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  • Business Insurance, who do you use and why?

  • Jonathan Dray

    Member
    August 7, 2020 at 10:56 am

    Hi,

    Has anyone got any suggestions for competitively priced business insurance providers for our industry? Just looking to get some comparative quotes.

    Thanks.

    • This discussion was modified 5 months, 1 week ago by  Jonathan Dray.
  • Robert Lambie

    Administrator
    August 7, 2020 at 11:20 am
  • Chris Wilson

    Member
    August 7, 2020 at 12:23 pm

    +1 for sign elite. Least I know we are covered. Think we are around £180 a month. But all machines covered and if one caught fire we get a new replacement, not what the machine would be worth on that day second hand.

    According to them when we were with axa we were not covered as we thought we were

  • Colin Crabb

    Member
    August 7, 2020 at 3:40 pm

    Bespoke Business Insurance from Allianz, very happy and completely covered, approx. £700per year.

    Broke a £1000 ultra wide monitor last year, they paid out within 3 days.

  • Robert Lambie

    Administrator
    August 8, 2020 at 9:55 pm

    I am glad you are getting good cover from Allianz, @Colin-Crabb-1 i was with them for about 5 years and paid them a lot of money. I had a legitimate claim and they failed to pay out on a what is best described as a “play on words” on what their terminology of a sentence actually means. and when I mean a sentence I mean “3 words” so I am currently challenging their response to my claim. had this been a small claim, I recon they “might” have paid out to make me go away, but it’s certainly not a small claim. so I will see it till then end regardless of the outcome.

  • Colin Crabb

    Member
    August 9, 2020 at 11:53 am

    @RobertLambie Ahhhh… document wording…. Like the Business Interruption section in our policy that doesn’t seem to cover C19 lockdown as an interruption according to the wording…

    Been happy with them to be fair, only made the one claim and it was painless and simple.

  • David Wilde

    Member
    August 9, 2020 at 3:55 pm

    +1 for sign elite. Yet to need a claim but they understood our needs perfectly.

    Also had big problems with Allianz. Over 5 years premiums paid and it turns out we were covered for next to nothing. They left no straw unclutched in trying to avoid paying out even when they were bang to rights. The week after they did pay out, they sent an assessor to our building demanding we made over 20k worth of ridiculous and unnecessary ‘improvements’. Policy also ran out that week. We didn’t renew.

  • Jonathan Dray

    Member
    October 1, 2020 at 10:09 am

    Thanks guys. We ended up using a company called NIG in the end.

  • Robert Lambie

    Administrator
    October 3, 2020 at 10:26 pm

    What did you find they offered over other insurance companies, Jonathon?
    Or was it down to price?

  • Hugh Potter

    Member
    October 5, 2020 at 11:18 pm

    Using Sign Elite (Real Insurance brokers) for our Commercial combined (everything except vehicles… so Liabilities, stock, tools, computers etc.) and our motor trade policy – which every signmaker should really have if they’re moving customer vehicles.

    Both policies are with NIG and come to around £2100 a year.

    I used to think SE were expensive, having received a quote previously but, when you actually check what you’re covered for, it’s worth the extra. We’re not properly covered.

    Things to consider…

    Are customer vehicles insured when left in your unit overnight?

    Are your own vehicles at retail indemnity, not trade value?

    Do you have enough cover to fully replace that £45k Mercedes truck you’ve just driven?

    Are your tools covered whether let in the van, workshop, or on site?

    Does your insured amount actually cover you for everything you may lose in a fire?

    I think as standard we have £5m PL, £50k road risk with option to increase on an individual vehicle basis, ie we get a £200k lambo we can up it for the duration of the time it’s in our care for a measly sum. Also worth considering… if you lose everything and submit a claim for £70 to replace everything (stock, pc’s, printer, cutter, tools, fixings, etc. etc. ) but you’re only actually insured for £35k, then you are 50% under insured (for eg.) you’ll be penalised for under insuring and they’re within rights to only pay out 50% of your insured amount, so you’d be lucky to see £17.5k.

    Think about it! Too may people scrimp on the insurance. I know a few ign shops running on personal business vehicle insurance, and an £80 PL policy from go compare, or the like!

    It’s one of those things that just isn’t worth getting wrong.

  • Robert Lambie

    Administrator
    October 6, 2020 at 1:10 am

    Some very good points made there Hugh. You have actually made me twig on a couple of things I need to check.

    As I said, I went all out and paid for everything top-notch. Made one claim in all the years I was with them and got told I wasn’t covered! Sore one to swallow and I am still fighting out the bit.

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