For many people, insurance seems a lot like gambling. After all, it can feel like taking out insurance is simply betting that an unforeseen event will happen. Equally, not taking out insurance is a bet that disastrous incidents will not occur. There are even people who refuse to take out insurance because in their minds it is exactly the same as gambling! However, nothing could actually be further from the truth.
While gambling is a literal roll of the dice that involves taking unnecessary risks, insurance is the necessary protection against common risks that all businesses face. Gambling is buying risk. Insurance is buying protection against risk. To explore this idea further, we’re going to explain how exactly to play the ‘insurance card’ and why successful businesspeople regard insurance as the ace up their sleeve.
Stack the Deck in Your Favour
Every single day a business operates is a day that is filled with risks. From potential legal action due to damage to property or people, through to unexpected incidents that cause businesses to grind to a halt, the list is very long and very real.
Small to Medium Size Businesses
The only way for a business to flourish and be confident in its future is to be protected against any possible eventuality. Insurance is the best method of stacking the deck in your favour, because while it can’t prevent these events from happening, it can minimise the damage when they do. When you need it the most, your insurance will give you the power to play a winning hand.
Make Sure You’re Holding the Right Cards
Winning at cards means playing the right hand at the right time. Equally, there’s no point having insurance if it’s the wrong type of insurance. The only way to ensure that you’re holding the right cards is by speaking to an expert and investing in every policy that your business needs.
The lesson from all of this is that there are a lot of cards that your business might need in their hand. Equally, only through research and consultation can you ensure that you’re ready for any circumstance. To get you started on your insurance journey, here are some important questions to consider:
- What are the foreseeable risks in your business?
- Who are the people involved – including customers, staff and stakeholders?
- What products do you need to protect – including property and stock?
- What level of transport and travel is involved in your business?
We Can Help You
For answers to these questions and more you can rely on PIC Insurance Brokers – New Zealand’s insurance specialists. If you need proper and comprehensive protection for your business, talk to one of our Brokers today. We can point you towards the appropriate products and provide practical advice to help you. Contact PIC Insurance Brokers today.