For any commercial enterprise, having insurance policies covering the various risks associated with the business is essential. In fact, some of the policies are even mandatory. If your business is in Perth or in Western Australia, you will find a number of insurance companies offering their products. But as a customer, you can pick any insurance company’s policy through insurance brokers Perth based who can also offer some attractive premium packages. But you should first be conversant with the different policies available and how you can benefit from them.
An Insurance Policy for Virtually Every Cause
As you run your business buying, making and selling or providing services employing a large number of people, you will necessarily need to have a clutch of policies. Some of the main ones are as below:
Fire & General Insurance Policy: This would be offered by the insurance broker like the Oracle Group in Perth and would cover losses due to a fire accident within your premises. If you own or operate from multiple premises, you can have them all covered. Though it might be termed as fire policy, it will include other eventualities like a storm or an explosion, etc. and the damages to the building and machines, and office equipment and products if stocked in these premises as well.
Workers’ Compensation Policy: If you employ a large workforce and if the nature of your business is such that the workers could be at risk in any way, then having a workers’ compensation policy is a must. If it’s a genuine accident and if any of your workers get injured, the insurance company will pay the cost of medical treatment and other losses to the worker under this policy. As the employer, you only pay the premiums regularly.
Burglary & Money: You can check with the insurance brokers Perth has for details of the policies meant to cover any theft in your business premises. There are also policies to cover the handling of cash and the policy will take care of loss, whether kept in the strong room or while being in transit.
Public Liability A Major Concern
When you set up a meeting with the representative of one of the insurance brokers Perth has, to discuss your insurance requirements, you should try and understand the features of public liability insurance. In case you run any business in which, due to any reason, a gas or oil leak or an effluent can be the cause of damage to the environment, you will need a policy like this. The reason for this is that people living around the place can claim to be affected by the release of the hazardous stuff from your premises. If you can anticipate any such eventuality, a public liability insurance policy will protect you from having to pay huge sums of money to such individuals, among the public.
Insurance Broker’s Role Quite Useful
In the field of insurance, there is intense competition among the major insurance companies. Some may be transnational corporations and some home-grown Australian companies. While the basic rates for premium charged might not be much different, the ease of obtaining the policies and settling claims could vary. This is where the insurance broker can be of help. Choose the most reliable one. Visit them online at http://www.oraclegroup.com.au/.