The risks of underinsuring your business
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.
As Australia emerges from lockdown, businesses are now facing the next hurdle.
As they adapt to the post-COVID landscape, some will be looking at how to adapt their business models to comply with new hygiene and social distancing requirements, while also saving on unnecessary costs.
However, now is not the time to cut back on insurance: with many businesses holding fewer cash reserves, insurance still provides important financial protection against unexpected setbacks, like fire, storms or theft.
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Photo by Andrea Donato on Unsplash
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.
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