Staying on top of costs

Commercial Insurance from Shearwater Insurance

With the cost of crisis starting to bite, taking care of the money in your pocket has become a key priority for many.  With prices on the rise, insurance companies have also been affected with many seeing significant rises in their insurance premiums.

What can you do to help keep your costs to a minimum?

Managing Costs

As we all look to tighten our belts businesses and individuals alike look to see where they can save money.  

Before cancelling your monthly Direct Debit for insurance speak to one of the experienced, and helpful, brokers at Shearwater about the finance options we have available to customers. 

Despite monthly payment options easing the burden of a chunky single payment the interest costs and put the total cost of insurance up.  Where possible look at annual payments to reduce interest charges.

Use a Broker

As an insurance broker we’re duty bound to find our customers the best possible pricing options.  Shopping around may result in a better price, however since the FCA introduced their loyalty premium ban in 2022 insurers are prevented from charging existing customers more than new customers.

Speaking to a broker can also result in other cost savings.  Subtle changes in your policy details can often result in reductions in premium.  Consider adding policy restrictions, such as annual mileage limits, changes to who can drive vehicles, and excesses.  Adding a higher excess or taking an option for co-insurance can help to reduce premiums.

Don’t Double Up

Look at what it included in existing policies and memberships.  Various policies and memberships may include public liability as standard, and you may therefore have the same cover in more than one place.  A conversation with your broker or insurer to remove this may result in cost savings.

Contact Us

Keen to discuss your insurance options?  Request a call back and a member of Shearwater's specialist equestrian brokerage will be in touch.