When was the last time you had your business insurance reviewed?


Clear Insurance Recommendations

Navigating insurance complexities can be daunting, but we specialise in providing easily understandable and clear-cut recommendations, making your decisions hassle-free

Extensive Insurance Access

Our extensive network exceeds limited direct choices, granting access to an extensive pool of over 200 insurers and underwriting agencies.

Streamlined Renewal Management

Managing numerous renewal dates? Allow us to streamline your portfolio and save you valuable time by consolidating them efficiently

Comprehensive Business Advice

Direct markets offer restricted advice. Instead, we offer comprehensive guidance tailored to your unique business requirements, ensuring well-rounded support.
Business Insurance

Competitive Renewal Comparisons

While automatic renewal may seem convenient, we diligently assess the market at every renewal to guarantee competitive benefits and premiums.
Retirement Planning

Stress-Free Claim Assistance

Frustrated with call centre claims? We alleviate this hassle by personally managing your claims, ensuring a stress-free experience for you.

As your business continues to expand, it’s crucial to ensure that your
insurance coverage is regularly reviewed and adjusted

Sum Insured and Inflation:

Costs for materials, rebuilding, and labour have increased rapidly over the past few years.
Ensuring you have enough cover means checking on the replacement values of building, plant & machinery, as well as stock. All insurers require up-to-date values to be insured. These are called the Sum Insured on your policy schedule. If these are less than needed to repair or reinstate the lost or damaged property, then you could have a shortfall in the claim settlement amount. This could cause delays in rebuilding or the need to obtain finance to pay for any gap.
Quality Advice


As your business grows, new risks will emerge, from new products to fire to importing. Make sure you tell your insurance adviser about your plans. They can work with you to identify new risks and the best way to manage them, including through insurance cover. For example, new data breach laws, supply chain disruptions and compliance risks.


Keep your insurance adviser updated

Ensuring you have the right amount and type of cover in place is key to protecting your business when facing change. Understanding your risks, such as adding machinery breakdown cover loss of profits, may be needed to protect profits and pay wages, or updating sums insured will assist in managing the financial risks and assist in the ongoing success of your business.


Amount of Cover

Check the amount of cover for your building, plant and machinery. Many costs have increased by 20% – 30% over the past 12 -18 months. Inflation, shipping delays and the cost of inputs are all expected to increase over the coming year. This will help to avoid claim delays or underinsurance being applied.


New cover for new risks

Discussing planning for new products or a change of premises will also raise new risks and potential gaps in cover. For example, if you are beginning to export products to the USA or Canada, has your insurer been advised and agreed to these exports, or is new insurance cover required? With cyber-attacks increasing, is cyber insurance required?


Review excesses

When assessing your insurance, don’t overlook the potential benefits of modifying your excess or deductibles—the portion you pay for each claim. Raising the excess can result in lower premiums, making it easier to match your coverage with your risk tolerance, ultimately saving you money while ensuring suitable protection.


Partner with a trusted insurance adviser

Partner with an experienced insurance advisor who will collaborate closely with you to thoroughly evaluate and discuss the optimal risk management and insurance choices tailored specifically to your business’s individual requirements and circumstances. Their expertise will ensure your business is adequately protected.

As a growing business, it’s important that your insurance covers are updated regularly.

Reach out to Key Concept Wealth and Insurance for your
Business insurance needs and experience Key Concept difference.

Key Concept is committed to simplifying the complex world of insurance means you receive clear, straightforward recommendations. With access to a vast network of over 200 insurers and underwriting agencies, we provide tailored options for your specific needs.

We streamline your insurance portfolio management, reducing your time and effort. Our team goes beyond the limitations of direct markets by offering comprehensive advice tailored to your unique business requirements. We prioritise competitiveness by comparing the market at each renewal, ensuring your benefits and premiums remain competitive. Finally, we handle claims management, relieving you of call centre frustrations.

Frequently Asked Questions

What makes Key Concept Wealth and Insurance's approach to business insurance unique?
Key Concept Wealth and Insurance offers clear, simple recommendations and has access to over 200 insurers and underwriting agencies, providing comprehensive advice tailored to your specific business needs.
Why is it not always best to automatically renew my business insurance?

It helps protect a company’s assets, finances, and reputation. It provides coverage against potential losses or damages caused by accidents, natural disasters, lawsuits, employee injuries, and other risks. Having adequate insurance can help a business recover and continue its operations in the event of an unforeseen incident.

Why is it not always best to automatically renew my business insurance?

There are several types of business insurance policies available, including:

General Liability: Covers third-party bodily injury, property damage, and related legal costs.

Property Insurance: Protects your business property, such as buildings, equipment, inventory, and assets, against damage or loss.

Business Interruption: Provides coverage for lost income and operating expenses when a covered event disrupts business operations.

Professional Indemnity: Protects professionals (e.g., doctors, lawyers, consultants) against claims of negligence or errors in their professional services.

Workers’ Compensation: Covers medical expenses and lost wages for employees injured on the job.

Commercial Auto Insurance: Provides coverage for vehicles used in business operations.

Cyber Liability: Protects against losses caused by cyber-attacks, data breaches, and other cyber risks.

Management Liability: Provides coverage for the personal liability of company directors and officers.

Employment Practices Liability Insurance: Protects against claims related to employment practices, such as discrimination or wrongful termination.

Why is it important to review the Sum Insured regularly?

The amount of coverage needed depends on various factors, including the size of your business, industry, location, assets, revenue, and risks involved. It’s important to assess your specific business needs and consult with an insurance professional who can help determine the appropriate coverage limits for your situation.

Why is partnering with a trusted insurance adviser important for my growing business?

Business insurance premiums are calculated based on several factors, including:
* Type of business and industry
* Size of the business
* Revenue and payroll
* Location and property value
* Claims history
* Coverage limits and deductibles
* Risk factors specific to the business