Here at All About Savings, we understand that business insurance can be somewhat of a grey area. Depending on what your role is at your company, you may not understand the ins and outs of what can be a bit of a minefield. As well as being able to help you with switching over and finding the very best supplier, we have put together this quick guide to help you make an informed decision before you pick up the phone.

The first consideration for you to make is what business insurance you need and exactly how much of it you need to purchase.

First of all, the type of business insurance you should get depends on the size of your operation and exactly what it is you offer or provide. Similarly, your customers may well have requirements when it comes to the kind of insurance your company holds.

This blog is focused on Public Liability Business Insurance

Public liability insurance means that you can claim for compensation from people from outside of your business. This is most likely if they have sustained an injury or had their property damaged because of your operations or one of your members of staff. This could be something trivial such as a visitor tripping up on a loose wire in your office or something more serious – either way public liability insurance will make sure you are covered.

If you require any assistance with your business insurance, then do not hesitate to get in touch with the All About Savings team. We can help whether it is regarding public liability insurance or any other aspect of business insurance and what’s more our service completely free of charge. Just fill your details into our feedback form or call the telephone number at the top of this page.

All About Savings has been building up nothing short of a sterling reputation when it comes to assisting all sorts of businesses (particularly SME’s in the United Kingdom) with business gas, business electricity and business telecoms. What some people may not be aware is that they are also quickly becoming the nation’s number one port of call for business insurance.

The ethos stays the same. Assist businesses when it comes to finding the very best business insurance rates in the land through a free, impartial and no obligation service. The All About Savings team use the very same skills that have made them such a force in the aforementioned areas to come up with the perfect solution and one that will ultimately save any business serious money.

It is a blueprint that has been working extremely well over that past six months and has resulted in thousands of businesses in the United Kingdom saving unprecedented amounts of money on their business gas and business electricity in particular. The business insurance aspect is something that the powers that be at All About Savings are very keen to push forward.

Our now famous panel of business energy specialists are equally adept at scouring the country for the very bust suppliers of business insurance. Of course there is no one size fits all approach to business insurance which is why our skills are of great use. As with all the areas we can help with, we will take care of all levels of bureaucracy so you can get on with making your business the success that you know it can be.

So, if you think you are paying too much for your business insurance or are simply fed up of your current supplier do not hesitate to get in touch with us today to get the ball rolling on a much needed switch over. You can call us on the number above or fill in our no obligation business insurance quote form and one of our friendly advisors will be in touch straight away.

The difference between and the ‘S’ and ‘M’ in SME is apparently confusing even the most experienced of brains within the insurance field.  Whilst brokers can offer personalised service and advice to these companies, no matter their size, to ensure they are covered in the best way possible, it would seem that businesses are heading down the faceless, online insurance route as a way to save time and money.  Whilst this may well be a more convenient way to get insurance for many companies, those in the know accept that it may not be the safest option as many SME head’s may not know what they are even covered for when it comes to calling upon their insurance.

It would seem that with the arrival of instant online quotes for personal insurance on cars and home insurance, business insurance is jumping onto the bandwagon, with Powerpalce leading the pack.  Powerplace says it is “…available to every broker [and it] can be a standalone marketplace accessed through a secure extranet. The extranet version also offers the opportunity for out-of-office quotes to ensure even better client service.”  So brokers can now simply and quickly place their client’s information into the comparison site and instantly have a number of quotes ready to offer.  But surely the client could do this themselves without forking out for the ‘middle man’ who it would appear is doing exactly the same thing?  It is true that with comparison sites and the ease with which businesses can get online, get a quote, pay for it and be insured it would appear easier and cheaper for an SME to do it themselves – so how can a broker compare?  Quite easily it would seem according to Peter Stevenson, the director for broker ‘Alan Stevenson Partnership’ who says: “I will only deal with people who are willing to take my views on board [as the] the average SME lacks sufficient understanding of insurance to make a good choice off their own bat. SMEs don’t understand insurance terminology, and they don’t understand risk. They think they don’t need to buy as broad a range as a broker proposes they should.”

So whilst it is easier than ever to get covered without a broker taking a cut of your earnings, there is also worry in the insurance field that with the use of these business comparison sites, brokers will be even less needed as those who use such sites will all essentially be offering the same deals as one another without any obvious differentiation.  National Insurance Guarantee corporation (NIG), a commercial insurance company, are a wholly owned subsidiary of Direct line which.  Direct Line still pride themselves on their unique way of offering their service and refuse to appear on comparison sites thus keeping them ahead of the game when it comes to the idea of offering personalised insurance.  It is this unique selling point which brokers may eventually find themselves missing if they all turn to Powerpoint and its similar rivals for all their quotes.

But far from seeing this as an issue, Paul Evans from Total Objects claims that such platforms will be the next logical step for brokers as they try and compete with the “high volume, low value” nature of the online, comparison industry. And whilst this route allows brokers to compare the ‘inner limits’ of all the compared insurance results, it does not of course offer the traditional personal nature of the brokering industry which was built on searching for a finding the ideal fit for the client through the use of schemes.  These schemes are no longer a viable or accepted option of insurance due to the longer term, upfront work required to create them (when copared to five minutes on a comparison site) with no guaranteed long term value.  So it would seem if brokers are to keep up with today’s demanding market, they will require more of an ‘If you can’t beat them join them attitude’.

It is finding that middle ground though so that customers can still see the value in using a broker, over the comparison sites alone.

An on-going issues for many SME’s is the need to cut costs during this rocky economic climate with many opting to downgrade their insurance as a simplest form of money saving.  Senior business advisor for Forum of Private Business, John Kilby, says that businesses come to him for tailored advice on insurance and finds many have “…cut costs to the extent that it might affect any benefits of having insurance – cost is the most important consideration for SMEs.”

A joint initiative between the Scottish Environment Protection Agency (SEPA) and the Met Office means that, for the first time, their combined hydrological and meteorological information are shared giving services and business who are most likely to be affected by floods can receive earlier, more accurate flood forecasts.

Initially intended for those key, flooding responders, such as emergency services and the local authorities, but the service is also available and useful for those who use SEPA’s general flood line service such as businesses in a floodplain or vulnerable to heavy rain. It offers them more time specific flood information to allow them the chance to move stock or source and sandbags for their premises. Commercial insurance is still highly recommended to cover flooding – no matter how accurate the information offered by the SEPA and the Met Office, it cannot give a 100% guarantee and shock floods must still be covered for.

Sectors such as energy, mobile phones, credit cards and current accounts are soon going to be forced to give their customers the personal information they hold for them in an attempt by the government to give consumers the power when it comes to choosing the best tariffs for them. The reliance on the company in question to offer the best deal, and the consumers own attempts to understand the complex tariff’s on offer currently mean that a huge percentage of customers across these sectors pay far more than necessary. It is due to this that these companies will be included in the Enterprise and Regulatory Reform Bill .

Under the new bill, not only must the information be handed over free, it must be offered in electronic format so that comparison sites can be easily filled in, finally handing the power to the customer. Although current rules through the Data Protection Act mean customers can have the information upon request, it is rarely in electronic form meaning that they still have to trawl through the maze of complicated information to try and make sense of it.

In terms of mobile phone tariffs, exact usage means the best mobile contracts can be offered to the customer whilst home owners could use the information to see when they use the most gas and electricity and find the cheapest option for them.

Whilst the government hopes to make a deal with the banks, power companies and mobile phone operators, they will be threatened with legislation if the progress became ‘unreasonably slow’.

Business Minister, Lord Marland, who announced this new power said, “[the bill will deliver a]…package of measures that will get rid of unnecessary bureaucracy that encumbers business…[and]…will improve the competition framework to ensure well functioning markets and that will advance business and consumer confidence alike.”

Finally, a step forward for the consumer.