In today’s digital world, purchasing business insurance online might seem like a quick and easy solution. But while it may be convenient, it can also leave businesses dangerously exposed—often without them even realising it.
Here’s why working with an experienced insurance broker is the smarter choice:
– Risk of Underinsurance – One of the biggest pitfalls of online policies is that they’re often based on generic questions. Many businesses underestimate their level of risk or choose cover limits that seem sufficient but wouldn’t fully protect them in a worst-case scenario. In the event of a claim, underinsurance could mean a significant shortfall, leaving your business to absorb the financial hit.
– Lack of Tailored Advice – Online platforms provide pre-set options, but they don’t consider the specific risks of your industry, contracts, or future business growth. A broker takes the time to understand your business properly and ensures you get coverage that truly fits.
– Policy Exclusions & Small Print – Online policies often come with exclusions or limitations that aren’t immediately obvious. Many businesses only realise this when it’s too late—at the point of making a claim. A broker will explain exactly what’s covered (and what’s not), so there are no nasty surprises.
– No Dedicated Support When You Need It Most – If you buy insurance online and need to make a claim, who’s in your corner? A broker doesn’t just arrange your cover; we advocate for you in the event of a claim, helping to ensure a smooth process and the best possible outcome.
The Bottom Line?
Business insurance isn’t just a box to tick—it’s a crucial safeguard for your livelihood. Working with a broker ensures that your coverage is fit for purpose, fully explained, and there when you need it most.
Acorn to Oaks Financial Services Limited this week I have spoken with 2 contractors already who’s polices have auto renewed year on year, issue both business have grown more than 4 times over leaving them underinsured and at risk of non-payment of a claim should one occur. Both clients are now facing large premium increases which would have been incremental if reviewed annually.
If you’re unsure whether your business is adequately protected, let’s have a chat. A quick review could save you a big headache down the line!