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Checking in with your premiums

Couple With Broker

If you’re a new FSB member, or if you’re new to the FSB Insurance Service, it’s a really good idea to check in with one of our advisors to see if they can do anything about the premiums that you’re currently paying on your business insurance.

There are several member services available for you so it’s easy to let a few things slide or to focus on other areas of your business, but our teams frequently get calls from established businesses that haven’t really shopped around much when it comes to their public liability packages and they have ended up paying a lot more than they need to.

One of our more senior sales agents recently managed to cut someone’s premiums in half, simply because they’d assumed that what they already had in place was the best they could do in terms of cost.

Markets change, products change and just as it is with other financial services, you can save yourself quite a lot of money by just investing a small amount of time periodically in doing a small amount of research and asking around. Of course it’s advisable and in many case required for an experienced broker to do a lot of the legwork with the more detailed research, but it can be critical to sense check it with other brokers.

Insurance has become an unbelievably competitive field, in particular the home and motor market. Business insurance is however starting to go the same way, so that can start to work in your favour as a small business. Nobody wants to invest massive amounts of time reading up about insurance and it is probably not the main focus of your business, but just a few minutes can net you a decent saving.

If you’re new to the FSB and you haven’t done much about your insurance in recent years, then it can really be worth asking around a little bit. Coming to us will mean we can give you access to a range of discounts thanks to your FSB membership, but even if you don’t want to use the FSB Insurance Service, we’d still suggest that you ask for a second opinion, just to check that you’re getting the best deal you can.

As a small business, you face some incredible challenges every day, but in the case of insurance, a lot of brokers are desperate for your business, so why not make them work for it a bit?

It’s absolutely critical to just occasionally check in with your broker or even a new broker to check

This one is especially pertinent for new FSB members

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