Got you, not gotcha

To be truly “on top of your business insurance,” there are 3 key things to get clear on:

1. Knowing what could go wrong
What are the real-world risks in your business — your risk exposures?

2. Knowing what you’re covered for
What risks have you transferred to the insurance market, and what will your policy actually respond to?

3. Knowing what’s still on you to manage
What risks remain uninsured, excluded, or still your responsibility?

Easier said than done — but if you aim to understand these three things, your business is far more likely to avoid nasty surprises and stay protected as it grows.

If you’d like a complimentary review of your current cover from our partner insurance broker, simply complete the form below.

3 tips for avoiding “gotcha” moments

1. Spend 5 minutes with your policy wording
Look at what you’re insured for, then scan the key inclusions and exclusions. Policy wordings aren’t as scary as they seem — and if in doubt, call your insurer or broker and ask.

2. Make sure your activities are known by your insurer
Insurance usually only covers the work you’ve disclosed.

“Activities” include both the type of work you perform (e.g. electrical, plumbing) and the setting in which you perform it (e.g. heavy industry such as mining, or civil works on public roads).

You can use this occupation guide as a general reference to see whether your activities align with what’s typically expected for your trade. Always confirm with your insurer or broker that the work you’re performing is included under your policy.

3. The more complex the business, the more valuable advice becomes
The riskier the work, the bigger the team, or the more contracts you sign — the more helpful a broker can be in making sure your cover fits properly.

VIZ is not an insurance broker. If you’re looking for tailored advice, complete the form below and our partner broker will be in touch for a complimentary review.