While some insurances provide a prepared package for you to purchase, there are reasons as to why we specialise in a bespoke service and offer that service to our customers.
Even though bespoke insurance may not be seen as frequently, the benefits you reap from a bespoke service often eclipse premade policies when they’re compared to one another.
Of course, each industry area differs in terms of the speciality of what they exactly offer. But in a general basis, here are just a few of the benefits you can reap.
Tailored to you:
Often, insurance policies don’t put your needs at the focal point. Instead the main importance is that they target as many customers as they possibility can, this means, however, that you are paying for coverage that may not be applicable to you.
With a bespoke package, your individual business needs are taken care of. Regardless of what they may be, tailored packages will offer you a flexibility that is unseen on standard packages. Once you’ve built your unique policy with the help of your broker, you’ll be able to include or remove any aspects of your policy that is no longer applicable or useful to you – this flexibility is an aspect of bespoke insurance that you don’t see in mainstream packages, and is often one of its major selling points.
Cost-effective:
When you first look for insurance providers, it can be tempting and easier to go with the policy already established. However, it’s important to note that their policies can leave you vulnerable to corporate instances you may have not taken into account.
By arranging a bespoke policy, you’re not just getting a tailored policy built for you, but you’re also saving yourself money through not buying cover that you don’t need.
Advice:
When creating a bespoke insurance policy, a professional broker also comes with it. Typically, you’ll develop a professional 1-2-1 relationship with a broker within the niche of your business – whereas, if you were to buy a standard, one-size-fits-all policy, you may not receive the attentive help and advice that so often comes with the bespoke service.
This isn’t to negate the work that direct insurance policies do but often, off-the-shelf policies are more general, the brokers won’t know the intricacies of your niche like a bespoke broker would.
The benefits you get in return should be superior to off-the-shelf policies – and with this, you can see how although bespoke packages may have a higher upfront premium, it tends to benefit the companies who choose to invest in the bespoke option.
At the end of the day, if you can invest that money into your business then it’s going to pay off.