Commercial Insurance Brokers and Financial Services

There are many different types of commercial insurance policies that businesses can purchase to protect themselves against a variety of risks. Some of the most common types of commercial insurance policies our brokers look after include:

• Public and Products Liability Insurance: This type of insurance covers businesses against claims of bodily injury and/or property damage. It is often considered a foundational policy for businesses of all sizes and types.
• Property Insurance: This covers physical assets such as buildings, equipment, inventory/stock and supplies against damage or loss from fire, theft or other covered perils.
• Business Interruption Insurance: Coverage for lost income and other expenses incurred when a business is unable to operate due to a covered event, such as a natural disaster or equipment failure.
• Professional Indemnity Insurance: This is coverage for businesses that provide professional services, protecting against claims of negligence, errors or omissions.
• Commercial Motor Insurance: Coverage for vehicles owned or used by a business.

These are just a few examples of the many types of commercial insurance policies available. The specific insurance needs of a business will depend on various factors, such as its size, industry and risk profile. However, it's always best to consult with one of our commercial insurance specialists to determine the appropriate coverage.

If you are looking to obtain commercial insurance, the best way is to speak with one of our commercial insurance brokers. With their support, you can receive expert guidance on what type of coverage would best suit your business’s needs and determine how much coverage will be required.

The first step in securing commercial insurance is to have a detailed analysis of your business's risk profile by one of our commercial insurance advisors. This will enable you to choose the most appropriate level of cover for your unique circumstances and budget. When working with KGJ, it’s during this consultation that our specialists will clearly explain all aspects of the policies, including exclusions and limitations.

Once a suitable policy has been selected and agreed upon, it is important that premium payments are kept up to date, as failure to do so could result in cancelled cover.

Finally, reviewing existing policies regularly helps to ensure adequate levels of cover, as well as making sure that premiums remain competitive. This can be achieved through regular contact with your experienced adviser from KGJ.

Choosing the right commercial insurance for your business can be a complex process, but there are some key steps you can take to help ensure you get the coverage you need. Here are some tips:

• Assess Your Risks: Identify the risks that your business faces, such as property damage, liability claims and business interruption. Consider the size of your business, the industry you are in, and the specific risks that are unique to your operations.
• Determine Your Coverage Needs: Based on your risk assessment, determine the types and amount of cover you need to adequately protect your business. Consider the costs of potential claims and the level of risk you are willing to assume.
• Consider a Package Policy: Many insurance companies offer package policies that combine several types of coverage in one policy. This can be a convenient and cost-effective option for many businesses.
• Review Your Policy Regularly: Business risks can change over time, so it's important to review your insurance coverage regularly and make adjustments as needed. Make sure your coverage is keeping up with changes in your business, industry and the overall risk landscape.
• Consult With a commercial Insurance Broker: An independent insurance expert can help you navigate the complex world of commercial insurance and provide guidance on the best coverage options for your business. Get in touch with the experts today.

By taking these steps, you can help to ensure that you choose the right type of commercial insurance for your business and protect your assets against a wide range of risks.

There is no general legal requirement for businesses in the UK to have commercial insurance. However, some types of insurance are required by law or by professional bodies or trade associations, including:

• Employers’ Liability Insurance: Under the Employers’ Liability Act 1969, businesses in the UK that employ one or more people are required to have employers’ liability insurance. This insurance provides coverage for employees who are injured or become ill because of their work.
• Motor Insurance: If your business uses vehicles, you are required by law to have motor insurance that provides coverage for third-party injury or damage.
• Professional Indemnity Insurance: Some professional bodies or trade associations may require members to have professional indemnity insurance to cover claims of negligence or errors and omissions in the provision of professional services.

In addition to these requirements, many businesses choose to purchase commercial insurance to protect against a range of risks, such as property damage, liability claims and business interruption. If you’re looking to protect your business from any unforeseen circumstances, it’s important to consult a commercial insurance broker to find the best policies to suit you.

Reducing commercial insurance premiums is a goal for many businesses, but it can be difficult to know where to start. Thankfully, there are steps that you can take and resources available that can help.

One of the best ways to reduce your commercial insurance premiums is by working with a commercial insurance broker.

A commercial insurance broker will assess your current situation and then work with you on creating a package to cover your needs.

It’s important that all potential saving opportunities are identified so they can then be quantified early on before implementation begins. Once these numbers have been established, actionable goals may become clearer in regards to lowering associated costs related to the commercial insurance premium acquisition process itself.