Do you always go for the cheapest?

Given that insurance protects people’s businesses, and ultimately their livelihoods, we are surprised so many people buy purely on price. Sure, it’s smart to compare commercial insurance to find the best deal, in fact, we strongly recommend this. However, choosing an insurance policy – your businesses lifeline in a time of need – based on the ‘very cheapest price’ simply doesn’t make sense.

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Do you always go for the cheapest? Does a 25p tin of soup taste like Heinz? Does a £25 pair of shoes offer you long term value? How much would you be willing to pay for a suit to the get the job of your dream – £50, £75, £200? What makes a Pirelli different from a budget tyre? Is it ‘just’ the price? Taking the cheaper option in some situations may make perfect sense. But when it comes to your business’s insurance, we urge you to look past price.

Price is just a number. Cost, however, is a different animal. Cost looks further than a number, it looks at the overall value, benefits and you’re of protection. When you ask 1st Choice Insurance for a quote, we compare commercial insurance quotes from over 40 leading insurance brands. All backed up with our award-winning premium service. Here are 4 reasons why taking the cheapest insurance policy could ‘cost’ you more than the original financial saving.

  1. Are they an A-rated insurer?

Odds are they won’t be. Taking the cheapest insurance policy could mean you are placing your trust in a company that has no proven credit rating or financial security. So, what would happen if they ceased trading? Would you lose your policy and lose your money? We have seen this happen a few times!

  1. Are they FCA compliant?

Placing your trust in a business based outside of the UK could mean you are signing a contract that offers no real guarantees at all. Maybe they are a company who is involved in very unscrupulous practices. Think of the old-fashioned car salesmen with the shiny shoes and annoying grin.

  1. Does the policy meet your needs?

All policies have a mixture of policy excesses and endorsements. These are essential guidelines and rules you agree to, that the underwriter will follow to determine a pay-out. If the contract you are entering does not meet the needs of your businesses and fails to provide the right level of cover, you may find it’s not even worth the paper it’s written on. Another wasted tree!

  1. Who is the insurance broker?

Of course, we cannot discredit other brokers, we don’t have to! But we can say we have spoken to 1,00’s of customers who have been so impressed with the level of service we offer. We have great customer reviews, we are fully compliant, we are trusted to provide policies on behalf of the biggest names in insurance, and we have won Midlands Commercial Insurance Broker of the year 2019 and 2018.  Please use due diligence when choosing your insurance broker. It can make a real difference!

Can we compare commercial insurance for you?

We are one of the leading commercial insurance brokers’ in the UK who has growing organically due to building a great reputation and having access to the most competitive deals. We offer great value and low prices, you may find slightly cheaper, but we offer better value! We also trade as an independent family business and have been awarded advisor status – so our team offers great advice, not just ‘salespeople’! Please feel free to call 01743 770505 or click below to get a quote or arrange a callback. We are happy to help you compare commercial insurance and find the very best deal!

Get a QuoteorCall 0800 078 7004