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How small businesses can benefit from working with an insurance broker

Midland offers a wide variety of services, from personal and risk insurance, through to property and business and even travel insurances. Whatever you need to secure, Midland has the product for you. Simply click on anyone of the listings to the right to be taken to the appropriate page. Or you can contact us for a no obligation quote or excellent advice on whatever it is you require.

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Key takeaways:

  1. Brokers are independent of all insurance companies, who act in your best interest and offer impartial and unbiased advice.
  2. Use a broker for their industry/sector expertise, identifying day-to-day business risks, and for tailoring an insurance package that meets your needs.
  3. Opting for a cheaper 'off the shelf' insurance policy is often not the best approach for insuring your business correctly - brokers can usually negotiate better premiums or conditions.  

Using an insurance broker means clear advice, more choice and a better price tailored to your business needs.

Small business owners tend to be born optimists – passionate, resilient and driven – but running a small business can certainly come with its own risks and challenges. That’s why it pays to have an insurance broker in your corner who can help accurately identify and protect the day-to-day risks your business faces.

Whatever business you're in, finding the right level of insurance should be top priority to ensure you are properly protected. However, insurance can be complicated to understand due to the broad range of risks businesses face, the various packages available and associated costs, and even the jargon in the contract and fine print that defines the terms & conditions.

'Using an insurance broker means clear advice, more choice and a better price tailored to your business needs'.

Price-conscious business owners usually believe if it is more cost effective going direct to the insurance provider. However this is often not the case, particularly with the multiple facets that are involved in operating a business these days.

'A broker ensures your claim in presented to the insurer in a clear and legible way to assist in a speedy settlement'.

A trusted adviser can add value to your business in a variety of ways that extend far beyond any initial cost saving you may find online. Some of these benefits include:

  • Market/sector expertise
  • Better rates
  • Accurate cover
  • Accurate valuations
  • Personal service
  • Unique offers
  • Access to specialists
  • Simplifying the fine print
  • Assistance with claims

In addition to the above benefits, specialised brokers (like Midland) can offer a range of value-added services such as assistance with claims, employee education and contract renewal support, all of which are often included at no extra cost.

'Remember, an insurance broker doesn't work for the insurance companies; they work for you and have a vested interest in the ongoing success of your business'.

Developing an ongoing business relationship with a broker can be of considerable benefit, but make sure you invest a little time and effort into finding one that's the right fit for you. Your broker should understand your future plans, the associated risks and how you like to do business. With those requirements ticked off, you can rest assured that they will continue sourcing the most suitable and most cost-effective cover that works for you and your business.​

Check out the below short video for more information... 

DISCLAIMER:
This article is informational only and should not be construed as individual advice as it does not consider your individual needs. You should consider if the insurance is suitable for you and read the Product Disclosure Statement or policy Wording before buying insurance.

How small businesses can benefit from working with an insurance broker

How small businesses can benefit from working with an insurance broker 

Key takeaways:

  1. Brokers are independent of all insurance companies, who act in your best interest and offer impartial and unbiased advice.
  2. Use a broker for their industry/sector expertise, identifying day-to-day business risks, and for tailoring an insurance package that meets your needs.
  3. Opting for a cheaper 'off the shelf' insurance policy is often not the best approach for insuring your business correctly - brokers can usually negotiate better premiums or conditions.  

Using an insurance broker means clear advice, more choice and a better price tailored to your business needs.

Small business owners tend to be born optimists – passionate, resilient and driven – but running a small business can certainly come with its own risks and challenges. That’s why it pays to have an insurance broker in your corner who can help accurately identify and protect the day-to-day risks your business faces.

Whatever business you're in, finding the right level of insurance should be top priority to ensure you are properly protected. However, insurance can be complicated to understand due to the broad range of risks businesses face, the various packages available and associated costs, and even the jargon in the contract and fine print that defines the terms & conditions.

'Using an insurance broker means clear advice, more choice and a better price tailored to your business needs'.

Price-conscious business owners usually believe if it is more cost effective going direct to the insurance provider. However this is often not the case, particularly with the multiple facets that are involved in operating a business these days.

'A broker ensures your claim in presented to the insurer in a clear and legible way to assist in a speedy settlement'.

A trusted adviser can add value to your business in a variety of ways that extend far beyond any initial cost saving you may find online. Some of these benefits include:

  • Market/sector expertise
  • Better rates
  • Accurate cover
  • Accurate valuations
  • Personal service
  • Unique offers
  • Access to specialists
  • Simplifying the fine print
  • Assistance with claims

In addition to the above benefits, specialised brokers (like Midland) can offer a range of value-added services such as assistance with claims, employee education and contract renewal support, all of which are often included at no extra cost.

'Remember, an insurance broker doesn't work for the insurance companies; they work for you and have a vested interest in the ongoing success of your business'.

Developing an ongoing business relationship with a broker can be of considerable benefit, but make sure you invest a little time and effort into finding one that's the right fit for you. Your broker should understand your future plans, the associated risks and how you like to do business. With those requirements ticked off, you can rest assured that they will continue sourcing the most suitable and most cost-effective cover that works for you and your business.​

Check out the below short video for more information... 

DISCLAIMER:
This article is informational only and should not be construed as individual advice as it does not consider your individual needs. You should consider if the insurance is suitable for you and read the Product Disclosure Statement or policy Wording before buying insurance.

Request A Quote
Midland Insurance Brokers Australia Pty Ltd
ABN 81 006 528 329 AFSL 238963
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