When it comes to buying insurance, we all know it is never going to be an easy decision. It’s overwhelming and can be confusing at times, especially when there are various areas you need to take into consideration.

Insurance is such an important investment. It’s only appropriate that you get answers and advice from a professional broker to make informed decisions.

Here are a few things you should know before buying insurance:

1. What are your specific insurance needs?

Consider the risks that are unique to your industry. It’s important that you determine the necessary coverage you need, whether it’s for business or personal insurance. For instance, if you’re running a business, consider all areas you wish to cover such as cyber protection, machinery breakdown, property damage, and more.

2. Compare the prices being offered

This step is extremely important as it very much depends on your budget availability. With that, comparing prices from a handful of different insurance providers can help you make a better financial decision. However, it’s also essential to note that the best price being offered to you should also comply appropriately with the coverage you need.

3. Fill in the gaps

Generally, an average policy will cover only the basics. To meet your unique needs, any additional or extra coverage will need to be added on top of your insurance purchase. For instance, you may have items such as expensive electronics or a nice piece of jewellery that would be financially difficult to replace, even with the assistance of your average renters or home & contents policy. Ensuring this is covered is important to safeguard your financial losses.

4. Seek advice through a reputable insurance provider

Your professional broker will take you through the available options in place and explain to you what each policy includes. In the meantime, you’ll also benefit from your broker’s knowledge and have a better understanding when it comes to purchasing insurance.

When you liaise directly with a professional broker, they will assist you in ensuring your assets are covered and help you find the best discounts to save you more money. Also, your broker will be your main contact person from the day you purchase insurance. You’ll be able to reach out to them directly when your insurance needs any update or when it’s due for renewal.

At East West Insurance Brokers, we have a team of professional brokers that can guide you through the available cover options to meet your insurance needs. Our brokers are able to tailor a package to suit your unique requirements.

Learn how you can keep your business safe, secure, and protected. Take the time to talk to us, you’ll be glad you did:

P: 1800 809 132
E: hello@ewib.com.au
W: www.ewib.com.au

*Please note all insurance policies have exclusions. Please refer to the Product Disclosure Statement or Policy Wording before deciding whether the insurance policy meets your needs.

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