12 Things You Need To Ask Your Business Insurance Advisor

Someone with the expertise and professional knowledge needed to help support business ventures of all descriptions, a business advisor is a vital contact for all companies. Whilst the nature of your dealings will vary somewhat depending on the industry you operate within, there are a number of universal considerations which need to be made.

All meetings with business advisors are designed to be beneficial but how much you get out of these encounters will depend on what you put into them. With this in mind, here are 12 things you need to ask your business insurance advisor:

1. What are the risks?
The insurance industry is one which operates on a risk-based system. Identifying the risks you will face and establishing ways to reduce them is vital and an advisor can help you understand exactly what this entails.

2. What are the benefits?
The benefits of different business insurance policies can be difficult to appreciate. A business insurance advisor can look at policies from an independent perspective and advise you on the best option with impartiality.

3. What are my options?
Business insurance advisors are not there to sell or endorse a particular policy. Instead, they explain all of the available options to you and help you ascertain which is best.

4. What cover do I need?
Depending on the nature of your business, you may need specialist insurance. Whether this is insurance which relates to a specific industry, gap insurance, commercial crime protection or public liability insurance, your advisor should be able to talk you through it.

5. Where are insurers based?
UK based insurers offer plenty of benefits to customers. Speaking to your advisor about the locations in which insurers are based is therefore highly recommended.

6. How will the policy change?
Your business insurance policy needs to grow and develop alongside your business so it is important that you ask your advisor how this will work.

7. Will I be covered?
Insurance policies are designed to offer protection so this should always be your priority. Get your advisor to look through policies carefully and establish whether they cover all your assets.

8. What can affect my insurance?
Anything from global events to national news can influence the insurance industry. Always ask for more details on this and how you can safeguard your business.

9. How much contact will I have?
The corporate world is a continually expanding entity and the amount of contact will vary from month to month. You’ll want to know advisors and insurers are always available to help.

10. Are insurers reliable?
Advisors are experts in their field so they’ll be familiar with which insurers have a good press and which do not. Always ask them for recommendations.

11. Are you reliable?
The reputability of your advisor should also be considered. Ask to see their credentials, including the date when they are issued.

12. What experience do you have?
Always ask for evidence of the experience your advisor has in dealing with businesses. If testimonials are available from previous clients, look at these thoroughly.

About the author:
Cindy is the community manager for a number of clients from a range of different industries. She creates awesome content on behalf of her clients to strengthen their digital PR strategy.


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