Most articles about insuring business and private assets tend to focus on the different types of policies that are available and the merits of each one. In this short article, we are going to look at the insurers themselves and how to evaluate them, rather than the products that they sell. It does not matter whether you are interested in obtaining UK vintage car insurance or you are looking for a firm that can provide cover for commercial vehicles such as fork-lifttrucks, the evaluation process is the same.
Search for online reviews that have been submitted by existing customers. The experiences of existing customers can tell you a lot about a firm with which you are thinking about doing business. However, if you come across just one or two negative reviews, or just a couple of positive ones, you need to bear in mind that they could have been submitted by the company in question or their competitors. You need a fairly large sample size in order to draw any meaningful conclusions about the insurers you are evaluating.
Call each provider and ask to speak to a sales representative. See how quickly you are put through to the right department, how welcome your enquires are and whether the sales representative who you speak to is very pushy or not. All these factors can help you to ascertain whether you are dealing with a professional company in good standing or one that is just trying to create as much turnover as possible. There are many excellent vintage car insurance companies and firms that cater to commercial clients so there is no need to settle for second best when looking for providers that operate in your part of the world.
Study the terms and conditions of each policy that interests you. You can tell quite a lot about a company’s attitude towards it clients by studying the T&C they apply to their cover. Whilst a certain amount of legalese is unavoidable, if the conditions appear to be unfairly biased in favour of the insurer, it is probably a good idea to look elsewhere for your cover. The highly competitive nature of the industry means that it should be relatively easy to find an alternative supplier if the one you are considering is not to your liking.
Do they specialise in one particular field? Find out if the insurers that you are evaluating cover all sectors of the market or are focused on one particular area. Those that specialise may offer cover that is better suited to your needs. If you require vintage car insurance from UK providers, you may well find that insurers who concentrate on the classic car market are able to meet your requirements more easily, at an attractive price.
Whilst it is obviously important to check the details of any policies that you are considering, evaluating the companies that sell them is also essential if you want to be sure that they can deliver on their promises.