Newsroom and Blogs

5 Reasons To Go Online For Business Insurance

Blog Single

Travel agents and stockbrokers had a monopoly on advice and the only channels for their respective services. They were lucrative businesses. Their owners benefitted by keeping things complicated and mysterious. Their reward was high fees and commission.

Then the internet came along. Now we book our own holidays and buy shares online.

A survey amongst SME business owners (sole trader included) in Australia showed that the traditional insurance broker channel is declining. It was down from 40% in 2013 to 31% in 2016.

In the same three years, getting small business insurance quotes online has increased from 20% to 27%. It is the second most popular channel now. Online is set to overtake traditional insurance brokers in the coming years.

So, why should you buy business insurance online?

 

1. Ever Buy NZ Insurance for a Business on the Weekend or Evening?

Very few traditional insurance brokers and insurance companies operate on weekends or after 5pm on weekdays. But that’s the time when most small business owners catch up on paperwork. The internet is available all day and every day for small business owners to get a simple insurance quote online using an online calculator to compare insurance premium.

 

2. Who Can I Turn to For Business Insurance Advice?

When seeking general insurance quotes, most traditional insurance brokers are acting as agents for commercial insurance companies rather than as an agent for you. This can bring conflicts of interest into the relationship when seeking advice insurance for businesses.

A recent survey by Vero in Australia showed that small business owners turned to insurance business brokers for advice in only 18% of cases. When you buy online, you can still turn to your trusted advisers, such as accountants and business associations, for risk advice. Then you can make up your own mind on where to go for small business insurances.

 

3. Who Likes Filling in Forms?

Most biz insurance brokers will provide two or more forms to fill in – one for material damage cover and another for public liability insurance. That requires small business owners to tell them who you are multiple times. Who wants to waste their time doing that? When buying small business insurance online, you are only asked once and in plain English. Fewer questions means a smarter process.

 

4. Would You Like to Buy Business Insurance for a Small Business in Minutes?

Buying insurance for businesses the traditional way is slow, very slow. It can take days at a minimum and often stretches out to a week to get an insurance quote from a traditional insurance broker. Add more time to buy and pay and to receive confirmation of cover and you’re looking at weeks to finish the process. Getting an online insurance quote comparison and buying business insurance online is fast. Within minutes you can get several New Zealand quotes and pay from your bank account, credit card and debit card. You’ll receive your insurance certificate of currency, by email, straight away.

 

5. How Do I Save Money on Business Insurances?

Cutting out the traditional middleman who only contacts you at renewal time has got to bring savings. If your traditional insurance broker is not providing tailored advice and reviewing your business insurance needs annually, you might as well take control yourself.

Buying insurance online lets you get small business insurance quotes NZ wide, cutting out the insurance extras you don’t need. Tailored business insurance, lower fees and less commission means you’re on the way to the cheapest insurance NZ has to offer, with the best indemnity value.

Being able to compare insurance NZ wide at any time, it’s clear why betting an online insurance quote is smart, trusted and increasing in popularity.

We always advise customers to read the policy wording so that they understand the terms and conditions, indemnity insurance meaning and cover for loss incurred. This includes definitions around accidental damage and how much and when they have to pay an excess at the time of making a claim.

If you’re looking for the best insurance quote NZ and you’re keen to insure online, then get a quote now.