When it comes to business insurance, there’s no “off-the-shelf” product that will cover you for every eventuality. While it’s tempting to purchase generic insurance cover for your business from insurance brokers, the fact is that every business or industry is different - so your insurance cover needs to be too.
If you’re an art dealer, for example, you’ll need to ensure that your paintings and sculptures are properly valued in a continually fluctuating market, which is a highly specialized process. If you run a fleet of heavy-load vehicles, it can be extremely expensive to fix them if they’re in a road accident, so you’ll need to make sure you’re covered for those potential costs.
Specialist insurance brokers to suit specialized businesses
To meet these different needs, specialist insurance brokers craft customized insurance policies depending on the industry you’re in, from arts and antiques to photography, travel, tax, public transport, maritime transport, and more.
For example, a tax insurance broker will know the potential costs you could face from accountants, auditors, and tax advisors in the event of an inquiry by the South African Revenue Services (SARS). In contrast, a taxi insurer will need to look at issues such as union strikes and their responsibilities to passengers, since the taxi is providing public transport.
Specialist business insurance suits businesses of any size, from small enterprises to large multinational organizations.
Why use specialist insurance brokers in South Africa?
The main advantage of using specialist insurance brokers in South Africa is that they have significant experience and expertise in their particular field, so they understand the unique risks that your industry faces. As a business owner, this means you’ll get all the cover you need, but you also won’t be overinsured and spending money unnecessarily.
Hollard works with quality specialist insurance brokers in South Africa who are experts in a range of industries. Looking for an insurance solution that suits your business requirements? Start by reading more about our specialized insurance partners, or find a specialist insurance broker now.
