Ask the Collective

What are typical business insurance costs and which brokers or providers offer good value for public liability and other business insurance?

Members report widely varying premiums depending on business type and turnover. One member pays £890 for public liability; others with production/distilling operations pay considerably more. The consensus is that insurance costs are broadly based on turnover, but it's worth shopping around and negotiating. **Recommended providers and brokers:** - **NFU Mutual** — Multiple members have switched to them and report better claims payouts and willingness to cover production/distilling operations. One member saved money on renewal after 8 years with the same broker; another switched after previous insurers repeatedly denied coverage on key items. - **James Hallam** (contact: Adam.Warwick-Baker@jameshallam.co.uk) — Recommended as a broker with good results. - **Federation of Small Businesses** — Suggested as a resource for insurance guidance. **Tips for negotiating better rates:** - If using a broker, ask explicitly what their commission/fees are—they may shave a discount off if you ask. - Members have successfully organised group purchasing deals through brokers, which can improve rates. **Additional cover to consider:** - **Directors & Officers (D&O) insurance** — One member flagged this as worth adding to standard business insurance. **Note:** Premiums vary significantly based on business activities (e.g., production, distilling, hospitality). Getting specialist brokers familiar with drinks industry operations appears to yield better outcomes and fewer claim rejections.