“On the morning after the fire, neither you nor I, the loss adjuster, your insurers, the fire officer, the health & safety executive, the police, your bankers, suppliers, customers and staff – no one, in fact, will give a toss about how much you paid for your insurance.
They’ll all be taking statements, looking for bits of paper, and asking questions, but not about your premium.
Our obsession with ‘the premium’ and how cheap it can be, obscures what’s really important. What’s really important are the four, great, indisputably ugly truths about business insurance.
Did you know?
Insurance companies dispute 50% of all large claims from businesses – (this is worth reading twice).
They do this for two reasons: i. breach of policy conditions (which you’ve never read or remembered) and ii. inadequate information disclosure (which you didn’t think remotely important).
It takes on average three years to resolve a large disputed insurance claim (if you can resolve it). Meanwhile, without cash flow, your business goes into administration.†
This is why 43% of all businesses experiencing a disaster never recover – not because they have experienced a disaster, but because their insurance is a disaster.*
That’s the trouble with ‘cheap’ – it’s easy, and it’s easy to be cheap.
A Finance Director obsessed with overheads, and a broker obsessed with ‘hitting target’, don’t examine the detail. They aren’t choosy about the insurer. There is no such thing as ‘cheap insurance’ – it’s an oxymoron, like ‘living dead’. Fingers crossed for today, in the hope of no claims tomorrow.
You see, ‘Cheap and Easy’ have a big pal called ‘Nasty’. The consequences of ‘Nasty’ mean that ‘Cheap and Easy’ become very expensive, disruptive and often, fatal to your future. Getting your insurance right isn’t expensive or disruptive – it’s about spending time, more than money.
We are all sleeping with the enemy, but the enemy is not the insurance company, it’s your own complacency. We’re all complacent about insurance because we’re busy and think insurance is indescribably dull, awful and boring – but it’s not.
Our cartoon super hero in a suit, Bob the broker – “the world’s least boring insurance man”* – can tell stories that, for those of you who have any left, will make your hair stand on end. Lives and livelihoods ruined over ‘saving’ a few quid, yet squandering the future.
On the morning after the fire, on the afternoon of the fatal accident, on the night your bank balance and data are stolen, on the day of the deluge, and, in the week the judge says “it’s your fault” – all that stands between your business’s future, your livelihood, and utter oblivion – is the integrity, professionalism and congruence in your business insurances.
We go the extra mile. Bob actually pays clients to clean their kitchens, test their electrics and complete their fire risk assessments on time, so that there are no disputes about bits of paper.
‘They say’ that all we want in life is to change how we feel, so when the effects of the fire consume your whole life, how would you like to feel?
On the morning after the fire, in the cold light of a bad day, you could be feeling secure with Bob at your side. Beyond price and without parallel, we will ease your mind.”