How To Find The Best Insurance For Your Business

No two insurance policies are exactly alike, so there’s more to consider than just the price. It’s important to ensure the cover you choose matches your business needs.
Understanding Policy Comparisons
Comparison tools like Defaqto can help you review and compare insurance policies. However, even five-star rated providers can differ significantly, as their scores are often based on various categories within each trade.
Why Work With David J Miller Insurance Brokers?
As professional insurance brokers, we’ll take the time to get to know your business asking the right questions to understand your specific needs and risks. We’ll then communicate these to underwriters, potentially securing better terms, such as added cover or improved terms & conditions, often with no additional premium.
Things To Consider When Looking For Business Insurance
Be Transparent About Your Work:
Always provide full details about what you do, where and how. For instance, standard policies may exclude high-risk activities like working at heights, using heat or working outdoors. Even if most of your work is routine, ensure your policy covers any occasional higher-risk jobs such as scaffolding or working on blocks of flats.
Demonstrate Your Business Practices:
Share details of how you minimise risk in your business. This could include your security measures against theft, health and safety protocols, training records and continuity plans.
Consider Your Risk Tolerance:
Decide how much risk you’re willing to take on yourself. Opting for a higher excess can lower your premium but ensure the excess is manageable if a claim arises.
Insure For Accurate Values:
Avoid under insurance by making sure your coverage reflects the true value of your business assets such as tools and equipment. Keep receipts for purchases as proof in case of claims.
**Insurers estimate over 60% of businesses buildings sum insured are under insured. How has your sum insured been calculated? It should represent the full reinstatement costs plus fees. One of the first things a Loss Adjuster will do is check your sums insured and if they are inadequate, this could reduce your claim or the claim could be refused entirely, when your business is most vulnerable.
Get Tailored Cover For Your Business:
Off-the-shelf policies might not address the unique risks your business faces. By working with a broker, you can customise your cover to ensure you’re protected against the specific challenges of your trade, avoiding unnecessary gaps or overlaps.
Why Choose Us?
Navigating insurance on your own can be overwhelming. With our expertise and personal approach, we’ll ensure you get the best advice and protection tailored to your business. Let us help you focus on what matters most – running your business – while we handle the insurance side. Check our business insurance page for more information on what we cover.
Get in touch with us today for a chat about your needs!