Top 3 tips for choosing commercial building insurance
Commercial building insurance provides protection for your organisation’s property. You must ensure that you choose the right building insurance policy for your business, in order to obtain appropriate protection and aid your company’s success.
At Rigby Financial, we ensure that we find the perfect policy to suit your organisation’s requirements. We consider a variety of factors, including the level of protection for the physical building, as well as employer’s liability and any legal expenses coverage. In addition to these factors, our experts offer these tops tips for choosing commercial building insurance:
- Don’t choose the first policy you see
We completely understand that there is nothing more tedious than piling through mass amounts of insurance policies. However, you must refrain from choosing the first one you spot, as this is not always the best option for you.
It is important that you choose the policy that will serve your business, whether that means finding a policy that covers theft or even finding coverage for employee injuries to avoid excessive compensation costs.
At Rigby Financial, we ensure that we listen to all your requirements and conduct extensive research – thus allowing us to uncover several policies that adhere to your unique requirements, within your specified budget.
- Beware of underlying costs
One of the main advantages of having our expert advisors find you an insurance policy, is that we have extensive experience dealing with insurers and their underlying costs. In some instances, insurance providers do not actually explain the full costs and variables that come with their policies, resulting in unexpected costs.
One of the most common unexplained costs is the level of excess you must pay out. For example, your policy may include protection from theft up to £1 million, however, your excess amount is £150,000. This is the amount that you will have to pay before your insurance provider will offer to pay the rest. This excess pay-out could result in financial issues for your business, as the theft will have already set your business back.
This example establishes the importance of finding out every detail regarding your commercial building insurance before taking out the policy.
- Bundle your insurance
When considering your businesses property insurance policy, you may be overwhelmed by the different types of coverage, which can be purchased individually. However, our advice is to consider an insurance bundle, which caters to your coverage needs and can also lower your insurance costs.
Our insurance advisors will help you to find an ideal insurance bundle that gives you the exact coverage you need. This could include anything from fire and special perils cover to loss of rent insurance, which can be incorporated into one policy.
Another benefit of bundling your insurance is that you only have to correspond with one insurance provider, which is a much more efficient process than working with a number of different companies.
How Rigby Financial can help
At Rigby Financial, we have over thirty years’ experience within the insurance industry, which has enabled us to gain extensive knowledge of insurance providers and their policies. In obtaining this experience and knowledge, we are able to advise our clients on the best commercial building insurance policy for their business.
For further information on our commercial building insurance service, please contact us through our online contact form for or call us on 01744 886077.