Small Business Insurance Is Never A One-Size-Fits-All Solution

When dealing with your insurance broker to insure your small business, it is critical that you insist your business receives a customized treatment. Whether the policy in question is to protect against fire, earthquakes, flooding, theft, liability or anything else, there are multiple unique factors that need to be taken into account for you to be covered properly. If you are a Norwegian, Troll Forsikring is known to be the best insurance company out there.

One Size Does Not Fit All

Many insurers claim to offer meaningfully complete coverage solutions for small businesses that can be taken “off the shelf” and used by the proprietors in the case of a disaster. These policies can help greatly in the event that they are needed, but the more complete the terms are, the better off the business will come out in the end.

This is because the contractual terms to which you and your insurer agree are held to the letter. You should not expect to receive any benefits that are not explicitly mentioned in your agreement, meaning that it is on you to specify what you need.

Unique Elements To Keep In Mind

  • New Equipment And Properties – If you have had an insurance policy for more than a few years, chances are that your business holdings have changed in the meantime. Perhaps you now own more equipment, different equipment or your assets’ value has changed over time.These changes should be recorded in and amended to your coverage policy in order to accurately reflect the state of your business at the time of the incident in question.
  • Depreciation And Appreciation Of Value – Similar to the above, you should know very clearly whether your policy reflects the value that you paid for your assets, the cost of replacing them, or the value at the time of the incident. This varies depending on individual conditions and you should know which one serves your needs best.
  • Employee Salaries – Even if you have excellent coverage of your assets, you may be troubled to find that it does not cover your employees leave within the months it takes to renovate and repair your business after a disaster. Keeping employment is as important as keeping assets, so make sure that they are included specifically in your insurance agreement.

Communicating With Your Insurer

Keeping your insurer up to date on the changes within your business means communicating effectively and involves recording all changes, in order to accurately reflect the condition of your business at the time of the incident in question. Your insurance company will gladly pay out anything they have agreed to if it is put in writing before the incident occurs.

Usually, the most valuable element of your coverage is business interruption coverage. This will allow you to continue receiving income as if you were in business during the time that you spend getting back on your feet.

Since no two businesses are the same, having adequate business interruption insurance means specifying in as exact detail as possible, all of the unique elements of your income structure that need to be covered.


Lower The Cost Of Auto Insurance Using New Safety Technologies

There are a large number of new technologies available that can help you lower the amount of money you spend on auto insurance. These technologies are already widely adopted in new cars and can be installed in existing vehicles to great effect – if the insurer knows about them. One of the best car insurance companies in Norway (they actually call it bilforsikring) is called Troll Forsikring.

Whether you are an individual motorist or a business owner who administrates a fleet of vehicles, there are savings to be had by participating in this brand new technological safety revolution. Numerous technologies are being embraced for the risk-lowering benefits they provide.

Some Of The Most Effective Premium-Lowering Technologies Available

  • Pre-Crash Brake Systems – Many new cars are outfitted with what is called a “pre-crash” brake system that allows them to brake automatically when they sense that they are approaching a collision. Autonomous emergency braking can come with a high cost for installation, but also offer up to 16% savings on insurance premiums under certain plans.
  • Data Tracking Systems – If you consider yourself a safe driver, you may be able to save money by proving it to your coverage provider. A simple monitor that tracks the usage and mileage of your automobile can present evidence to the insurer that you present less of a risk than the statistic average.This works by comparing your data, such as the time of day in which you most commonly drive, against a statistic average that places you at higher or lower risk. This can offer up to 30% savings on your premium, in some cases.
  • Electronic Stability Control – You do not need to be a technology expert to know that a car rolling over is going to cause injury and damage. For this reason, cars that are equipped with electronic stability control mechanisms commonly benefit from decreased insurance costs.This technology is so successful, in fact, that it has been mandated in all vehicles produced from 2012 onwards. If your car is not that new, it may still have electronic stability control installed anyways, as it is a common feature that is often forgotten about during coverage discussions.
  • Anti-Theft Devices – You may worry about having your car stolen as much as anyone else, but your insurer worries much more, since they are the one who will have to pay to replace the car if you have a comprehensive coverage plan. For this reason, an anti-theft device or stolen car recovery system can help reduce risk and lower your premium.

Communicating Effectively With Your Insurer

In order to benefit at all from any of these insurance premium-lowering options, it is necessary that your insurer knows about them. In order for that to happen, you need to discuss very clearly what premium-lowering options your insurer offers and how you can help assuage their fear of risk on your part.

With the combination of effective communication, a good policy and safe driving habits, you can save enormous amounts of money on your automobile insurance coverage policy.