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The insurance industry is an ever-changing environment, which makes it difficult to keep up with current terms, processes and trends. We have put together a list of frequently asked questions to try and make understanding insurance a walk in the park. If you cannot find the answer to your question below, please use the form to send it to us and we will reply via e-mail.
Be Wiser Business Insurance are a trading brand of Be Wiser Insurance Services Ltd, which is an independent insurance broker regulated and approved by the FCA.
Since opening our doors in 2014 we have taken on over 4000 new customers.
Through dedicated teams of trained staff, we aim to make a customer’s journey as easy and swift from start to finish.
We sell a large variety of insurance policies, ranging from van and fleet policies, through to public liability and shop package policies.
Our staff will always focus on making the process as smooth and quick as possible for you.
With underwriters only a quick phone call away, we can even turn around most complex cases within half an hour.
All you will need to provide is some basic information about yourself, such as name and address, and information about the risk that you are looking to ensure, as well as your claims history.
We are sorry to hear that you need to cancel your policy. Please call our customer care team on 0333 003 3267 and they will be able to assist you through the cancellation process.
To renew your policy please call us on 0800 840 1942 and speak to one of our warm friendly advisors.
To make a claim, please call the customer services team on 0333 999 0841 and one of our advisors will take a small amount of information about your incident to process your claim.
If you have any further information regarding a claim, such as an inventory or any photos, we may ask for them to assist your claim.
Public liability insurance provides cover if a customer is injured on your premises or if you accidently damaged somebody else’s property when carrying out your work.
A typical example is when a customer comes into your shop and accidently trips on something and injuries themselves. A similar example is if your profession involves working on other premises such as a plumber or electrician and you accidently damage your customer’s property whilst on the job.
Public liability insurance covers the compensation and legal costs for any injuries causes to a third party as a result of your product. This includes individuals directly impacted by your product or any property damaged as a result of your business activity.
Liability insurance also covers the wholesaler if the producer is no longer trading. If the manufacturer no longer exists, you don’t want to be held accountable. On a similar note, you can gain protection for products that might be jointly liable where two parties are involved. For example, a mechanic that uses faulty parts from different car manufacturers or a handyman that uses defective tools made by different companies.
Professional indemnity insurance provides cover for your business if the professional advice you have given to a client causes a financial loss or burden. Also known as PI or ‘indemnity insurance,’ it is most common for service providing individuals and companies such as accountants, lawyers, engineers, doctors and consultants, to name a few.
All businesses are recommended to have some form of public liability insurance if they involve coming into contact with the public. Although not compulsory for private sectors, it can be more costly not to have it. If a customer wants to file a claim against you, it could cost significantly more in legal fees and compensation to resolve the case.
Self-employed professionals may also require public liability cover if they work from home and regularly have clients visit them or if their job involves them working in the premises of their customers.
To find out if you company is eligible, simply request a quote or give one of our advisors a call on 0800 954 9570. We will ask a few questions about your company, your industry and your claim history in order to help you get the cheapest public liability insurance quote possible.
Although employer’s liability insurance is compulsory by the government, there are some companies who are exempt. For instance, a company that does not have any employees does not need to be covered – including freelancers and sole traders. This means that an individual, who simply sets up a company via Companies House, doesn’t need to worry on day one about getting a policy or being fine.
In addition, those family businesses that only employ family members are also exempt from having an employers’ liability policy. Examples include family run restaurants and shops. There is a way to check if your company is exempt through the Health and Safety Executive website.
Professional indemnity insurers typically offer levels of cover ranging from £50,000 up to £10 million. The amount of level you require depends largely on the size of your business and the financial risk that your work poses to the client.
A good way to calculate how much you cover you might need is to estimate what could potentially go wrong for the client based on your advice and how much it would cost to resolve the situation. For instance, if a dentist charges a customer for braces treatment but they unsuccessful after a number of years, the dentist could estimate how much he requires to make things right. On a larger scale, the company could factor in the cost of legal fees if the customer makes a formal claim.
An MGA – Managing General Agent - is an insurance intermediary appointed and authorised by an insurer (underwriter) to accept and administer insurance on their behalf.
If you have any other questions that are not answered on this page, you may find them by clicking here.