The hidden costs of equipment breakdown
Unreliable equipment can be the death knell for a business, with the costs of equipment failure and downtime tricky to accurately predict and calculate.
Cash flow is the lifeblood of business. So if a disaster like a fire, burst waterpipe, or legal proceedings against you halts your operations, your business could fail.
Insurance is there to help you cover your costs if things go wrong. But if you’re underinsured, you may not be able to cover the running costs of your business while you’re getting back on your feet.
When it comes to securing cashflow, many businesses make these two common mistakes, leaving them underinsured – and vulnerable.
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Photo by Kelly Sikkema on Unsplash
Unreliable equipment can be the death knell for a business, with the costs of equipment failure and downtime tricky to accurately predict and calculate.
Underinsurance is more common than you think. Industry figures show up to 62% of small-to-medium-sized businesses don’t have correct-value insurance.
In this article, we’ll explore construction works, product and public liability, business vehicles, material damage, and workers’ compensation.
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