We do not promise our clients the cheapest premiums in the industry. We do promise that we will never compromise on the cover that we believe you need in order to beat a competitor’s premium.
The good old saying “if it sounds too good to be true…” applies here. Many clients get offered great deals on their premiums – but at what cost? Let’s take a look behind the scenes of some of these cheaper premiums…
- Less is never more in the insurance industry. If you are paying a cheap premium, there is bound to be some exclusions worked into your policy. If you were not well informed regarding these exclusions, this limited coverage can be disastrous at a time when you need to claim.
- A cheaper monthly payment might mean a pretty hefty amount in the form of the excess you will need to pay when you claim. These sudden big expenses can cause financial havoc.
- Some insurers offering extremely low premiums tend to only do their underwriting at claim stage. This means that they only investigate your insurance history and properly research your past track record in the event of a claim. If they can find just one fact conflicting with the information you gave when you took out your policy or find evidence that you withheld information, the claim can be rejected.
- A cheaper premium often has extra fees attached to it that is not always thoroughly explained to the client. An example of this is emergency services. You might be under the impression that you have roadside assistance only to be left with a large bill.
- Many respected businessmen and woman merely think that they are paying a cheap premium for their business insurance only to realise they’ve made the ultimate business blunder. This is due to making ill-informed decisions and the belief that comprehensive business insurance includes all the insurance your business needs. That is why it is so critical to speak to an expert and ensure that your “cheap” business insurance doesn’t turn into your most expensive mistake.
An ethical and trusted broker takes on the responsibility to advise you correctly regarding your insurance policies. They need to ensure that you are properly and adequately covered in terms of all your needs and requirements. A good broker will ensure that you are sufficiently covered whilst managing the costs of your premiums by doing a yearly review.
For any enquiries or guidance on your various policies, please contact us here.