Business insurance, what are the options?
- Thread starter Karimbo
- Start date
Two immediate comments; first of all, pinging @Frank the Insurance guy guy as the go to for comment here, and also he does provide the insurance for many here, including my own business.
Then I would also be remiss not to signpost this month's UKBF sponsor, Swinton Insurance, so would direct you to give them a try - they linked from this article here. It helps UKBF if you ask them for a quote showing that sponsoring UKBF works
Then I would also be remiss not to signpost this month's UKBF sponsor, Swinton Insurance, so would direct you to give them a try - they linked from this article here. It helps UKBF if you ask them for a quote showing that sponsoring UKBF works
Last edited:
Upvote
0
We too use @Frank the Insurance guy . When we first used him he enabled us to reduce our insurance costs by 40% with better coverage.
Upvote
0
Hi @Karimbo ,
Simply Business it probably still the cheapest for a "Simple" insurance policy and you meet the relevant criteria for the quotes - the quote is very much a tick box quote system and as long as you agree to all the details and parameters, it is likely to be one of the cheapest quotes.
However, if you are in a niche business, there are likely to be specialist insurers that cater for your area of business that may be cheaper.
Is looking for a "cheap" quote the best option for you? If your needs are straightforward you may find that almost all insurance policies provide similar cover/benefits, but otherwise, I would suggest having a good look at what is a "competitive" premium that provides the right cover for you, not the cheapest one!
Speaking to an Independent broker, swill get you specialist advice and they can do all the hunting for a quote - however bear in mind they are a professional service provider, so you can expect them to charge an additional fee if the premium is very low (most brokers receive commission from an insurer - if the premium is low, the commission would not cover the brokers costs and therefore they are likely to make an additional charge!).
Simply Business it probably still the cheapest for a "Simple" insurance policy and you meet the relevant criteria for the quotes - the quote is very much a tick box quote system and as long as you agree to all the details and parameters, it is likely to be one of the cheapest quotes.
However, if you are in a niche business, there are likely to be specialist insurers that cater for your area of business that may be cheaper.
Is looking for a "cheap" quote the best option for you? If your needs are straightforward you may find that almost all insurance policies provide similar cover/benefits, but otherwise, I would suggest having a good look at what is a "competitive" premium that provides the right cover for you, not the cheapest one!
Speaking to an Independent broker, swill get you specialist advice and they can do all the hunting for a quote - however bear in mind they are a professional service provider, so you can expect them to charge an additional fee if the premium is very low (most brokers receive commission from an insurer - if the premium is low, the commission would not cover the brokers costs and therefore they are likely to make an additional charge!).
Upvote
0
I've used Simply Business for the past 8 years and still find them the cheaspest option for us. However, it is completely dependant on your policy requirements, business type and answers to the questions. A cheap provider/comparison site for one could be expensive for another. Shop around and get some direct quotes as well as using comparison sites.
Upvote
0
Agree. As a courtesy - even a call back to say thanks, but its not something we can help with!
Upvote
0
For us business people, I would recommend always speaking to a broker (like Frank).
Yesterday I had a meeting with someone running a new security personnel agency. He said he had insurance and proudly told me he was paying £11 a month for it. My PI is more than that (and I do not have employees). I also knew an electrician who went online for cover, quoting a great price, £20 less than a via a broker. All friends, when the broker reviewed this specialist policy for electricians, he pointed out that the cover didn't work if using ladders over 4' long - a lot of this guys work was outdoors, up ladders..
Yesterday I had a meeting with someone running a new security personnel agency. He said he had insurance and proudly told me he was paying £11 a month for it. My PI is more than that (and I do not have employees). I also knew an electrician who went online for cover, quoting a great price, £20 less than a via a broker. All friends, when the broker reviewed this specialist policy for electricians, he pointed out that the cover didn't work if using ladders over 4' long - a lot of this guys work was outdoors, up ladders..
Upvote
0
Latest Articles
-
The Most Dangerous Moment in Business Is When Everything Is Going WellThey Saw It Coming. They Did Nothing. The Lessons Every Business Owner...
- Ozzy
- Updated:
-
AI and Your Business: Useful Tool, Not a Magic WandThere is no shortage of noise around artificial intelligence right now...
- Ozzy
- Updated:
-
Companies House WebFiling security incident: what happened, what to check, and what to do nextCompanies House has confirmed that its WebFiling service suffered a...
- Ozzy
- Updated:
-
Spring Budget 2026: A Quiet Update for UK BusinessesChancellor Rachel Reeves delivered the UK’s Spring Statement on 3 March...
- Ozzy
- Updated:
-
Practical Ways to Make Your Small Business More Resilient (Especially When the Unexpected Happens)Running a business means juggling plenty of things you can plan for and...- UKBF Editor
- Updated:
