Why do people get refused Business Insurance?
Often, being refused cover is no reflection on you or your business. Most of the businesses we speak to don’t quite fit the traditional ‘call centre model’ for enquiries. You’ll know already that finding insurance can involve answering a lot of questions. If one or more of those questions can’t be answered how the insurers would like it to be, that can result in you being declined for insurance altogether. Sometimes, ringing round more brokers and insurers just brings about the same result.
Sometimes the reason you get declined is something quite innocent, and it doesn’t make you that much more of a risk, such as:
- Lack of trading history – Start-ups are commonplace nowadays, but some insurers prefer to deal with companies with a proven trading history.
- Previous claims – You may have had claims in the past, but done something to address the problem. For example you may have suffered a theft claim but now installed a security system or relocated completely.
- Unusual occupation – If your occupation is unusual or you engage in a diverse range of activities, you may be declined insurance just because your occupation isn’t in the call centre or website’s drop-down list of standard occupations.
- Liability exposures – You may be involved in work that’s seen as high risk, and be declined cover without being able to explain how you manage your risks.
- Miscellaneous – We’ve seen many other reasons for insurance being declined, ranging from non-standard premises to new and emerging professions.
Why we’re able to help
Quite simply we don’t operate like a call centre. For many customers, the facilities offered by websites and call centres are just fine, but if you don’t quite fit the model, there’s a good chance you will struggle to find cover. We don’t work to standard lists of occupations and we don’t put all of our business with just a select panel of our preferred insurers.
Whatever you’ve been through so far trying to find business insurance, you can have a genuine two-way conversation with us. We’ll get to know your business, and ask you questions to uncover the full story behind it. We’ll then work with selected insurers to give them the full picture of how you operate and the risks that you face.
How we find cover for customers who’ve been refused Business Insurance
When you’re refused insurance elsewhere, brokers are obliged to refer you to BIBA (British Insurance Brokers Association). They are a public sector organisation, with a remit to help people find suitable insurance. When BIBA receive enquiries from people who have been refused cover elsewhere, they can help you find a suitable broker.
We work with BIBA as one of their chosen brokers for to help when businesses are refused insurance elsewhere. Our team are experienced specialists, who use their knowledge of the market and insurers, rather than selecting from a dropdown list. We listen to what you have to say about your business, and use that information to make a case to insurers to find you the cover you need.
In some instances we’ve even found cover for clients with the same insurers that refused them in the first place! That’s a testament to our attention to detail, and our commitment to representing your business positively to insurers. If you’ve been refused business insurance elsewhere, talk to us to see what we can do for you.