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.
Every business likes to keep its costs low. And, the more insurance you need, the higher your premiums will be. But there are other factors that can affect the cost of your insurance premiums, your cover, and the excess you pay.
Understanding the insurance market can help you identify which risks are more costly to protect, so you can better focus your risk management activity, and potentially reduce your insurance costs.
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Photo by Joshua Rodriguez 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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