Public Liability > Public Liability Insurance > Public Liability Insurance agency transfer

How to pay less for your public liability insurance

If you want cheap public liability insurance one way is to find an insurance broker who will work on a fee rather than on a commission basis.

The rationale is simple: most public liability insurance policies require the same effort to administer whether the premium is £2,000 or £20,000. Yet the commission the broker earns is usually a percentage of the premium - 15% - 20%. Earning up to £4,000 for simply issuing a renewal notice and receiving payment strikes us as being inequitable, although some more complex risks do require specialist help and support of course.

For medium-sized public liability insurance policies, (from £1K to £20K therefore we offer a very simple option - which only applies to companies who already have public liability insurance not through our agency. (The policy may of course include employers liability and other extras)

Our Offer

• Instead of taking full commission we charge a fixed fee (£100 + IPT) each year - index linked.

• This fee covers us issuing renewals, including sending and receiving an annual wages declaration and a form requesting details of any changes to your needs and requirements at renewal: we will also provide advice/ help whilst the policy is in force.

• An additional fee of 2% of the premium will apply if payment is made by company credit card.

• If the commission we earn is less than £100 + IPT then we will take no fee but just the commission on the policy.

• We will send you an agency transfer form AND a proposal form for your current insurance company to complete.

Do you qualify?

• You must already have a public liability insurance policy in force and not be in default

• The insurance premium must exceed £1,000 + IPT. Naturally we are only too pleased to transfer policies of less value if you like our service and attitude but they will be on a commission basis.

• Certain complex risks may require more work than we can do for our set fee. Initially we are setting a limit of £20K premiums (before commissions are removed), but will look at premiums near to this amount.

• We must be able to transfer the public liability insurance policy to our agency. We don't have agencies with every insurance provider, naturally and some policies may be specially rated and we not being allowed the same rates.

If you don't qualify (or want to go down this route)

We have THREE other methods of obtaining quotations.

1. Our own per-capita public liability insurance quotation system - up to 10 people

2. Quote and BUY public liability insurance online through our IPRISM powered insurance quotation system

3. Request a public liability insurance quote on a wages/ turnover basis.

Limitations

• Under no circumstances will we be liable should a claim be turned down due to your failure to disclose material facts or the negligence of any third party in arranging the policy prior to the transfer of agency.

• Should the proposal form reveal significant changes in the risk, resulting in an additional premium then we will charge a fee of £50.00 i.e. increase/ refund the commission as appropriate.

• Should the proposal form reveal significant changes in the risk resulting in a return premium then we will refund the return premium but make a full deduction of the commission we have to rebate to the insurance company.

If you are interested in saving money on your public liability insurance through an agency transfer please call us on 0844 8262618