Business insurance: protecting the important assets you need to stay in business

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As the dance industry continues to grow, many dance instructors need to lease or buy a studio from which to practice. And as the dance profession continues to actively reduce the risk of injury to dancers and instructors, many dance studios are choosing to invest in professional flooring.

Tap dancing in a studio.Installing professional flooring is a significant investment for a small business, but its many benefits include reducing injuries and increasing the standing of the studio.

With such an investment it's worth considering insuring this asset. What would happen if there was a storm and your flooring was water damaged, or if you decide to give your studio a facelift and paint is spilt on the floor? When you’ve already made this significant investment into your business, shouldn’t it also be important to ensure that it’s protected?

In the case of a storm or fire, the costs to return your business back to its previous state can amount to thousands of dollars. Costs can include repairing or replacing fixtures and fittings such as flooring or mirrors, debris clean up on your property, or even securing the damaged premise from intruders.

‘Unfortunately, we hear all too often about business owners who have left their business uninsured, thinking that a claim would never happen to them. The impact of not having appropriate insurance or a plan in place to safeguard against this loss has the potential to result in business closure.’
Giselle Levens, Dance Insurance Manager

How would you manage if your costumes, stereo equipment or even your premises were badly damaged or destroyed? Would you be able to continue running your business? Do you have a contingency plan if you were unable to use the studio you currently rent or own?

Business insurance can protect the important assets you need to stay in operation. And it may also provide financial support if your business is unable to operate following an unexpected event such as a fire, storm or accidental damage.

All dance businesses require different solutions to ensure they can continue to practice in unforeseen circumstances. That’s why it's an advantage to deal with an insurance broker such as Aon who will help you get the right insurance products for your business needs.

Don’t leave it until it’s too late to discuss your insurance needs.

If you would like an estimate on insuring your flooring, or your studio and its contents, please call the Dance Service Team at Aon on 1800 806 584.

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