Importance of time at policy renewal

Allowing sufficient time to review your insurance cover at policy renewal will help ensure your policy reflects changes in the market and in your situation.

“The insurance industry is experiencing challenging market conditions, which will be with us for the foreseeable future. This is primarily being driven by environmental factors, such as the rising frequency and severity of extreme weather events, general inflationary pressures and supply chain disruptions.” - Paul Munton, Executive General Manager - Broking Branches, Rothbury Insurance Brokers

Time is our best friend given these current market conditions. Working with your insurance broker preferably around a month prior to your policy renewal can help you access appropriate insurance solutions.

The latest research carried out by Vero Insurance stated that 74% of small to medium sized business (SME) owners and decision makers benefited from their brokers expertise at renewal time*.

At policy renewal, our brokers will conduct an annual review of your insurance cover to reflect any changes in your situation and in the market. These services include:

• Reviewing renewal offers and negotiating with different insurance providers on your behalf to obtain the most favourable policy terms.

• Comparing cover options and different policy structure options.

• Securing the right combination of risk, coverage and cost to recommend an insurance policy to meet your needs, and to help mitigate the consequences of underinsurance.

We are proud of our success in helping our clients navigate the challenges they face while best protecting their assets.

*2022 Vero New Zealand SME Insurance Index. Visit https://www.vero.co.nz/business-insurance/sme-insurance-index.html to access the full report.