How to get the best business insurance deal
- Shop around. Insurers are fighting for market share in small business lines and some will be willing to take on more risk than they have in the past.
- Consider your risk profile from the insurer’s perspective and adopt risk reduction strategies that will minimise the insurer’s exposure to loss.
- Select an insurer or broker that understands your industry and knows your claims history.
- List the risks that pose the biggest threat to your business and insure against those.
- Weigh up the cost of insuring predictable risks: these are the most expensive to insure.