Are you prepared for your insurance renewal?
The next time you renew your organisations insurances, you could experience higher than expected insurance quotes and premiums, reduced cover or in certain situations, you may find it difficult to secure cover at all.
With the right approach, you can navigate these challenges to secure the right level of cover for your business or organisation in the most cost-effective way.
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With the right approach, you can navigate these challenges to secure the right level of cover for your business or organisation in the most cost-effective way.
Here are our top 5 tips to help you achieve this
- Start earlier than previous years. If your broker is not already talking to you about this, they should be. If you don’t have a broker or would like to have an exploratory discussion on what to expect, get in touch. A member of our team will be happy to share some of the vital steps you can take to help prepare your business for the current market conditions and improve your risk profile ahead of the crucial review period.
- No later than 3 months prior to your renewal. Avoid late and uncomfortable surprises!
- Already operating a well risk managed business? You’ll need to prove it! The amount of information now being requested by the market has changed significantly. In order for your business to present itself as an attractive proposition to insurers, you may have to provide more information. This is another compelling reason to start planning no later than 3 months prior to renewal.
- Plan your renewal strategy. At Griffiths & Armour we can develop renewal strategies for each client, ensuring the necessary information is prepared and in place well in advance of presenting to the market to secure our clients renewal terms. If you would like more information on our approach, get in touch with us.
- A solution for your business can be achieved. Adapting your approach to any changes in the insurance market is helpful for your renewal. Consider solutions like our exclusive facility, MULTI-TRADEPLUS+, You can discover more about how MULTI-TRADEPLUS+ is different and how it could benefit your organisation below.
How will MULTI-TRADEPLUS+ help my business?
Griffiths & Armour has designed an insurance facility to help our clients by providing insurance protection with a range of additional benefits. We call it MULTI-TRADEPLUS+ and some of the benefits included are listed below:
- Cost savings – by combining the entire premium value of the many clients already using the MULTI-TRADEPLUS+ facility, we use this as negotiating power with insurers
- Premium stability – our negotiating strength allows us to secure fixed future premiums on your behalf which are essential for your business to plan ahead with a degree of certainty in very uncertain times
- Exclusive policy wording – which means you could get additional cover at no additional cost
- Claims preparation costs – if an unpredictable event that leads to a claim occurs, your MULTI-TRADEPLUS+ policy will pay for support to help present your claim, saving you time and costs that would ordinarily be incurred by you when dealing with claims preparation
- ‘Any Driver’ Motor Fleet cover
- RMworks – access to our Risk Management online platform at no additional cost
- Dedicated Claims Advisor – no more being passed around from pillar to post. You can expect a dedicated point of contact in our Claims Management Team at Griffiths & Armour, on hand and ready to provide support when you need it most
To find out how our MULTI-TRADEPLUS+ solution and our general approach to securing cover for our clients, get in touch, and a member of our team will contact you shortly to find out about your circumstances and explain the options available to you.