What Is Insurance?

What Is Insurance

Insurance is the key to your peace of mind.

Life, and business in particular, is full of risks. Unexpected events can really set you back, which is why it is so important to secure Insurance to help protect you and the things you value most in the unfortunate case of a mishap.

What Is Insurance – A Definition

Insurance is a risk-transfer mechanism that ensures full or partial financial compensation for the loss or damage caused by events outside of the control of the insured party.

Insurance policies are the contracts taken out by third-parties (insurers) to protect you or your business against specific risks under agreed terms. These policies can protect your valued items against the financial impact of risks, big or small. The risks covered by an insurance policy can range from fires, floods, storms & earthquakes, to theft, car accidents, and misfortunes whilst traveling and even from the costs of legal action taken against you.

What Is Insurance For?

Life is full of risk. Some we choose to manage ourselves, but others, particularly those that have a large financial risk, we protect ourselves with insurance. So, what is insurance? It is the transfer of risk to a third party.

You have the flexibility to choose the types of risks you wish to be covered for by choosing the right kind of policy, with the features you need. After determining what you want to cover, you can secure a policy and make regular payments, known as premiums, to your insurer. If you then find yourself in a position where you need to make a claim, your insurer will pay out for any loss that is covered under your policy.
To make this tricky process more simple and secure for yourself we recommend you utilise the services of our PSC Direct insurance brokers.

The Benefits Of An Insurance Broker:

An insurance broker can assist you in finding a policy that has all the inclusions you require. An insurance broker acts as an intermediary between yourself and your insurer. They can help determine what risks you need covered and the most suitable policy for your circumstance. Additionally, if you find yourself in the unfortunate situation of needing to make a claim, your insurance broker will negotiate with the insurer for you and sort out the claim. Having an insurance broker on your side can provide you with even greater piece of mind in you coverage.

Additionally, while it is a good idea to make sure you are not paying for insurance that you don’t need, it is essential that you always think about what would happen if disaster did strike and you didn’t have cover to protect you. PSC Direct insurance brokers will do their best to provide you with the best fit cover for your unique situation and help you through the stressful claims process.

At PSC Direct we know that your investment in your business goes beyond money and equipment. In setting up your company we know you have also invested your hopes, dreams, time and savings as well as the livelihoods of yourself, your family and your employees. That’s why we want to ensure that if something unfortunate happens; you are not devastated by the outcome.