Business Insurance, aiming to save you money

Here at Autonet we understand that to make a business run effectively, not only do you have to make a high turnover, but you have to look to save money in every place possible.  That’s why we aim to save you money on your business insurance.

We tailor make our business insurance quotes for you, allowing us to offer a business insurance policy to meet your needs at our most competitive price. 

For example if you only need cover for up to £5million on your employers liability insurance, we can offer that, and that will obviously be cheaper than cover for £10million.

There are a number of ways to save money on your business insurance though, so we have compiled this guide to give you an idea of where you could look to save money.

Is your business secure?

Business insurance works the same as any other insurance in that to get a price; the risk is calculated to see what the chances are of a claim being made each year.  What can be one of the highest risk factors involved is the security of the business.

The more a business can do to reduce their risk, the more they will see a reduction in their business insurance premium.  Most of the time this just involves a little common sense.

A business that operates out of a warehouse in a high crime area with just a padlock may not reap the benefits of low cost commercial property business insurance. 

If the same company was to introduce CCTV, the premium could drop.  Take a look at your businesses security, does it have locks on?  Security guards? A guard dog? Panic buttons?  All these may reduce the price of your business insurance premium.

As there is an increase in businesses home trading, not many people understand that these types of business may need business insurance as home contents insurance may not cover them. 

The industry that the business is in also goes a long way to determining the risk factor.  Businesses such as roof fitters will have a higher insurance premium than that of a retail shop, as the risk of injury is greater.

Combining policies to save money

When it comes to dealing with business insurance, people just tend to want to get it out of the way as quickly as possible.

Searching for types of insurance available can be a cost effective solution though as combining policies can save time and money.

If your company requires the use of more than three vehicles, taking out a fleet policy may be more cost effective and more efficient than an individual policy for each vehicle.

Public liability insurance whilst an added expense, could see money saved in the long-term, especially if you have frequent dealings with the public.  Even employers liability insurance could save you money if one of your staff were to have an injury.  Don’t forget that employer’s liability insurance is a mandatory requirement.

Is cheaper necessarily best?

Don’t try to get a cheaper price by reducing the levels of insurance on your property cover – if you under insure your property, it’s unlikely you will get the full pay-out when you make a claim.

With cover like public liability insurance, the most obvious way to get a cheaper price is to change the limit of indemnity you choose to be covered for, but this can be a false economy and you need to be sure you are buying the limit of indemnity you need to pay for possible claims.

The most important factor when buying your business insurance is making sure you are adequately covered. The first thing you should do is check in detail that a policy and its conditions cover you for your needs. 

Taking out business insurance can be time consuming and labour-some, filling in forms for hours on end and trying to get all the information in one place.  One phone call to Autonet negates this, and as one of the UK’s leading insurance brokers in the insurance industry, you can be sure we are trying to get the best deal for your business.

We have professional advisors on hand to help with all your enquiries to try and save you as much time and money as possible.