Is There Still A Need For Insurance Brokers ?
Until fairly recently, it was virtually impossible to obtain insurance for anything without using the services of an insurance broker. This was true for normal domestic insurance, such as home and car insurance, and also for all types of business and liability insurances. Insurance companies generally did not like dealing with members of the public, as it was too time-consuming and costly. They preferred to use an intermediary, an agent – usually an insurance broker – who could deal directly with the public, and then negotiate the risk with the underwriters of the insurance company.
How Are the Claim Limits in Trades Insurance Determined?
Trades insurance is a way to protect your company from the problems that can come along with extending credit. It’s only natural that you want to offer your customers some type of credit, and it’s quite common for businesses of all sizes to allow their customers as much as a year to pay their invoices. However, if you have a client that doesn’t pay their invoice and the amount owed is quite large, it could be enough to seriously impact or even destroy your business.
Why an Insurance Broker is Better than a Comparison Website
People shop for insurance providers in two main ways. Some visit insurance price comparison websites while others contact insurance brokers. This article discusses why it may be better for you to choose an insurance broker over a comparison website. Provision of Regulated Advice Many jurisdictions have institutions that oversee and regulate the activities of insurance brokers. Such regulatory bodies help to ensure that insurance brokers provide advice that is in the best interest of the client.
Key Benefits Of Having Business Insurance
Some business owners can think that having business insurance is the preserve of established companies or think that is it something they can do without. This is a major mistake, as there are business insurances that can be tailored and adapted to the individual business. Although it can be a little expensive to have proper business insurance, think of it this way: if you pay premiums for years to be covered by insurance, it is likely that just one payout from the insurance will more than cover the premiums.