COMMERCIAL insurance is a competitive market in the United Kingdom with hundreds of insurance providers vying for business. In such a situation, how will you go about getting the insurance your business requires at the best price? Well, there is no rule of thumb in this, but the following sources can be helpful.
UK Commercial: This is an internet-based service that provides commercial and business insurance quotes. It provides a long list of sectors, and you have to click on the sector relevant to you. This opens up a page providing useful information pertaining to your sector. It also provides a form for you to fill and submit online. Once you have done this, a commercial insurance representative will revert to you with quotes and advice.
Quoteline Direct: This service provider is authorized and regulated by the Financial Services Authority (FSA) and has been in business for more than 30 years. Some of the most reputed commercial insurance companies converge on this online resource. These companies offer cover against risks faced by small businesses, wholesalers, and manufacturers. You select your business category, and complete and submit an online form to get an accurate quote.
Insurance Expert: Here, you have to enter your post code to get a list of commercial insurance brokers in, or nearest to, your area. The list will include their telephone numbers, street address and a roadmap to their office. You can browse for brokers on the basis of your specific trade. Then, you contact the broker/s of your choice and negotiate directly with them.
Insurance Now: This is a place where independent insurance intermediaries meet. It has a business insurance directory plus information for your guidance. You can get a customized quote if your business is one of the following: construction, building, consultants, surveyors, entertainment, leisure, general trades, health, beauty, professional and retail. It also provides links to intermediary agencies.
UK Net Guide: This has 14 sections, of which one is money and finance. A sub-section of ‘money and finance’ is insurance. From here, you can obtain instant business and commercial insurance quotes. It also lists 75 commercial insurance and brokers whom you can get in touch with.
To conclude, there are many ways of going about getting the best quotes for your business and commercial insurance needs. The rule is: don’t take any one insurance service provider’s quote. Get at least three quotes and choose for the best. Insurance is a highly regulated industry; so there is little chance that anyone can cheat you if you exercise the minimum caution such as getting deals in writings and paying only by cheque.
By Andrew Fisher