In the world of insurance, a good broker is more than just a middleman; they are a trusted advisor, a diligent researcher, and a fierce advocate for their clients. At Morgan Insurance Brokers, we take pride in going above and beyond to secure the best possible deals for our clients. Recently, we had the privilege of saving a local Brisbane roofing company a staggering $60,000 on their public liability insurance premiums.

Here’s how we did it:

Understanding the Client’s Needs

Our journey began with a thorough understanding of the roofing company’s specific needs and challenges. Public liability insurance is crucial for roofing companies due to the high-risk nature of their work. Any misstep can lead to significant financial liabilities. The company had been with their previous insurer for several years, and while their coverage was adequate, the premiums had steadily increased to an unsustainable level.

The Power of Remarketing

Recognising he need for a more cost-effective solution, we decided to remarket the company’s policy. Remarketing involves reassessing the current insurance policy and presenting it to a wide range of insurers to find more competitive rates. This process is not just about getting cheaper insurance but about finding the right coverage at the best possible price.

Casting a Wide Net

One of the key strategies in our approach was sending the company’s insurance needs to the entire market. This meant reaching out to multiple insurers, including those that the roofing company had not previously considered. Our extensive network of contacts within the insurance industry allowed us to negotiate directly with underwriters and leverage competitive offers against one another.

Diligent Research and Negotiation

A good insurance broker does not stop at sending out quotes. We meticulously reviewed each offer, assessing not just the price but the comprehensiveness of the coverage, exclusions, and the financial stability of the insurers. Our goal was to ensure that the roofing company was not only saving money but also receiving robust protection against potential liabilities.

The Results

After weeks of diligent research, negotiation, and comparison, we were able to present the roofing company with several excellent options. The winning policy offered the same level of coverage as their previous insurer but at a significantly reduced premium. In total, we saved the company $60,000 on their public liability insurance premiums.

What Good Insurance Brokers Do

This case is a perfect example of what sets good insurance brokers apart:

Personalised Service:

We treat each client’s needs as our own, ensuring that we fully understand their business and the unique risks they face.

Market Knowledge:

Our extensive knowledge of the insurance market allows us to identify the best insurers for each client’s specific needs.

Diligent Research:

We don’t just accept the first offer. We carefully review and compare multiple policies to ensure the best coverage at the best price.

Strong Relationships:

Our relationships with insurers and underwriters enable us to negotiate better terms and rates for our clients.

Client Advocacy:

We act as advocates for our clients, ensuring their interests are always protected. At Morgan Insurance Brokers, our commitment to personalised service and relentless pursuit of the best deals sets us apart. If your business is facing high insurance premiums, contact us today to see how we can help you save money while maintaining the coverage you need.

Saving $60,000 on public liability insurance premiums was not just about cutting costs; it was about finding a sustainable solution that allowed the roofing company to continue operating with peace of mind. This success story is a testament to the value that a dedicated and knowledgeable insurance broker can bring to their clients.

For more information or to discuss how we can help your business, feel free to reach out to Morgan Insurance Brokers. We’re here to help you protect what matters most.