Most people in business would agree it’s good to plan ahead. To do this, it’s important to know what your costs are going to be, which includes insurance.

With insurance premium tax rising to 12% in June, and there being talk of business insurance premiums increasing as a result of how serious injury compensation awards are made, it’s important to ensure you are budgeting correctly for your insurance renewal.

The problem can often be that by the time you have received your renewal quote from your broker or insurer, it’s too late to get an alternative price. To fully review the insurance needs for a business, request quotes from insurers and have time to fully consider the merits of each quote received, which can take several weeks from start to finish.

If you have an insurance renewal due in the next quarter, now is a good time to start thinking about getting an alternative quote.

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