Business Owner's Desk
Plain-language insurance guidance
Practical answer
Cheapest quotation or best coverage?
Compare the contract, not only the premium.
The short answer
A lower price can reflect a higher deductible, smaller limit, narrower wording, fewer extensions, stronger warranties, less favourable valuation, or a different insurer and claims proposition.
What to do now
- 01Create a side-by-side comparison of limits, sublimits, deductibles, exclusions, warranties, and conditions.
- 02Highlight every material difference from the expiring policy and requested specification.
- 03Review insurer financial strength, service capability, local licensing, claims support, and panel structure.
- 04Record which gaps the business accepts and who approved the decision.