Why cheap insurance isn’t always the best insurance 

We all love a good deal. Whether it’s a discounted dinner or a budget-friendly holiday, saving money feels great. But when it comes to insurance – the safety net that protects your business, assets and livelihood – going cheap may come at a steep cost.

At QMT Commercial Insurance Brokers, we’ve seen firsthand how “bargain” policies can leave clients exposed when they need protection the most. Here’s why cheap insurance isn’t always the best insurance – and what to look out for.

The risks of low-cost policies

Cheap insurance often means more basic cover. It might tick the legal boxes, but it won’t necessarily cover the day to day risks your business faces. Here are some common pitfalls:

• Limited cover: Budget policies may exclude key protection like accidental damage or could have lower indemnity limits.
• Higher excess: Lower premiums can come with a higher excess, meaning you pay more out-of-pocket when making a claim.
• Reduced customer service: Cut-price providers may have less support staff, potentially leading to longer hold or response times.
• Additional fees: Some policies look cheap but may include additional charges for changes or cancellations.

Why it pays to invest in insurance cover

Insurance isn’t just a line item – it’s a strategic safeguard. Paying a little more for a policy could save you hundreds or even thousands in the long run. Taking care when choosing your insurance policy can provide:

• Peace of mind: Knowing you’re covered for the unexpected, not just the bare minimum.
• Well-rounded protection: Policies that have been designed to meet the needs of your business.
• Responsive support: A broker who’s there when you need them, not just when it’s time to renew.

How QMT Commercial helps you get value – not just price

At QMT Commercial Insurance Brokers, we don’t believe in one-size-fits-all cover. We take the time to understand your business, assess your risks and recommend policies that suits your needs and budget – without cutting corners.

We’re here to help you make informed decisions, not just fast ones. That means:

• Clear explanations (less jargon, less waffle)
• Straightforward advice about what you really need
• Ongoing support throughout your policy lifecycle

What you can do today

• Review your current policy for exclusions and limitations
• Schedule a catch up with our broker to discuss your insurance arrangements
• Consider the long-term impact of your insurance choices – not just the upfront cost

Cheap insurance might look good on paper, but when the unexpected happens, you’ll want a policy that actually delivers. Let’s help to make sure you’re protected – properly.

Ready to talk? Contact QMT Commercial Insurance Brokers today for a no-obligation review.