Insurances Matters
In the autumn issue of The Installer magazine, insurance expert Mathew Hazzard, Head of Business Insurance, of strategic BiKBBI partner UIB Insurance, gives his advice on how to choose a business insurance policy …
Matthew Hazzard Head of Business Insurance
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As 2021 draws to a close, it seems to have thrown everything imaginable at us from personal health concerns to steering business through the heavily mined waters that include furloughing of staff, government enforced shut down´s of kbb retailers, short supply of raw materials which has in turn, helped lead to a lack of stock and therefore long lead times to receive products. More latterly it´s been the energy crisis that have caused delays to deliveries, a desperate skills shortage affecting industry, especially the
KBB market and now looming increased taxation. All this and a pandemic still affecting our daily lives. If someone had said all this would happen three years ago, no one would have believed it! So if the last two years has taught us anything, it´s that the future is impossible to predict and therefore, never a better time to protect your own personal and business wellbeing, both health-wise and financial. The good news is that there are easy solutions for KBB installers to protect themselves from some of these possible future threats and its imperative to consider your current insurance status, for instance, when did you last look at your policy and check if your cover will suffice in these difficult times?
Insurance is a serious business and should be regarded as a fundamental part of protecting your company, covering you against a variety of risks ranging from accidental damage to angry customers. Importantly, installers need to understand that some insurance cover is required by law whereas some come as an optional safeguard against threats to you or your business and are designed to give you peace of mind whilst you go about your everyday business. Understanding what you need and defining which is which policy, and where to find the right ones for you, is part and parcel of choosing the best small business insurance policy for you.
