As a small business owner, you may feel that you have to be a Jack of all trades when it comes to managing your practice – but often working with a professional can save you time, money, and your sanity.
As a practice owner you can’t be expected to know everything.
You will have an accountant to manage your finances and likely have a team of support staff to manage reception and admin work. You may also have an experienced mentor to help you with running a business. So why would you not seek professional advice when choosing your insurances?
“Very professional, prompt and staff are always there to help. All Med Pro have simply raised professional indemnity to an enviable standard. Will recommend them to all of my Medical/Dental colleagues.”
Sonny, Professional Indemnity insurance customer
The benefits of a professional broker
It is a common misnomer that insurance brokers offer more expensive insurance policies than price comparison sites or working directly with an insurer. It is also a misconception that they work for the insurer rather than the customer, so are not incentivised to offer you the best deal.
Here are some of the reasons that you should work with a professional insurance broker in order to save you money, admin time and ultimately, leave you with more capacity to run your practice.
- Brokers usually have access to insurers and policies that the general public does not, allowing for greater choice to find a comprehensive cover.
- They can quickly create a list of suitable insurance companies that will insure your needs.
- They often have access to special deals that you won’t get if you contact an insurer directly or use a price comparison site – which means you save money.
- A broker works for you, which means they have the responsibility to work in your best interests and will find you the best policy for your circumstances, at the best price. They also have a legal obligation to provide you with transparent, honest good advice.
- You only have to share your details with one company – your broker will do all the legwork.
- They have the expertise and set up to support you with your risk management processes to help your reduce your premiums. This could be recommending employee cyber security training or a liability assessment.
- They know all the questions to ask you to make sure you share everything they need to know to properly insure you – and make sure your risk is fully covered.
- A broker is almost critical if you have niche, hard to cover requirements, or if you have lots of previous claims.
Specialist brokers will give you professional, licenced and unbiased advice that is specific to your industry. Choosing a dedicated healthcare insurance broker, for example, with mean that you get a team with a wealth of knowledge about your practice, the industry, the risks you face and market rates to ensure that you and your business are properly protected.
Can you afford not to work with professionals?
Contact us to chat about your specific insurance requirements.