Business Risk Protection
Protecting Your Business with the Right Insurance
Running a business involves juggling many risks. You likely already insure your assets such as buildings, equipment, and stock against disasters or theft. But have you protected your most valuable asset: your people and revenue? Business insurance isn’t just about material objects, but rather safeguarding the livelihood your business provides. This is where a business insurance adviser can help ensure you have comprehensive protection, not just the obvious coverages.
At Capital Advice, our brokerage service specialises in business risk insurance. We understand the unique risks that Kiwi businesses face, from losing a key staff member to unexpected interruptions. Our goal is to make sure your company can survive and thrive even if the unexpected happens.
Why Use a Business Insurance Broker?
Expert insurance brokers can be an invaluable partner for your business. Here’s why working with a broker or adviser is beneficial:
- Holistic Risk Assessment: We take time to understand your business operations, finances, and key personnel. This allows us to identify exposures you might not have considered on your own.
- Tailored Coverage Plan: Instead of a one-size-fits-all policy, we recommend a suite of coverages tailored to your specific needs so you’re not underinsured or paying for unnecessary cover.
- Market Knowledge: As brokers, we compare policies from multiple insurance providers in New Zealand. You get the most competitive premiums and quality coverage from trusted insurers.
- Stress-Free Claims: Should you need to claim, we assist you through the process and advocate on your behalf to ensure you get the full benefit from your cover.
- Ongoing Service: Your business will evolve, and so might your insurance needs. We provide regular reviews and updates to your coverage as your company grows or changes.
In short, a business insurance adviser helps save you time and money while giving you confidence that critical risks are covered. You can focus on running your business, knowing the what-ifs are taken care of.
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Key Types of Business Insurance Cover
Every business is different, but most will need a combination of insurance policies to stay protected. Below are some common types of business insurance and what they cover.
Note: Capital Advice can help you arrange all of these specialised covers as needed.
- Key Person Insurance: Provides a lump sum to the business if a vital person passes away or suffers a serious illness. This cash injection helps the company cope with lost revenue, hire a replacement, or pay off debts and business loans while it recovers.
- Shareholder Protection Insurance: Also known as buy/sell cover, it enables remaining co-owners to buy out a shareholder’s stake if that person dies or is permanently disabled.
- Business Interruption Insurance: Covers loss of income and helps pay ongoing expenses if your business has to temporarily close due to an insured disaster. It’s crucial for survival, as it funds the business during downtime so you can pay rent, loans and wages until you reopen.
- Group Insurance Cover: An employee benefits insurance scheme providing cover for a group of people under one policy. Employers use group insurance to offer staff financial protection as a perk, often at discounted bulk rates.
Business Insurance Tailored to New Zealand Companies
New Zealand businesses face some unique challenges and opportunities. We’re a nation of small and medium enterprises, often with a close-knit team wearing multiple hats. A local business insurance broker understands these contexts. Capital Advice will ensure your policies consider your local factors when structuring insurance for your business.
Additionally, as Wellington-based insurance advisers, we know the value of personal service. You’ll deal directly with our specialists, who can meet with you to discuss your needs, explain your options, and provide unbiased advice. Our firm’s reputation is built on trust and long-term relationships, so you can count on us for honest guidance rather than a hard sell.
Get Your Business Covered: Free Consultation
Protecting your business doesn’t have to be complicated or costly. With the right advice, you can secure the future of your business against life’s uncertainties. Capital Advice will guide you every step of the way, from risk assessment to policy selection and beyond. Get in touch with our business insurance adviser today for a free, no-obligation consultation.
