Looking For Business Insurance Near Me Or Business Insurance Brokers Near Me?
Should you use business insurance brokers near to your business or are you better off finding your own business insurance online?
How Business Insurance Brokers Work
It is worth considering how business insurance brokers work as a business model, so that you can understand which option is best when looking for business insurance near me.
The key point is that for the business insurance broker to make a living, they are paid a commission by the insurance company that they recommend to you, if you go ahead and purchase the insurance.
It is the same model in the car insurance industry, which is why your television screen is always covered in Meerkats or Singing Tenor’s; there is a lot of money to be made in receiving commissions from insurance companies!
Whilst most insurance companies accept this model and are happy with it as it has been the main way that clients come to them, other insurers have broken this model, Direct Line Insurance being the most notable one.
They have decided that rather than spend the money on commissions to business insurance comparison websites, they would rather spend that budget on advertising ‘direct’ to their end user clients.
Therefore, when you use a business broker to find insurance close to where your business is based, you are ruling out the opportunity to be insured by some companies. You might be missing the best insurance available to you.
If you decide to obtain a quotation from a business insurance broker, it is worthwhile then contacting two insurance companies directly to see if you have received a competitive quotation.
Whilst it will take a little more time, it will ensure that you get the best insurance deal for your small business.