What exactly is a Commercial Insurance Broker?

It is the mission of the commercial insurance broker to connect businesses requiring various forms of insurance with the most suitable insurance companies. It’s a fact that not all insurance companies advertise their different levels of cover on their websites or comparison sites, so it is the job of the broker to investigate further and find the right policy for you. Thompson Insurance Brokers is an independent insurance brokerage that provides tailored solutions to fulfil every insurance requirement for every type of business, from start-ups to SMEs to multinationals. We have a dedicated team of highly experienced brokers, each of whom has many years’ experience of arranging consistently dependable insurance advice and policies for a wide range of satisfied clients. Of course, expert commercial insurance brokerage requires a great deal more than merely finding the right kind of insurance policy. Doing the job well involves close analysis and accurate assessment of the specific needs ad risks of each individual business. Naturally, policy price also plays a part. For an insurance brokerage to be successful, its team must offer a keen combination of a wide range of skills, including expertise in sales, finance and underwriting. Most of all, a great commercial brokerage team know that forming strong relationships with their clients is of utmost importance.

So, why do you need a commercial insurance broker?

There are three main reasons that businesses need specialist commercial insurance brokers.
  • Expertise. Firstly, and perhaps rather obviously, commercial insurance brokers really understand commercial insurance. Choosing specialists in this area of insurance means undergoing meticulous analysis of all the potential risks your company faces. This is not something that can be guessed at. It requires specific training and ideally, many years of practice.
  • Savings. The fact is, insurance companies will very often charge more money when selling directly to companies because a) they can, and b) insurance brokers know how to choose the right policies, meaning that ultimately, fewer erroneous claims are filed. Plus of course, brokers have connections with many insurance companies and can therefore more easily find the most cost-effective solution. In short, hire the right brokers and you will end up saving money.
  • Protection. One very important thing to remember about business insurance is that if you make a mistake, it can cost you a lot more than mere money. Getting sued for being under insured can easily spell the end of your business. The best way, therefore, to ensure you’re never in that position is to make absolutely sure you have the right commercial insurance brokerage team working on your behalf.

At Thompson Insurance Brokers, we can help you figure out what insurance you need, choosing from the wide range of available products, including but not limited to the following sectors:

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