Australia’s online magazine for entrepreneurs & SMEs

How to get the best business insurance deal

• Shop around. Insurers are fighting for market share in small business lines and some will be willing to take on more risk than they have in the past.
• Consider your risk profile from the insurer’s perspective and adopt risk reduction strategies that will minimise the insurer’s exposure to loss.
• Select an insurer or broker that understands your industry and knows your claims history.
• List the risks that pose the biggest threat to your business and insure against those.
• Weigh up the cost of insuring predictable risks: these are the most expensive to insure.