It is important to realize that any type of charity, whether voluntary or not-for-profit, could save money on their liability and charity insurance premiums. Help could be available for everyone, from registered charities with hundreds of employees to smaller community and volunteer groups.
These simple, but effective tips will help you save money on your charity insurance. You don’t have to sacrifice coverage, excess or service.
When searching for Charity Insurance, the first tip is to find an insurance provider that truly understands your needs. You can buy a policy that fits all, but will it provide the coverage you require? That is ultimately what your charity or organization needs. So make sure to use an insurance broker or company that understands your needs, can give you guidance and advice aimed at reducing risk and has the ability to customize a policy to meet your needs. This can also reduce your premiums.
If you think that using a Charity Insurance specialist will result in you getting the best insurance coverage for your charity, then how do you find these so-called Charity Insurance experts?
The internet certainly makes this easier. A simple search with a search engine will likely yield a list containing experts in all kinds of insurance. A company claiming to be experts in charity insurance is not a guarantee. It’s best to call them and ask them questions. Ask questions, not wait for them to answer. You will learn what makes them so good and what you can do to benefit from their expertise. Ask questions such as: Who are they using? What is their experience in providing charity insurance? How many years of experience do they have in providing charity insurance? This will increase your chances of getting the best charity insurance for you organization – even if your insurance premiums aren’t.
A tip that could help you save money on charity insurance is to try something which may seem odd at first, but it’s possible it will work. Tip number 2 is to honestly answer any questions about your current insurance costs. When asked this question by an insurance company, or broker, most people won’t answer. People believe that they will not get the best possible quote if they do so. You are much more likely to get the best price if there is a company that has the lowest price. However, it doesn’t mean you have to set a price. If the price is too low, the insurance provider may know and will not be able beat it.
These two simple but effective tips will help you lower the cost of your charity insurance. It’s worth a try.
Mark Burdett is the Marketing Manager at Northern Counties Insurance Brokers – UK Social Welfare Insurance Brokers & Charity Insurance Experts. He has created a guide on how to find affordable Charity Insurance.
Mark Burdett is Northern Counties Insurance Brokers’ Marketing Manager. Mark has more than 17 years of experience in marketing the Financial Services industry. He has been involved with campaigns for companies such as Norwich Union, Kia, and Zurich.
Mark is now based in Newcastle upon Tyne and works as Marketing Manager for Northern Counties Insurance Brokers, one of the UK’s leading insurance brokers.
Northern Counties has been providing Business Insurance for businesses since 1928. They can be reached at 0191 482 1219 to discuss your Commercial Insurance or Business Insurance requirements.