Public Liability Insurance - Use It To Help You Grow Your Business!
Insurance is not the most sexy of subjects and it's all to easy to simply view it as pure business cost. As such, you might be surprised to learn that you can use it as a tool to win new customers!
Why do I need Liability Insurance?
Public Liability cover protects your business in respect of claims made by customers or members of the public against you, or an employee, for injury or damage to property as a result of your business activities. For example a customer trips over some tins you were in the middle of stacking a shelf and breaks their ankle, or you set fire to valuable documents whilst welding a pipe at a clients office.
Make your Public Liability work for your business
Lets face it, most people see insurance as a necessary evil or grudge purchase and we all have temptation to find the cheapest business insurance policy. However, buying the right policy can work for you in winning new business an keeping your existing customers.
When tendering for new work or providing quotations for a customer you can promote the fact that you have the appropriate insurance, if it’s with a strong brand name such as AXA, Allianz, Aviva or RSA for example, it’s likely that your buyer will recognize them and it will be build confidence and peace of mind because:
- They know that should anything go wrong they are protected
- Association with strong brands will increase credibility in your business in the eyes of your customer
- They know that the insurer will be around in years to come should any long tail issues arise where you could be found to be negligent
But surely all businesses will have Business Insurance cover?
Correct, your competition will also have Public Liability Insurance, but in most cases it’s not promoted and sits in the drawer until the worst happens and they need to claim. By providing it up front as part of your tender or sales pitch, you underline the professionalism of your business and gain a perceived advantage. Not only that, if your competition is insured with lesser known brand you can leverage additional confidence. Also, don’t forget if you’re pitching to a larger corporate company the buyer tenders are often scored and just by ticking the “Insurance” box you may gain additional points in scoring process.
How should I promote it?
Your Insurance advisor should be able to assist you. At Insync Insurance we provide confirmation of cover certificates free of charge and you can also download JPEG images for use in tender documents, letter heads, websites or brochures.
- Review your current business activites and Compare Public Liability Insurance cover, make sure it fully reflects your business needs and protects your customer
- Think – Do you have 100% confidence in your current insurer and their brand? If not, how will your customer feel?
- Engage with your insurance advisor and make sure you have proof of cover documents for all tenders and it forms part of sales process
- Update website and offline documentation
Yes, Liability and Business Insurance is an additional cost to your business, but by making a key part of your new business and customer retention programmes it can pay for itself many times over!
Free Insurance Review
Insync Insurance will provide a free consultation and review of your Business and Liability cover and have access to specialist underwriters for all types of profession or manual tradesman, including so-called “high risk” liability trades. You can get a Public Liability Insurance Quote Online via our website or book a free review with one of our insurance guru's. Alternatively, call 0330 1240730 for more information, we would love to hear from you!
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About the Author
I’m passionate about family, sport, technology and business.
In fact, I have always been fascinated by business, whether it was running the school tuck-shop or my Saturday job in the local store, I was always looking for ways to improve or view things differently.
I have enjoyed an amazing career fast approaching 25 years in the insurance industry, which has given me real insight into the challenges and opportunities faced by SME businesses in today’s ever-evolving marketplace.
I co-founded Insync Insurance, to offer companies a new way to buy and manage their business insurance. A synergy of digital servicing and personal expertise - utilising the latest technology to enhance relationships, not to replace them.