Why use an independent insurance broker for your Commercial Insurance?

Why use an independent insurance broker for your Commercial Insurance?

Searching for insurance for your business can be an overwhelming – not to mention a stressful experience. No matter what type of business you’re trying to insure, there are always multiple policies on the market, offered by insurers all claiming to provide the best deals.

So, what do you do? Not wanting to spend time searching around, many people purchase one of the first policies they’re offered, only to realise a few months down the line that they aren’t receiving value for money or worse, that they’re underinsured.

One way to avoid this happening to you is to enlist the help of an insurance broker. A broker will act as your personal adviser for insurance matters, ensuring you receive comprehensive cover for a competitive price. Here are some reasons why you should consider an insurance broker for your business:

They are experts in their field
Whereas you might be unfamiliar with the insurance market, brokers are experts in their field with years of experience in finding clients the right deals for the right price. Not only will they match you with the most suitable policy, but they can also help you to understand the ins and outs of policy terms and conditions, so you know exactly what you’re covered for.

You’ll receive impartial advice
If you go direct to an insurer, they are bound to claim that their policy is the best for you, regardless of whether it genuinely provides suitable coverage for your individual requirements. Brokers, on the other hand, compare policies from numerous insurance firms, so you can be sure that any advice they give you will be unbiased.

You’re guaranteed quality coverage
Brokers have access to a wide range of insurers and only use reputable firms they know provide excellent service and quality insurance products.

They’ll likely save you time and money
If you use a broker, they’ll do all the hard work so you don’t have to! No more time wasted scanning comparison websites or filling out seemingly endless quote forms.
What’s more, brokers are often able to secure you exclusive insurance deals that you won’t be able to find on insurers’ websites.

They take your individual requirements into account
Brokers know that no two clients are the same – everyone has different insurance needs – so they take the time to assess your individual requirements and ensure they match you with a policy that provides adequate coverage of those requirements.

Brokers can be particularly useful if you have any unusual requirements which often aren’t covered in standard policies, often required in areas such as manufacturing and renewable energy.

They’re flexible
How many times have you emailed an insurance company and only received a reply weeks later? How many minutes have you wasted waiting on the phone just to speak to someone about your policy?

Brokers are far more accessible than insurance companies. They’re easy to contact and you can choose how to communicate with them. For example, you might want to arrange a face-to-face meeting to discuss your insurance needs, or you might prefer a chat on the phone. The choice is yours.

They’re in it for the long-term
It’s not uncommon for communication to dwindle the moment an insurance company has you signed-up. Brokers, on the other hand, are in it for the long-term and will provide you with support whenever you need it.

If you’re ever in a situation where you need to make a claim, it can be a daunting experience. What steps do you take first? What information do you need to provide? If you’ve used a broker, they’ll act as your advocate and guide you through the process to help get you in the position you were before the incident occurred.

Using an insurance broker will likely save you time and money, ensuring business is fully protected and for the right price. Want to know more? Get in touch with Edwards Insurance Brokers on 01564 730 900.