Clark Kent's ten top tips for supersavings on insurance

Date: October 2003

You don’t have to be superhuman to run a small business, but sometimes it helps if you’ve got Clark Kent on hand to help you see clearly through brick walls, leap over red tape in a single bound and outfox alien invaders.

But one insurance company does have Clark Kent to hand – it’s the real name of PremierLine Insurance’s customer service supervisor, and he has ten super tips to help small business managers and owners when it comes to getting out-of-this-world insurance deals and service:

1. Be braver than mere mortals: If you get a mailshot or a phone call from an insurance company at renewal time, give their product a go. You may be pleasantly surprised – some companies provide instant cover as well as offering excellent savings.
2. Take on the time-bandits: Don’t hang on the phone or chase paperwork when you could be making money for your own business. Choose an insurer with clear service standards who won’t mess you around. It takes the average broker 164 days to get an insurance company to complete its paperwork. Don’t end up paying for their incompetence.
3. Read Minds: don’t accept the first quote you’re given no matter what the claims made by the seller that their service or price is the best available. Shop around.
4. See into the future: Claiming £50 may look like a good idea but it will be harder to get a good deal in the future if you have a poor claims history.
5. Use your superpowers to swat aside minor attacks: If you can afford to absorb small claims within your operating budget, it makes sense to increase your excess as this should provide a reduction in your premium.
6. Make sure your insurer comes from a friendly planet: Check that chargeable extensions of cover are not provided free by other insurers. Insurance policies differ, so make sure yours is the most appropriate for your business.
7. Become impervious to fire: A major cause of fire claims is poor electrics. Have your electrical system checked and certified every five years by a qualified electrician. This will make sure your business attracts the most competitive terms.
8. Repel alien invaders: Check security systems such as your building or vehicle intruder alarm. If your insurer has not requested such equipment, provided you ensure they are happy with the system, a reduction in premium should be available.
9. Head off disasters: Fit immobilisers to vehicles or fit bars or grilles to your premises. Again, if not requested by your insurer and provided they are approved, they should attract a discount.
10. And if your staff think they too have superpowers … If possible limit the users of your company vehicles to named drivers over 25. While wider cover will be available, it will be more expensive. Before you purchase, make sure you need the cover.

Said Clark: “Nobody running a small business is superhuman, but it sometimes pays to flex your business muscles a bit when negotiating with your insurer. There’s usually a better deal – whether based on price or service – and it’s a competitive market, so don’t be afraid to play one company off another.”