5 Reasons why you need boiler covers

8 June 20239 June 2023 Business Business Matters
‘Banks called upon to support SMEs international expansion, as 70% abandon overseas plans’ London, 9th June – Banks need better cooperation with SMEs to grow the economy as 70 per cent of businesses have abandoned overseas expansion plans due to a lack of resources and support, according to industry experts at Money 20/20. Almost three quarters (72 per cent) of business owners feel their banks provide ‘very limited’ support around international finances, revealed the SME Empowerment Report from financial toolkit, HedgeFlows. Speaking from Money 20/20 in Amsterdam, Neh Thaker, Managing Director of HedgeFlows, said: “The SME market is diverse and fragmented which causes the traditional coverage model by banks and other providers to be difficult to scale past payments and current accounts. SMEs are the backbone of the economy and powerhouses for innovation and growth, so it’s important that banks play a key role in supporting businesses, especially when it comes to trading internationally.” “SMEs are keen for overseas trade which requires access to the right financial tools to help them against fraud, currency swings and hidden costs, but these solutions can be expensive. Many SMEs never grow up to be able to afford the right tools so they never become resilient big businesses and eventually die unnecessarily. This leads to a bifurcation between big and small businesses and so a fundamental unfairness. Bridging the gap by empowering SMEs to plan and manage their finances for international expansion is a key driver for HedgeFlows”, Thaker continued. The UK government revealed that at the beginning of 2022, the total turnover for SMEs was estimated at £2.1 trillion, equating to 51 per cent of the economy. Money 20/20, which took place between the 6th – 8th June in Amsterdam, welcomed over 7,500 attendees from over 2,300 companies to connect industry leaders in the FinTech and financial services spaces to discuss innovation in the sector and how businesses accelerate growth. On the 6thJune, Neh Thaker and Alex Axentiev, Managing Directors of HedgeFlows, presented on the need for a fresh approach to treasury and risk management solutions for businesses aspiring to grow internationally. Alex Axentiev, Managing Director of HedgeFlows, added: “Doing business internationally can be a risky and unsettling process for SMEs and early-stage businesses, and it is vital that they have access to the resources and support to simpler financial planning, risk management and AP/AR automation across currencies.” HedgeFlows is a financial toolkit that enables smaller companies to manage all their international finances on a self-service platform. All the way from invoice management and seamless payments through to expert risk management. HedgeFlows presents banks with diverse partnership models to extend all these services to their SME customers.

During the winter, going without a working boiler might be miserable. You cannot rely on having warm water or a cozy home throughout the chilly winter if your boiler is not functioning.

Boiler insurance is a smart choice if you want to stay out of any annoyances during the winter. By getting boiler coverage, you can make sure that your boiler is regularly serviced to weed out any potential technical problems.

Buying a house and getting boiler insurance is a wise financial move. Boiler Cover UK provides a range of coverage choices to meet your needs.  It will also have a ton of other benefits. When it comes to a boiler, routine maintenance will make it work more effectively and ultimately cost less money. Additionally, you won’t have to pay anything if your boiler malfunctions because your boiler insurance will take care of it. If you still need to decide whether boiler insurance is a good idea, read on to learn more about the benefits.

It saves You a Good Amount of Money.

Your home’s boiler cover can reduce the cost of your utility bills by paying for any additional units you require. Your boiler will operate as well as a new one if it receives routine maintenance. You’ll be able to keep your home warm for extended lengths of time as a result of regular boiler maintenance. This way, you can have hot water and a cozy home all year without any hassles or challenges.

It contributes to improving the air quality

Heating insurance guarantees that your boiler receives routine maintenance, avoiding any issues in the winter. A professional service may also include cleaning the dust and recyclable materials from the HVAC system. Cleaning is necessary to maintain the cleanliness of the air you breathe. Dust and debris accumulation can exacerbate asthma symptoms. Thus, it’s critical to get rid of them.

The Lifespan of Your Boiler Will Be Extended

The longevity of your boiler can be increased by performing regular maintenance on it. For many years, it will be of great use to you. Additionally, it will efficiently maintain the temperature in your home and produce a fair utility bill. A boiler requires frequent upkeep, which is an expensive and time-consuming task. If you don’t keep it up, you’ll soon have to spend a lot of money on a new one. Long-term cost savings from boiler insurance include the assurance that your boiler will be regularly maintained and replaced if it breaks down.

Reduces the danger potential of a breakdown

You should invest in boiler insurance the same way you would in a home. Maintaining your boiler is a crucial component of boiler insurance to ensure it doesn’t break down when you least expect it. Additionally, electrical connections need to be examined frequently to prevent any issues that can develop if not. In other words, having a boiler insurance policy lessens the possibility of failing at the worst possible time, saving you time and hassle.

A boiler cover ensures that several tests are conducted to evaluate its health.

In addition to covering costs in the event of a failure, a boiler also includes several tests that determine the health of your boiler. For instance, boiler covers offer an online boiler service where they dispatch an engineer to evaluate the condition of the boiler. To confirm that your boiler isn’t leaking, which could be harmful, it also includes a carbon monoxide test. A gas safety inspection is also included to ensure your boiler is in working order. It is advised that you routinely monitor the condition and operation of your boiler rather than solely depending on your insurance provider. You should report any anomalies in its process immediately so that they can be investigated and fixed before any further damage is done.

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