Small business owners tend to be born optimists with little inclination to think about what could go wrong. That’s why it pays to have an insurance broker in your corner to safeguard what you’ve worked for.

Save yourself time

Anyone who has compared car, home or health insurance policies to try to find the best deal knows how time consuming it can be. Choosing a business insurance package is even more complex because of the range of risks requiring cover.
A business insurance broker will not only save you time sourcing the right policy, they can also save time and money if you need to make a claim.

Utilise your business insurance broker’s experience

Small business owners are great at what they do, whether it’s running a café or a consultancy. But they are rarely insurance experts. “What they may not understand is the broad range of risks they face,” says Dallas Booth, chief executive of the National Insurance Brokers Association (NIBA).

A business insurance broker will help identify the risks your business faces, then get the insurance package that matches those risks. “There’s no point buying a business package off the shelf if it only covers some of your risks,” says Booth.

Access better deals and cover 

Buying the wrong insurance cover cheaply can be expensive, whereas paying a bit more for the right cover can save you money. In some instances, an insurance broker may even be able to negotiate a better deal in terms of both price and coverage.

“A broker will find the business package that covers their client’s risks at the best value for money,” says Booth.