Business Insurance
Financial planning is as much about protecting your wealth as it is about building your wealth. In simple terms, if you cannot afford to lose something, you should try to protect your exposure with insurance.
Planning ahead.
It’s worth remembering that no matter how much expert advice you receive or how well you manage your finances, there is always a risk that you could suffer an early death or a serious illness or injury. Where that leaves you and your business in the future depends on the wealth protection strategy you have in place.
How can I protect my business?
Much like our busy personal lives, business owners are often so focused on building their business that they neglect to protect the investment to ensure the survival of the business if something unexpected occurs.
For business insurance plans, it’s important to seek professional guidance when establishing your insurance plan. With so many potential structures and types of cover available, it’s our duty and responsibility to take you through a process to help you understand your own protection needs and find the most appropriate solution for your situation.
What to look for in business insurance?
A comprehensive plan helps to ensure business continuity and can minimise disputes between owners and families. This plan includes a documented buy/sell agreement to cover issues such as:
- Establishing who should retain and/or gain ownership and control of the business in the event of an owner passing away or becoming permanently disabled.
- Ensuring the departing owner (or their estate) receives an agreed and predetermined value for their interest in the business.
- Providing the remaining owner(s) with funding options to purchase the departing owner’s interest in the business
What our clients say
Why should I use an insurance broker?
An insurance broker works with you to protect your business in the event of the unexpected. The major benefits of using an insurance broker are that they:
- Search through a variety of insurers to find a policy that suits you – the cheapest one isn’t always the best!
- Offer expert advice.
- Can assess your risk exposure.
- Save you time and money.
- Will communicate with the insurer.
- Support you at claim time.
- Work for you – not the insurer.
- Regularly review your policy.
- Personalise your experience.
Talk to one of our award winning Inovayt Commercial team members today to discuss your situation.
Helpful resources
Financing your business
Invest time into your business finances. Our business finance guide unpacks everything you need to know about financing your business.
Latest Blogs
Frequently Asked Questions
All businesses regardless of industry or size face many risks on a daily basis, so it’s important that you understand your particular risks and whether you’re prepared. Being prepared means you’re able to minimise any loss or damage from exposure as much as possible, so that your business can continue to operate with little disruption. Usually, this means having some form of business insurance in place to protect your assets, customers, and your earnings.
Business insurance covers you for material damage losses that occur from an unexpected events. Depending on your needs we can match an insurance provider to you that covers you for everything that you need, so you can get on with business.
Most insurers offer flexible payment options to suit your business. The most common payment schemes are annually and monthly, however let us know what works for you and we can work with the insurer to provide you the best possible outcome.
Find an Inovayt Commercial broker near you
Jason Pogorelec
Senior Finance Broker
Justin Coughlin
Partner | Senior Finance Broker
Kathy Stammers
Senior Finance BrokerOur team of experienced commerical brokers help you discover the right financial solutions for you and your business, so you can put your business in the best possible situation to grow, while having piece of mind.
