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When it comes to Small Business Insurance Tasmania can rely on professional advice from RSM Tasmania for expert guidance.
For small business owners, managing business insurance claims can be a daunting and complex task.
The intricacies involved in these claims often impose a significant burden, particularly for those who are already balancing the numerous demands of the day-to-day running of their business.
This article explores some common difficulties Australian business owners face during the insurance claim process and emphasises the invaluable role of insurance brokers.
Common Difficulties With Insurance Claims
A primary challenge in filing an insurance claim is the detailed understanding required of the terms and conditions of your insurance policies.
Take, for example, the case of a cafe owner in Melbourne who faced a major hurdle when their claim was denied following a hailstorm. Despite having property damage insurance, the claim was rejected due to a specific exclusion clause for damage caused by ‘gradual deterioration’. Unaware of this clause, the owner faced a significant financial struggle to repair the damage.
Another issue is the time-consuming and complex process of claim documentation and negotiation.
Consider the boutique owner in Sydney whose store was burglarised. The lengthy process of documenting the losses, proving the value of stolen items, and negotiating with the insurance company took several months, significantly disrupting her business operations.
The Benefits of Having an Insurance Broker
The knowledge and experience of RSM Tasmania is crucial in mitigating these challenges. Our expertise in understanding and interpreting insurance policies is invaluable to our clients. We have a deep knowledge of the industry, ensuring that you are not only adequately insured but also fully understand the extent and limitations of your coverage.
In the event of a claim, RSM Tasmania will advocate on your behalf. We will manage the complexities of claim filing, documentation, and negotiation, allowing the business owner to concentrate on their business. Our negotiation skills and industry insight will often lead to more favourable outcomes in claims.
Setting Up Policies Through Brokers: A Proactive Approach
One of the most significant advantages of working with an insurance broker is their ability to tailor policies to the specific needs of a business. By having RSM set up your policies, you’re more likely to have coverage that accurately reflects your business’s risk profile, which is crucial in the Australian market.
This proactive approach will lead to smoother claim processes and better outcomes. At RSM we will identify potential gaps in your coverage and recommend appropriate solutions, ensuring comprehensive protection for your business.
Talk to Roger Hosie from RSM Tasmania today.
Call Now! (03) 6244 7854, or email
