Helping SMEs With Insurance

With nearly 30 years’ of industry experience, I know that insuring an SME is not an online, tick box solution.

There are many risks that need to be accounted for when insuring an SME.  Some of these risks will be standard trade risks that can be found in businesses in your industry sector but as no two businesses are the same, you may also have risks that are unique to your business which will give you unique insurance needs.  Very often these are overlooked. 

I will take time to understand your business and how it operates.  By working together from the outset, we will complete a comprehensive risk review discussing areas such as customers, suppliers and products handled. 

Whether you are a wholesaler, distributor or service provider, if your annual turnover is over £1 million, I can help you to find the correct solution for your business.

Key Areas of Discussion

  • Material Damage – Protects your business premises, contents, equipment and plant against loss or damage caused by fire, flood, storm, theft.  
  • Business Interruption – If your business is unable to operate as a result of a material damage claim, this policy feature will replace lost profit as well as cover additional expenses incurred to keep the business trading.
  • Employers Liability – This is a legal requirement for most businesses and covers legal costs and potential awards if an employee suffers from illness or an injury whilst in your employment.
  • Public Liability – If someone (other than an employee) suffers from an injury or their property is damaged at your workplace or when you are visiting them, this will cover the resulting legal costs and potential awards.
  • Products Liability – If someone (other than an employee) suffers from an injury or property damage caused by a product you have made or supplied, this will cover resulting legal costs and potential awards.
  • Goods in Transit – Protects your goods against damage whilst they are being transported from one place to another.

Optional Cover Features

In order to shape a policy that’s truly tailored to your business, I will talk you through any optional cover options you could benefit from.  For an SME Insurance policy these could include, but aren’t limited to: Professional Indemnity, Contractors, Engineering Inspection, Motor Fleet, Directors and Officers, Group Personal Accident, Cyber.

The Target group of companies found ourselves getting very disillusioned with our previous insurance broker. We needed to find an insurance broker who would provide us with the complete insurance cover including some quite complex areas of risk within the construction industry.

After intensive searching we found Jo Spencer from Spencer Insurance, not only did she listen to our requirements, but she asked the right questions to enable us to ensure that we had the correct insurance at a competitive rate.

Spencer Insurance Brokers has changed how we approach our business insurance, we now feel that we fully understand the company insurance and we have a more comprehensive cover.

We would not hesitate to recommend the services of Spencer Insurance.

Alison Nye Accounts Manager - Target Structural Ltd January 24, 2018