It is particularly important for small business owners to be careful when evaluating their business insurance needs because of the more personal financial exposure in the event of a loss. This is why utilising a broker can be so beneficial. The brokers at PSC Direct will work closely with you to provide a comprehensive insurance pack to meet your unique needs. Business Insurance can help your company survive the unexpected, with minimum losses.
What is Business Pack Insurance?
Business Pack Insurance provides a wide range of insurance protection for your business and lets you tailor the cover to suit your company’s specific needs.
The coverage you receive from Business Pack Insurance can protect companies from losses that may occur due to unforeseen events during the normal course of business. There are many types of insurance for businesses including coverage for property damage, legal liability and employee-related risks, the brokers at PSC Direct can package these policies into a Business Pack Insurance policy tailored to your needs.
Business Pack Insurance can help your company survive the unexpected, with minimum losses.
NOT SURE WHAT INSURANCE YOU NEED? GET HELP From An Insurance Expert:
Our Insurance Partners
Our systems do the hard work, quickly matching the insurance that best suits your business.
We do all the hard work analysing insurance policies and their covers to match them against your business risks and needs.
Our expertise insuring thousands of businesses means we know the questions to ask you.
We find the right insurance for your needs and because we operate online we have lower costs to pass more savings on to you.
You can access and update your information at any time of the day and night, when it suits you most.
What are the Specific Risks that a Business Pack Insurance Policy May Cover?
Business owners are constantly exposed to a certain level of risk in today’s volatile business environment. These risk are diverse and constant, making it difficult to find a single policy which will protect you, which is why a Business Pack Insurance policy that bundles multiple covers into a single, easy package can be so beneficial. When an unforeseen event negatively impacts your business, PSC Direct brokers can ensure you have a comprehensive risk management strategy in place in order to increase your business’ chance of survival.
PSC Direct brokers know how important it is to understand the specific risks facing your business so that you can put an effective risk management strategy in place. Some examples of risks experienced by many SMEs today include:
- Financial Risk: The risk of achieving a lower than expected ROI or losing an investment.
- Currency Risk: The risk of a payment or investment losing value due to fluctuations in currency.
- Credit Risk: The risk of not obtaining compensation for goods sold on credit.
- Security Risk: The risk of of fraud, theft, embezzlement, or misdirection of funds.
- Property Risk: The risk of loss of or damage to business property as a result of flood, fire, storms or earthquakes.
- Legal Risk: The risk of customers, suppliers, employees, competitors, investors, or other parties threatening legal action.
- Technology Risk: The risk of misuse or breach of company IT systems.
What Are the Key Elements of a Business Pack Insurance Policy?
You need a Business Insurance Pack that addresses the specifics of your business. Depending on your industry and individual needs, appropriate cover for your business may include:
- Commercial Property Insurance: Property Insurance covers damage to buildings, contents and stock in the event of fire, perils and other accidental damage.
- Business Interruption Insurance: Business interruption insurance protects your company in the event of disruption to your business after an insured loss.
- Theft and Money: Covers businesses in the case of theft of business contents or stock, as well as theft of business funds.
- Glass: Protects your business against the costs incurred as a result of the breakage of internal and external glass and signs.
- Public Liability: Covers your legal liability to pay compensation for personal injury or property damage that is deemed to be the result of your business’ actions.
- Computers and Electronic Equipment: Covers theft, fire, accidental damage, breakdown of computers and electronic equipment.
- Tax Audit: Covers your business for professional accounting fees that arise from an audit conducted by the Australian Taxation Office (ATO) or any other Australian (Federal, State or Territory) government agency.
Insurance is protection for the unexpected. Without adequate insurance cover, a workplace accident, major natural disaster, serious injury or an extended court case could leave your business facing a huge financial burden or even the inability to continue operations.
Who Needs Business Pack Insurance?
Business insurance is important for all SMEs across Australia. There are some types of insurance that are mandatory for all Australian businesses to have in place under certain situations. PSC Direct brokers know these necessities and can ensure you are meeting all Australian business insurance requirements. For example, in the case that you have employees, you must take out workers compensation insurance to protect your employees in the event of an accident or sickness. In addition, in the case that you have a business motor vehicle, you must pay for minimum third party personal injury insurance (please note that depending on your state, this may be included in your vehicle registration fee). Certain types of companies are also required to take out public liability insurance.
Even if it’s not compulsory for your business, you should consider insuring your assets, revenue, and liabilities to protect your company against potential risks. Our brokers can talk you through all these complex policies and neatly package them for your business.
How PSC Direct Works for You
As specialist small business insurance brokers, PSC Direct uses our considerable experience to provide multiple quotes for you. Combining our expertise insuring thousands of other similar businesses with our detailed database of insurers and insurance products; we’re best placed to advise you on the right insurance for your business.
We have strong relationships with the leading underwriting agencies and insurance companies. We can source the most appropriate business insurance policy for you, covering you for what you really need, at the right price.
We can help sole practitioners, small, medium and large businesses protect the businesses you are growing and ensure your assets are covered in the event that disaster strikes.
With our strong relationships to a broad range of highly-rated insurers we are able to advise you on business insurance, professional indemnity insurance, and public liability insurance specifically tailored to meet the risk exposure of your business.
We can also provide advice on a range of additional insurance policies and cover that can affect your business and make sure you have the right insurance at the right price.
- 72% of Australian businesses fail after experiencing a major loss.
The right business insurance will ensure you are not one of them.
While good insurance covers you for most things – Professional Indemnity, Professional Liability and Property, great insurance covers you for the specific risks that your business faces. We understand that every business is unique and you need a policy that addresses the specifics. We make sure that when you have a claim that’s out of the ordinary and complicated, you’re covered.