So you’re looking to insure your venue. Do you know exactly what cover you need, and what needs to be included in your policy? Do you know how you’d negotiate a claim?
Whether you’re a nightclub, a hotel or a restaurant you have a responsibility to keep your employees and members of the public safe. You also need to make sure you’re covered for any bad luck life throws at you. With your business on the line, why wouldn’t you trust an expert to make sure you’re properly insured?
Of course, there are countless insurance brokers out there. But there is a key difference between these brokers and independents. Read on to find out why your venue could benefit from working with an independent insurance broker.
1. An insurance broker will save you money
Insurers know brokers are trained to assess risk and offer impartial advice on the best possible policy for the customer. In return, they offer favourable prices. The benefits of the insurer-broker relationship is a two way street and the customer always reaps the rewards.
Independent insurance brokers go one step further. Independents aren’t limited to using one or two selected insurers. They can properly assess the market to make sure you get the most competitive price. Specialist insurance brokers such as NDML have strong relationships with more niche insurers so whatever your needs, we can find the right insurance for you.
2. An off the shelf policy might not cover your venue
Every nightclub, hotel, bar, casino or restaurant will have different risks. An insurance broker will assess these and advise on the right policy. Brokers will also advise on how to mitigate these risks, helping you to avoid needing to make a claim in the first place.
A specialist independent broker like us lives and breathes the late night leisure industry. We know how to identify and insure your individual risks, because we take the time to really get to know your venue. From face to face visits through to risk management training, we’ll become an integral part of your business.
3. An insurance broker knows the regulations
The Insurance Act states you should make a fair presentation of your risks to your insurer. But do you know what a “fair presentation” involves? Help is at hand when you choose an insurance broker, who can help you to navigate the regulations and legalities.
Take it one step further and choose a specialist independent broker that not only knows the insurance industry inside out, but knows the leisure and hospitality sector like the back of their hand too.
4. An insurance broker will help you to make or defend a claim
Someone might make a public liability claim against your venue, or you might need to claim for contents damage. Whatever the situation, your business will rely on your policy to help save the day.
Claims often run into enormous figures. Insurers can challenge their validity. They could offer a less-than-expected sum. How would you negotiate and counteract this without expert help?
Insurance brokers will fight your corner. They’ll demonstrate you did everything in your power to prevent the incident. And they’ll present your claim so you have the best chance of receiving your full pay-out. If your broker is a specialist in your sector then that’s even better!
5. Have a team of experts at your fingertips
When you work with an independent insurance broker, you have the benefit of advice and expertise whenever you need it. Consider your broker an extension of your business. Not only will they help you to navigate the often complex world of insurance, they’ll help you spot and mitigate risks.
At NDML we love visiting our clients and we’re proud to say we have a strong relationship with our customers. It’s not all about facts and figures – we genuinely enjoy getting to know our customers and offering them a great service experience.
We bet you don’t get that same level of service when you fill in an online quote form.
Are you ready to take the leap of faith?
The vast majority of our customers work with us year on year to help provide cover for their venue. Trust us to help cover your business whatever happens. Contact the team for a chat.