Last time we skimmed through the different types of cover you should consider for your business. This time we’re looking at ways to get a cost-effective premium for the cover you decide you need.
Go for Broke(r)
It is worth considering going to a specialist insurance broker to help find you the right cover at a competitive price. There’s a common misconception that, by going to a broker you are going to be paying a lot more for your policy. This isn’t always the case and it can help you get the most appropriate cover for your business. This should help you avoid any sticky situations where you might not be covered by your insurance policy.
Brokers can bring a wealth of experience and knowledge to help you find the best insurance for your business and keep insurance premiums to a manageable level.
Go it alone
Going it alone and finding your insurance policy direct can be done, but it will likely take you much longer to research and find the best quotes. Just make sure you research what cover you need thoroughly, before making any decisions.
Cost-effective isn’t cheap
With all that said – finding the most cost-effective insurance policy, doesn’t mean it will be the cheapest. After all what happens if you get an astonishingly cheap policy and think you’re covered for all eventualities – but it turns out you’ve missed a key feature and now there’s a claim been lodged against your business for negligence. What now? Well if it turns out you were negligent you could be liable for a great deal of money.
‘Cost’ is only one part of ‘cost-effective’. The ‘effective’ part means finding cover that actually covers you for a wide range of, sometimes, very unlikely events unfolding. But no one ever plans to give negligent advice or provide products that are dangerous.