Choose an insurance adviser for your business

Most business owners prefer to use an insurance broker for general and commercial insurance. To get the best value and most appropriate insurance to protect your business your choice of broker is important.

An insurance broker will help identify and present your risks, suggest improvements for business continuity, obtain quotes from insurance companies and assist you in making claims.

Many insurance brokers are agents of an insurance company and may not be able to offer advice in the event of a claim.

Ask questions to ensure the broker will be able to support your business, such as:

• Will they provide help and support when you make a claim?
• Can they find the most appropriate cover for your business needs?
• What experience do they have in your business sector?
• Do they understand the risks that your type of business faces?
• What recommendations or references can they offer that show they can help you?

Many insurance brokers offer a general service but some also provide specialist advice on particular business areas such as marine and aviation insurance.

Your business could have specialised risks such as working with hazardous substances. Some industries have trade insurance schemes, agreed with an insurer and tailored to the needs of that industry.

Some brokers charge a fee for their services, but most obtain a payment from the insurance company they recommend to you if you take out insurance with that company.

Advice and support

Your Local Enterprise Agency should be able to advise you when selecting a broker or an independent financial adviser. The British Insurance Brokers' Association (BIBA) could also help you find a broker.

If you choose to deal directly with an insurer, it's worthwhile checking that they are a member of the Association of British Insurers (ABI). Check that an insurer is a member of the ABI.