Price should not be the main variable when choosing business insurance
When running a company, it's natural for decision-makers to seek to optimise costs and ensure a balanced financial structure. However, when it comes to insurance, limiting the analysis to price can be a strategic mistake with a direct impact on the sustainability of the business.
The real weight of insurance in the cost structure
In general terms, the A company's insurance portfolio represents between 2% and 5% of its cost structure. This is a relatively small amount, especially when compared to other fixed or operating charges.
There are, however, sectors of activity where this percentage can be more significant - such as the Road transport or the Temporary work - due to the nature of the activity and the associated risks.
Why shouldn't price be the main criterion?
Choosing insurance exclusively for the lowest cost can result in:
- Insufficient coverage, which leave the company exposed to serious risks.
- High franchises, which reduce the effectiveness of the protection.
- Unclear exclusions, which are only realised at the time of the accident.
- Lack of specialised support, This jeopardises the ability to respond in critical situations.
Initial savings can turn out to be a false gain when, in the event of a claim, the company discovers that it is not properly protected.
The importance of strategic and preventive vision
More than a cost, insurance should be understood as a prevention and protection tool. In addition to the coverage required by law, companies should analyse other relevant risks, such as:
- Professional Liability;
- Cyber Risk Insurance;
- Health and accident insurance for employees;
- Specific cover according to the activity.
A broader vision makes it possible to transform insurance from a “compulsory” expense into a tool for risk management and sustainability.
It is in this context that Grumese positions itself: helping each client to identifying risks, comparing solutions and negotiating the best conditions, not only in terms of price, but above all in terms of value.
The right decision is the one that guarantees adequate protection, peace of mind and business continuity, even in the most challenging scenarios.
Talk to us - 214 131 310
jose.monteiro@grumese.pt
Grumese, always with your confidence
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