When starting a new business it is important to consider your business insurance requirements. We live in a claim society where solicitors work on a “no win, no fee” basis which encourages people from all walks of life to make claims for accidents, loss of earning and damages. Many solicitors use aggressive marketing campaigns to find people and employees who may have a claim against a business. With this in mind it would be prudent for a new business owner to find the right business insurance to protect their new business.
What is Insurance and why do you need it?
Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss as defined by Wikipedia
Where to Find The Right Business Insurance?
New business owners are often oblivious as to what business insurance their new business needs. It is common for business owners to start their business first before finding out what insurance their business might need. Finding the right business insurance can be a challenge when you have no knowledge of what is required.
New owners turn to the internet to research business insurance and they often get caught up in comparison websites. Comparison websites do not discuss business owner’s business model in order to advise them of the type of insurance they need. Comparison sites attract people who have the mindset for looking for the cheapest product rather than the right kind of business insurance cover for their business needs.
There is a place for comparison websites in the market place but users need to be aware that the companies that are quoting on comparison sites have paid to be there and they are not necessarily the best or the cheapest in the whole market place. They are however the best and the cheapest from the panel of select insurers that have paid to advertise on that comparison website.
Understanding Business Insurance
Today, there are many different types of business insurance product available to new businesses as well as established businesses. Trying to make sense of business insurance can be a minefield for new business owners and using the services of an established insurance brokerage is like finding gold. Business insurance brokers deal with business insurance every day and they are best placed to advise new business owners on the best business insurance for their needs.
Business insurance brokers will save you time searching for the most competitive insurance quotes. Insurance broker s will search many insurance companies and will provide you with a number of quotations covering the amount of insurance required along with the agreed amount of excess agreed. An insurance broker will save you time and money and will leave you able to concentrate on your new business.
So if you are setting up a new business or are looking to replace your current business insurance policies with Employers’ Liability, Professional Indemnity or Public Liability Insurance then consider using Ashburnham Insurance Services for independent Insurance advise.