Reasons why SME businesses should consider using an Insurance Broker

insurance broker meetingShopping online for cheap business insurance as opposed to contacting an insurance broker is convenient for SME businesses.  Whilst the internet makes it easy to quickly make comparisons and buy the cheapest solution, unfortunately companies who make this choice find that they aren’t getting a valuable service and often find themselves not correctly insured.

Benefits for using an Insurance Broker

With their wealth of experience and plethora of contacts throughout the insurance market, brokers can source a broad range of insurance products, which are tailored to business requirements.  By using a broker, customers are open to far more choice and a secure pricing strategy, which is often not easy to find online.

Time is of the essence

Time is extremely precious to businesses.  With their focus directed at sales and building the company, by choosing to use an Insurance Broker to find them the best solution, they not only free up time but also draw on the best insurance experience to adequately protect them.

Experts on risk

Unlike a one-stop insurance package, an Insurance Broker will drill into the nature of the business to assess all aspects of risk and make sure that eventualities are adequately protected.  By building a bespoke package, this may include adding extra risk cover, bespoke risk cover and even finding cost savings where other protection is not required.

Protecting diversification

The COVID pandemic forced many businesses to diversify into other areas to meet consumer demand or to replace lost revenues.  This change led to companies requiring more complex insurance needs, whereby a one-size-fits-all approach no longer applied. Since the pandemic many companies have thrived through diversification, and this has led to further support by liaising with an Insurance Broker.

Hybrid working

Following the pandemic, hybrid working has meant that many employees now split their working week between office and home.  With this, comes added risks which were once managed in one central office space, are now evaluated across many places.  Risks including health and safety and cyber security require extra risk assessment and policy cover to protect companies and their employees.

To find out more about risk advice for your business from an experienced insurance broker like JRW Risk Solutions, please get in touch.  We provide bespoke commercial insurance to suit many industry sectors including engineering, manufacturing, construction, property developers / owners, office-based businesses and automotive companies.

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