Reduce your business' risk and save on insurance premiums

There is little doubt that you are running your business in a climate where cost management is everything, which is why reducing your business’ exposure to risk makes good sense. Not only will it help make sure your business keeps running, you could save on your monthly business insurance premiums.

Consider the following practical ways to better manage your risk and you could save on your business insurance:

Install a tracking device in your business vehicles

Using a Santam-approved vehicle recovery system could help with the recovery of vehicles after it has been stolen or hijacked, which may help reduce the cost of insurance claims and therefore also your business insurance premium.

Telematics systems for fleet owners

A Santam-approved telematics system which uses advanced technology to monitor driver behaviour can help to reduce your business’s exposure to vehicle accidents thereby helping you reduce your insurance premiums.

Protect your business premises

Installing a sprinkler system or power surge protection equipment on your business property can potentially result in an insurance premium discount however this does depend on the property insured as well as the exposure to the dangers that will be reduced by the installation of these devices. Santam will consider premium discounts if the above-mentioned devices are approved by certain industry bodies (such as the Automatic Sprinkler Inspection Bureau for sprinkler systems, for example).

A few other practical changes include the offsite storage of flammable material and regular depositing of cash. Simple changes like these help to reduce your business’ risk and could result in a lower premium.

Reasons to insure with Santam

Santam is South Africa’s largest short-term insurer, insuring risks of over R4 trillion. We’ve paid out 99% of all claims made in the past year. We also offer the following cover and benefits:

Comprehensive cover for your small business; and
Business interruption cover for unforeseen events.

Remember to contact Santam or your intermediary to establish whether discounts apply, how large your discount is, as well as whether any safety improvements to your business qualifies for a discount.

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