1. Regular insurance reviews
– In these busy times it’s
very easy to neglect doing
a thorough review of your
existing commercial
insurance policies and just
sign the renewal papers
when they come in each
year. Because the
insurance market changes
on such a regular basis
you may find that, if you
haven’t looked around for a
while, there are some very
good packages available.
Put some time aside
regularly to make sure you
are getting the best deal
possible.

2. Use a specialist – Using a
specialist broker within
your industry could not
only mean substantial
savings, but also increased
cover. Due to their
knowledge of your market
a lot of brokers will have
agreements within
insurers whereby they
offer increased levels of
cover at no additional
charge.

3. Make sure your broker is
doing their job – If you
have been with your
current broker and
insurance company for a
number of years it is worth
making sure they have
been doing a regular
market review on your
behalf in order to obtain

the best rates possible for
your company. A good
broker will not just
renegotiate terms with the
same insurer each year,
but also check to see that
other insurers haven’t
suddenly changed their
stance on a particular
trade and started offering
more competitive
premiums.

4. Be aware of what cover
you need – There are so
many different types of
cover you can get
insurance for it can be
overwhelming at times.
Many of these covers will
not be relevant to your
business and this is where
a good broker can make
you aware of the important
areas that need insuring.
By reviewing your policies
you may also find that
there are gaps in your
existing policy that cost a
minimal amount to insure
but will save you
thousands of pounds in the
result of a claim occurring.

5. Don’t always say yes –
When it comes round to
renewal you no doubt get
bombarded with brokers
asking you to quote for
your business. If you are
going to look at
alternatives make sure you
keep it to a maximum of
two or three brokers

including your existing. If
insurers see the same
details from five or six
different sources they will
be less likely to provide
terms and this will narrow
down your chances of
getting a competitive price.

6. Get testimonials – When
you are deciding on which
brokers to use for
alternative quotes don’t be
afraid to ask for contact
details of a couple of their
existing clients for you to
contact. By contacting
these companies you will
get a good picture of the
type of service they offer
on a day to day basis.

7. Don’t chop and change –
Although moving insurers
for a premium saving is a
good idea it’s important,
unless there is a justified
reason, not to change
markets year in and year
out as it will damage your
ability to get alternative
quotes in the future. Try to
do a full review of all of the
policies every other year.