Jan 23, 2023
Building Insurance: Essential & Underrated
While insurance is not a new concept, it is very underrated and often overlooked by many. Even if you don't have a business, you should be aware of some of the most common insurance types and how they can benefit you. Having insurance is a privilege, but this privilege isn't without limits. In this episode, we will understand what those limits are and how we can grow past them.
People need buildings, and they need them built quickly. But getting the building license isn't enough—you also have to get your building insured. Builders are receiving a lot of work, but they're turning it down because they don't have the right insurance. If you don't have the right insurance, then you can't get started on building your new business.
Listen to Mick Hawes interview Chitra Matra from Bovill Risk & Insurance Consultants (BRIC) as they discuss the importance and benefits of Domestic Building insurance and its coverage.
In this episode you will:
- Hear about Chitra Sharma who is a team leader at Bovill Risk & Insurance Consultants (BRIC). They are builders who specialise in professional indemnity and builder’s insurance.
- Hear us talk about the misconceptions about getting insurance
- Learn the importance of having domestic insurance
- Know the minimum requirements for placing insurance
- Know the coverage of domestic building insurance
- Know the common challenges or issues that builders encounter when getting insurance
- Understand the risk and assessments of an insurance companies
- Learn how you can grow your business organically
- Hear us talk about how accountants deal with insurers and how they assess their questions
- Learn the disadvantage of over-covered insurance
- Learn how mental health is being addressed in the building industry
All this and more, on this week’s episode of THE TOOLSHED.
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Stay tuned next week when we going cover Water, water everywhere with Joel Kean. So, don’t forget to subscribe to the show to get that episode as soon it gets released. Until then, stay healthy.