for the right coverage with the right insurer so you can focus totally on growing your business,” says Tony Hayes, the vice president of sales and marketing at RSA Insurance. More information is available online at rsabroker.ca/find-a-broker.
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