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Make the most of your tax deduction with the RIGHT insurance
The 4:45pm call to amend your Business Insurance policy on June 30 will not happen!
End of Financial Year is fast approaching and underwriters will soon pull the pin on all new business insurance quotes and with the industry wide delays still greatly significant, it's now time to get your insurance organised before June 30.
Simple tips to consider when reviewing your insurance:
- Have you purchased new vehicles or equipment?
- Updated or expanded your business premises?
- Sold any assets that now need removing from your policy?
- Considering the delays in goods and lack of supplies, are your stock and content levels adequate and able to be replaced?
- Engaged any new staff or subcontractors to keep up with the demand of your services/products?
- Most importantly, does your current level of insurance covers still meet the needs of your business?
- As we have now become so diverse in business, does your policy cover your new business activities?
So many points to consider but they are all very important points when preparing your insurance for the end of this financial year.
Whilst we're all time poor as we head into the end of financial year, buying your business insurance online may be fast and efficient, but buying insurance online without the proper advice can lead to an insurance product that is not fit for purpose and can lead to a poor outcome for you and your business.
As we see the insurance conditions tighten and become more restrictive for many occupations, Insurance Brokers are the qualified experts when it comes to reviewing your insurance. They better understand what is covered and also what is lacking within your current insurance policies. Insurance brokers are well placed to assist you to navigate the hardening insurance market and to find alternatives that best fit your requirements.
If you are considering a worthwhile investment and a great tax deduction this financial year, consider engaging a qualified insurance broker.
Thinking you ARE covered and BEING covered are two very different things.
General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.
All information above has been provided by the author.
All information above has been provided by the author.
Abbie Wilson, National Insurance Brokers, ABN 22165146789, AFSL 233750
QUESTIONS? JUST ASK
Abbie Wilson
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