Why Should I Use a Specialist Insurance Broker?
Most insurance brokers will have a good knowledge of several classes of business, it not usual nowadays for someone to work one industry only for the whole of their career. This is great from a personal development point and suitable for most trades however may be a consideration for you when presented the choice between a specialist to your industry and a general insurance broker.
Advantages of a specialist:
Has good knowledge of which insurers are able to quote for the specialist type of business.
Has the expertise to know what questions to ask and what information insurers will need to quote.
Has a good idea of how competitive your premiums are as they place lots of similar risks.
May have better relationships with the specialist insurers.
Advantages of a general broker:
May be local to you.
May have a better knowledge of other classes of business.
As they have less of the specialist type of business they may have no existing deals with insurers which means they could be more flexible as to who they approach.
There are bonuses and negatives for both but using an independent specialist, with good knowledge of general insurance would be my best bet for security firms.
Ultimately the most important aspect I always feel is the relationship between client/broker.
The above is an opinion piece by Golan, I am alway happy to talk and give advice or help if needed. Please feel free to contact me on 0800 7797 880