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Nikki Sheppard

Account Executive

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Bruce Mather

Business Development Manager

If you keep money on your business premises, or you transit with money on your person, then purchasing Money Insurance is something you should consider. Losing the week’s takings, for example, could have a significant impact on your business, so it’s important to have the right coverage in these circumstances.

 

Money Insurance covers money or cheques that are stolen from a safe on your premises or stolen whilst you, or a staff member, are transiting with money or cheques.

 

In addition to Money Insurance, it’s worth purchasing Business Insurance that includes a range of coverage appropriate to your business.

 

How do you know what cover you need? A Steadfast Insurance broker will take the time to understand your business and assess various factors to help determine the insurance types you need. A Business Insurance policy will generally include the following types of insurance.

 

What’s included in Business Insurance?

A Business Insurance policy will generally include the following types of insurance.

 

Property Insurance

Property insurance provides coverage for a variety of business assets including buildings, stock, contents, and customer goods. It offers protection against unexpected events such as fire, water damage, and storm damage. With property insurance, you can have peace of mind knowing these assets are covered and you can focus on running your business.

 

Business interruption insurance

In the unfortunate event of a loss, such as a fire or other disaster, your business’s income is likely to be affected. Business Interruption Insurance covers your loss of profits and additional costs incurred following damage to the business. This type of insurance can help you quickly recover from the loss and get back on track.

 

In addition to having this type of insurance, it’s important that you have a Business Continuity Plan in place that maps out how you would continue to operate in such unforeseen circumstances.
 

Burglary insurance

A burglary can be a costly and disruptive event for any business. Burglary insurance provides coverage for stolen property, helping you to recover the losses. In addition to this, you may require Glass Insurance for the event of a break-in.

 

Glass insurance

As a tenant, you are typically required to insure the glass in the building you occupy, including both external and internal glass, as well as signage. Glass insurance can help cover the significant costs of repairing or replacing damaged glass.

 

Liability insurance

Liability Insurance protects your business from claims for personal injury and property damage by third parties in connection with your business. This can include customers, contractors, and others who visit your premises. With Liability Insurance, you can focus on running your business without worrying about the financial implications caused by liability-related claims.

 

Machinery breakdown insurance

Most machinery is operational 24 hours a day, and a breakdown will eventually occur. Machinery Breakdown Insurance covers sudden and unforeseen loss to your plant (if applicable) and machinery. This type of insurance also covers stock in cold storage and fridges. With this insurance policy, you can ensure your business is protected from repair and replacement costs related to unexpected breakdowns.

 

Electronic equipment insurance

Electronic equipment insurance covers unforeseen or sudden loss to your business’s electronic equipment. With this insurance policy, you can safeguard your business from the financial implications of unexpected electronic equipment failure. This insurance policy can also cover the restoration costs of data that may be lost due to equipment breakdown.

 

Management liability insurance

Management Liability Insurance covers a range of management issues faced by owners and managers of companies, such as governance, finance, and management activities. This insurance policy covers issues ranging from alleged mismanagement of the company by directors (Directors and Officers Liability) to staffing issues, such as unfair dismissal of staff, and crime losses, such as theft by staff. This type of insurance policy helps you to protect your business from statute law breaches and related financial losses. This insurance may cover the legal costs and compensation required to pay as the result of allegations that you have caused loss to someone else whilst in your management role. (For example, paying out Work Cover claims and Tax Audit costs may fall under this cover.)

 

Cyber insurance

In the 21st century, cyber insurance has become increasingly important due to the heavy reliance by businesses on computers and digital platforms. A cyber policy provides your business with protection against extortion, hacking, social engineered theft, stolen identity, privacy errors, telephone phreaking, and more. With cybercrime becoming one of the most concerning areas for businesses large and small, this insurance policy can help protect your business from related financial losses.

 

Goods in transit & marine cargo insurance

If your business is involved in the import or local transport of goods by road, sea, or air, this insurance policy covers those goods while being transported until the point of delivery. Goods in transit & marine cargo insurance help protect your business from the financial implications of unexpected events during transportation, such as loss or damage of goods.

 

General property insurance

If you have mobile equipment such as phones, iPads, or specific business equipment, general property insurance provides protection when they are away from the business premises. This type of insurance policy covers your business equipment from loss or damage, protecting you from unexpected expenses.

 

Worker’s Compensation Insurance

Under Australian law, it’s compulsory for employers to take out Workers’ Compensation Insurance. This insurance covers workers in case they become sick or injured because of work. Workers’ compensation includes payments to employees to cover their wages while they’re not fit for work, medical expenses and rehabilitation.

 

How Steadfast Eastern Insurance Brokers can help?

At Steadfast Eastern Insurance Brokers, we specialise in providing insurance solutions to businesses of all sizes across Australia. Our team takes the time to understand your unique needs and business operations, leveraging our years of experience in the insurance industry and market knowledge to provide you with the best coverage options available.

 

Our approach involves conducting thorough research on the market and utilising our experience with similar businesses to identify the most suitable insurance coverage for your specific needs. We pride ourselves on offering transparent and clear communication throughout the insurance process, ensuring you understand your coverage and are satisfied with the policies selected.
 

Why use our services for your money insurance?

We understand that selecting the right insurance policy for your business can be overwhelming. That’s why we offer a range of tailored insurance solutions that will protect your finances from unexpected events. Here’s why you should choose us for your money insurance:
 
Access to over 100 insurers: With access to a broad range of insurance suppliers, including specialist insurers who don’t deal directly with the public, we can advise which products will best suit your needs.
 
In-depth market knowledge: We have a genuine understanding of the insurance market and can advise you when the market is entering a soft phase or prices are starting to harden. We will provide you with the necessary insights and help you make informed decisions.
 
Transparent and clear communication: Our team will help you understand your policy, including the terms and conditions, and how they operate. We will also assist you with Risk Management Programmes to reduce your exposure and present yourself to the insurer in the best possible light.
 
Assistance with claims: In the event of a claim, we will be here to help ensure that you receive exactly what you’re entitled to in a fair and reasonable manner.
 
AFS licence: We hold an Australian Financial Services (AFS) licence, meaning we are qualified to provide you with financial advice and insurance broking services.
 
Backed by Steadfast Limited: As a member of Steadfast Limited, Australia’s largest general insurance distribution network, we have access to exclusive insurance products and market-leading technology, ensuring that we can provide our clients with the best possible insurance solutions.
 
Choose our insurance services for transparent and straightforward insurance policies, backed by experienced professionals with the market knowledge and insights necessary to protect your finances. As your insurance partner, we are dedicated to providing you with the support you need to protect your business from unexpected events. Contact us today to learn more about our services and how we can assist your business.
 

What can go wrong?

Most people would think that a store inside a shopping centre would be safe from smash and grab.

However, at approximately 3.45am on 3rd of January, 2018 three hooded bandits drove their 4 wheel drive vehicle into the entrance of Uni Hill factory outlet shopping centre in Bundoora, Victoria. Once inside they targeted a jewellery store and stole $30,000 worth of stock.

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