Thursday, 12 May 2011

Who to listen to when it comes to building contractor insurance?

One good piece of advice for buying building contractor insurance, as it is for any kind of insurance policy, is to ask for the opinions of others. This is a great way to learn from other people’s mistakes and to work out what exactly it is your business needs, especially if you find the opinions of those in the same industry as you.
However, building contractor insurance – like any kind of insurance – is never going to be the same thing for different people. One person’s perfect insurance policy could turn out to be filled with holes for someone else. So another piece of advice when listening to other people’s insurance stories is to take them with a pinch of salt. Whilst someone might tell you their insurer was a great help during a moment of disaster, try to get the full story. And remember that that particular disaster may be unlikely to ever befall your business, but another type of disaster could, and it could be this particular kind of disaster that this ‘great’ insurer can’t cover.
When getting people’s stories, try to ask more questions than just ‘what did you think’. If they have a particularly damning story of an insurer, try to establish whether the insurer was actually tricky in getting help and cover from, or whether the person who took out the policy had mistakenly looked over some small print.
Building contractor insurance is like any kind of insurance policy, it is difficult to fit one policy to suit all. Therefore, you should try to listen to people’s advice understanding that, and knowing that negatives and positives might not fit to your particular situation.

No comments:

Post a Comment