Do You Need to Renew Your Current Insurance Policy or Policies?

Having an insurance policy that works for your specific business is essential when it comes to protecting your interests. The more comprehensive your policies, the more you can rest assured that should something happen, your business is in a position to weather it. 


Whether you’re a small, medium or large business, you’ll likely have several key policies. While some of these are required by law, others just make financial sense for your business. These might include:


 – professional indemnity insurance

– product liability insurance

– employers liability insurance

– buildings and contents cover

– vehicle or fleet insurance

– business travel insurance


Insurance is a key pillar of any organisation, similar to HR, finances or a health and safety policy. Just like these things, an insurance policy isn’t something you can just leave indefinitely once it’s set up. As your business changes, so will the potential risks it might face. Your insurance policy should grow and change with your business, which is why revisiting your policies is an essential consideration for any business owner.

Check Your Documentation


Your insurance policy documents should contain information about when it is time to renew your policy. Some insurance policies are set to renew automatically, however, if you have opted out of auto-renewal, you’ll need to make sure you give plenty of time to review your policy before it ends. You don’t want to be left without cover for any amount of time, no matter how small.

That being said, you don’t have to wait until it’s time to renew your policy to think about whether it’s working for you or not. 

Renewing Your Insurance Policy


When renewing your policy, it’s a great time to consider whether your existing cover still meets your business needs.

Perhaps your business has changed a lot since you took out your policy. Your insurance cover might not reflect those changes. For example:

"From a customer service perspective, they have made it impossible for us to look to go anywhere else. No problem is ever too big and no call is ever inconvenient. I have recommended Brunel to a number of my contacts." - Engineering client, Brunel Insurance Brokers

We are truly independent, meaning we can go to the whole market seeking the best deal for our clients.

We have been awarded Chartered status. This is testament to our expertise, industry knowledge and excellent client service.

Our in-house claims team will deal with any claims that may arise in an efficient, personal and professional manner, leaving you free to continue with the important work of running your business.

We are the right people for you

Lets work together

If Your Company Has Grown in Value…


The level of cover you have needs to correspond to your company’s value. If your company is worth more now than when your policy began, should something happen, the amount you could receive might not match up to where your business is now.

If You Have Moved or Changed Your Work Space…


Perhaps you have taken steps to upgrade your offices or moved to a new location. Your old building and contents policy might not provide the right cover. If you needed to rebuild or replace anything, you might end up paying out of your own pocket.

If You Have Introduced New Products…


Does your existing product liability cover account for any new product lines you might have added since taking out your policy? Especially if the products are significantly different (whether in value or nature) from your current lines, ensuring they are covered is key.

We are the right people for you

Lets work together

If You Have New Contracts With Different Suppliers or Clients…


Some contracts will require a certain level of cover or insurance that your current policy doesn’t have. It’s important to make sure that you’re meeting all your contractual obligations—that includes insurance.

Do You Need to Update Your Existing Policy or Take Out a Different One?


It might be that you’re happy with your existing policy and you just need to update it to reflect any business developments. You might also find that your current policy offers cover that isn’t relevant to you, in which case, amending it to remove these elements could reduce your premiums. 

The insurance industry is competitive. You may find that by shopping around, you can get the coverage that you need.

The most important thing is to make sure any insurance policy you take out is tailored to you and your business needs. That way, you can rest assured knowing you’re fully covered, and you won’t find yourself paying for things you don’t need.

A reliable insurance broker can work with you to help determine whether your existing policy is doing everything you need it to, as well as offer advice on how to find the best cover for your business. If you’d like advice and support on your insurance renewal, speak to one of our specialist brokers on 0117 325 2224 or email A member of our expert team will be happy to help you.

We are the right people for you

Lets work together

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