Written by Michael Foote, Insurance and Finance ExpertMichael Foote is the founder of Quote Goat and has over 13 years experience working in the finance, insurance and currency sectors. Since launching Quote Goat he has appeared on TV as well as many of the largest online publications including Forbes, The Telegraph and The Metro. Prior to Quote Goat, he worked in finance in the city for a number of firms including HSBC.
Like moving to a new house, changing offices can be an extremely stressful experience. There’s so much to sort out and organise, that it’s easy to forget about some of the more important stuff, like commercial property insurance.
You need to decide whether you want to stick with your existing insurer, or whether you need to switch to another one. Below, we’ll look at the benefits of shopping around for commercial property insurance.
Why consider switching?
There are a lot of things which can affect the cost of your insurance. When moving offices or to a different commercial property, you could end up paying much more than you currently pay. Therefore, it could actually be cheaper to switch to a different insurer.
You could potentially save hundreds of pounds a year simply by shopping around.
How to shop around
So, now you know the basic benefits of comparing insurers, the question is how can you shop around? Is it the same process as shopping for car or home insurance for example?
Well, there’s a number of options open to you. Firstly, there’s free commercial property insurance comparison services like ours which work in the same way as when you go to compare personal insurance. However, there’s been questions over how trustworthy the deals presented on comparison sites actually are. It’s been revealed insurers have been paying comparison sites to appear higher on the search results. So, whether you’re actually getting the best deal, or whether you’re simply seeing the insurers who have paid the highest commission is debatable.
Another option is to make use of the services provided by companies offering serviced offices and commercial properties, they can also help you find the premises with the lowest insurance prices. Of course, it also saves you the effort of trying to find the best premises to fit your budget. As an additional bonus, all of the serviced offices available come with literally everything you need to ensure you can run your business effectively with minimum disruption.
Overall, when you are moving offices or switching to a different commercial property, it’s important to shop around for the best insurance prices. The above are just a couple of options available, but it is worth taking your time to ensure you’re also choosing the best property for your business.