As a business do you regularly have client’s goods on site that you are responsible for and if so, have you taken out insurance cover for these items.
Many businesses such as mechanics, dry cleaners, jewellers have their clients goods on site, so what happens if there is a fire or a break in? Will your insurance pay out?
It’s all well and good to say it is your customers responsibility for any loss that happens in your care but in the event of a total loss and you lose all your client’s goods, how do you think your clients will respond? This is the type of event which could leave your business in ruins even if you have all the other necessary insurance covers, your clients will be reluctant to come back to you and will most likely spread the word around about their negative experience.
So to be on the safe side, look into covering your Customer’s Goods.
Employees Personal Effects
Are you in an industry where your staff have their own tools such as a hairdresser, chef, mechanic? Did you know that under most Business Pack policies, employee personal effects or tools of trade are excluded or largely limited in cover?
To make sure you have the right cover in place under your Business Pack, give Eagle a call. Alternatively, we can also do stand alone Tools of Trade cover for sole traders or employees who want to make sure their large business investment is protected.
These short tips and reminders provided by Candice Klau of eagle Insurance Brokers
If as a part of your business you are responsible for your customers keys, beware you need to cover more than just the replacement of the keys.
A recent case saw a Sydney Real Estate office burn to the ground along with all their rental keys. A locksmith was required to go and replace all locking mechanisms at the rental properties and provide new keys at nearly $15,000 in cost. It’s amazing how sometimes the smallest things which can be overlooked, can cause the biggest payouts. To be sure you have the right cover, call your local Eagle representative.