Insurance is an essential cost to your business. It’s also a cost you will always be happy to reduce where possible. So, can having signage maintenance reduce your business insurance premiums? We take a look.
Your business, like any other, will always be keen to keep costs down. Even for those mandatory overheads, it pays to keep a careful eye on these costs and make sure they don’t become an expensive burden. A great example is business insurance; you simply have to have the protection of an insurance policy for your business, but it can pay to make sure you also have a policy that takes account of any services that help to keep your business operating safely.
The aim of your business insurance is to mitigate exposure to risk. As a retailer, you will usually relate risk to the likes of your premises being damaged in a fire, or your staff or customers being injured or becoming unwell. So you may well assume your signage will be included within the policies. However, this may not be the case depending on factors including whether you own or lease the premises you operate from, or if the signage is attached or detached from the building. So you should first take a moment to ask your insurer if your retail signage is covered under any existing policies.
A next step is to ascertain what risks to your signage will be covered. This might be quite narrow in scope; for example you might not be insured against vandalism to your signage, or if it fell down following a bout of poor weather. At least if you discover you have little or no insurance covering your signage, you can at least do something about it before anything untoward happens.
Of course, after checking your insurance and making any changes, you might well be facing a larger premium. So how can you try to reduce the cost of your insurance? Having a maintenance agreement for your signage can help to reduce your premiums. It is after all evidence you are taking steps to avoid issues with your signage in the future. But, for this to be considered by an insurance provider it’s important to show the credentials of the maintainer. This entails providing evidence your maintainer has the training and certification to inspect signage – and to do this safely too.
Why is this important? For your insurer, they will want to be confident your signage is being cared for by real experts, and they will not put others at risk when undertaking any work. For example, Cygnia is a well-known and respected for the signage maintenance services we provide. Our teams of engineers are not just hugely experienced – they are all continuously trained to high safety standards too. Which means, if you inform your insurer that your signage is under a maintenance schedule with Cygnia, you could potentially see a nice little drop in your premiums. Which goes to show that maintenance services from Cygnia really can help you to save money elsewhere.