Applying for an online business insurance quote has become an easy process and many of the five million small businesses in the UK buy this way.
It's now easy to get property price quotes and insurance coverage and buy protection online from various outlets including commercial insurance brokers, direct business insurance companies, and business insurance price comparison sites.
Any type of business protection can be purchased online if your company does not employ more than fifty employees, and even this larger case is handled today by help lines and callback facilities.
The practice of buying covers online is very appealing to small traders and entrepreneurs, often working from home. Hours of research and comparison of business insurance quotes can save small businesses large amounts in annual premiums.
But sometimes there are big problems that arise for businesses that buy online, further down, if they are unfortunate enough to have to make a claim against the policy.
The majority of problems that can delay payments or reject claims, occur because of information about the business that is supplied or given, when first getting a business insurance quote.
Because it is very important when getting online offers that correct information about the business is given. Specifically the shells will be questioned when the business is misinterpreted by the information provided or there have been changes in business activities that were not stated when getting an offer.
Misstatement can be intentional to avoid paying additional or unintentional premiums, but there is no reason and will be subject to sanctions.
Deliberate misrepresentation, for example, is a builder who submits a price quote for a builder, who uses heat and works at height but who states he only works on one-floor extensions. Another example is a company that submits employers' obligations which only states half of its workforce.
Accidental misstatements are far more common but can still cause disappointment when making a claim.
The most common mistake made by business men and women when applying for business insurance online, is to declare the value of the property at a rate lower than the actual value. This can apply to the sum insured stated for commercial buildings and / or content insurance.
If the stated value of the insured amount is less than the market value or the cost of repairs, which applies to certain policies, the claim will be subject to what the insurance company calls 'Average'.
The average is applied to claims and is a means by which insurance companies will reduce their obligations. The average assumes that the employer will incur losses due to the difference between the stated sum insured and the true value and will reduce the number of claims proportionally.
Claims will also be rejected and rejected where it is known that they have become changes to the original cover described in the deer quote which then forms a policy contract. For example, if a motorcycle trader does not state that he also runs a taxi business with the same vehicle at night to rent and give gifts.
To avoid disappointment and ensure your business is well protected, prepare correct and up-to-date information about your business, when bidding online for business insurance quotes.
When applying for an online business insurance quote, it makes sense to use a company that can offer a fixed level of protection so you know that your business is included, or provide additional help and advice from an expert or broker on the phone.
Label: Business Insurance