How to choose the right business insurance brokers for your company


We all know that business insurance is a must, though seeking out the very best providers and policies for your particular company can be pretty time consuming. This is why many people choose to go through an insurance broker. A good broker can save you time and effort to great effect - but how do you know which to choose? See below for Rigby Financial’s top tips on making a decision.

  1. Are they fully and legitimately registered?

Every legitimate insurance broker must be regulated by the Financial Conduct Authority. There is no way around. The FCA ensures that all the work a broker does is legal and ethical, so if they’re not registered, this suggests that they are not a fully honest organisation. If the brokering firm itself does not display any information of this kind, you can always check with the FCA to confirm.

  1. How is their knowledge?

Each broker has a specialism, or at least a slight leaning - even if they insist that their knowledge is comprehensive. It’s important to talk to several individuals within the same firm to check how easy they are to speak to, and how forthcoming you find them. You need to be able to rely on your broker to make the best suggestions for you, so it’s vital that you get to know them before you make any decisions.

  1. Do they have any bias?

Some brokers have agreements with particular insurance firms, and those firms may not match your requirements. Do some background checks to make sure that none of their current employees have any links to particular firms, such as being board members et cetera, as this might mean that they are obliged to push clients towards their favoured insurer and not towards the one that is best for them.

  1. Walking the walk

Your broker will need to be there for you if ever you need to make an insurance claim. If you’re scoping out a particular company, see if you can make contact with anyone who has used them and has made a claim, and try to find out what the process was like, and how they were treated. Also, ask the company themselves. Their procedure for making a claim should be simply and transparently explained. If it seems like they are answering vaguely or avoiding giving straightforward responses, it may mean that they are either inexperienced or have hidden hurdles within the process.

Business insurance brokers are there to find you the very best policies for your company, so you can rest easy and get on with your day to day activities without having to worry about going through that rigmarole yourself. If you’d like to consider using Rigby Financial as your broker, simply visit their website - www.rigbyfinancial.co.uk - or contact them on 01744 886077, and their friendly and knowledgeable team will be more than happy to discuss you requirements with you.