Three key areas to look at when provisioning shop insurance
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Posted On :
Oct-11-2011
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Article Word Count :
366
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Many businesses don’t consider shop insurance as a key expense in their plans – they think that basic buildings and
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Many businesses don’t consider shop insurance as a key expense in their plans – they think that basic buildings and contents insurance will cover them, or just don’t consider it at first, but it’s one of the key areas that ever business needs to commit to from the outset. This gives businesses the confidence in knowing that should the worst happen, they’re covered.
Three key elements
There are three key elements every business needs to consider when looking at shop insurance, and they can help, not only decide the type of cover you need, but the cost, overall of the cover that you’ll set up.
Have you made substantial renovations since purchasing the building or letting it? – this could include updating fixtures and fittings, or the landlord doing so, or investing in higher quality equipment. Making sure you keep track of this, not only from an asset tracking perspective, but as a building’s value perspective is an important element of working with insurance quotes. Having details on hand of the changes you’ve made can make the difference between having adequate insurance or over/under insuring.
What stock will you have on hand, on average? This is always going to be a ballpark figure, and you should always keep as accurate a track of stock as possible, but where appropriate, know how much stock you plan to keep on hand at a maximum/on average. You can then speak to the insurance company about areas like turnover and restocking and see if that changes your quote.
Know what you’re insuring – Your shop equipment, building and stock are the three essential areas to cover. Knowing how much it would cost to replace them, should the worst happen, will give you an idea of how much insurance you need and how much your premiums might start out at and will give you an idea of whether your quote is competitive or not. Once you’ve got that information and researched everything that you need, you can find the perfect quote for your insurance with ease. And once you’ve collected quotes, all you need to do is choose!
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Article Source :
http://www.articleseen.com/Article_Three key areas to look at when provisioning shop insurance_90795.aspx
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Author Resource :
Choosing the correct shop insurance at the correct level can be a minefield of negotiation and estimating. If you make sure you’ve got all the information to hand, you can be more confident in the quotes you are collecting.
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Keywords :
landlord building insurance, landlord property insurance, landlord insurance quote,
Category :
Business
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Business
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