Relying on an insurance broker has become a necessity in an increasingly complex world with unprecedented risks emerging all the time for commercial businesses. Therefore, choosing the correct insurance broker is vital, more harm than good can come from inadequate insurance service and advice.
First Business Protection Ltd ensures our clients a level of service, care and dedication that is unrivaled in the market. There are numerous factors to consider when choosing an insurance broker, and below are some of the most important.
Premiums
Your broker should be working with you to ensure you get an insurance programme at a competitive price, which offers the correct amount of cover with enhancements tailored to your business. The broker should be knowledgeable enough of your type of business to go about finding the best premiums for you.
Claims
Your broker should have a hands-on approach with your business by managing claims in-house. This will ensure a proactive approach to fast and efficient claims management and settlement service, minimizing any disruption to your business in the unfortunate event of a claim. A broker’s ongoing involvement and deep understanding of your business can also help mitigate future claim events from occurring.
Picking Up the Phone
What may seem a basic courtesy, many businesses have had a problem reaching their brokers until the last minute when their renewal is due. This practice seems to have deteriorated further during the ‘work from home’ era. Not only should a broker be reachable, but they should also be open to active communication whenever their clients have an insurance related issue. In order to change plans according to your desires, your broker should be ready to listen to your related requests and action changes to your policy on your behalf when needed.
Market Selection
It is of huge importance your broker has solid connections, relationships and reputation with insurers and markets to provide you with the best trading advantage maximising the chances of a good deal on your premium and overall package.
For most types of businesses and trades, the broker should have access to major markets, not just the one which they recommend to save putting extra work in. A broker should be continuously scanning the ever-changing marketplace to ensure that your policy is underwritten by the best placed market at every renewal. This is a requirement of professionalism as well as a sign that the broker is committed to their work.
Summary
Finding the right insurance broker is important for numerous reasons. Not only do you need to find a broker that finds the best prices for you, but it’s also important to be sure your insurance policy provides the cover you need. What’s more is that it’s also important to find a broker that will be available should you have an emergency in the future.
With First Business Protection, you can be confident that you’re working with a broker that finds the best deal for you and at the best prices. The team at First Business Protection also strives to be available should you need us.
