Insured Risks UK Business Insurance (Reviews)

This was a tough one for us to review. As you know, we are hell-bent on providing only household names and long time established financial institutions on our website as the longevity and customer service of start up web businesses is 'questionable' at best. So on seeing the name insuredrisks.co.uk we were ready to pass and move on to the next firm in our search but it looks like the only issue this business insurance provider has is branding itself. Certainly the name Insured Risks is about as defining as a company brand as ... well, our website name! We expected it to be a limited range brokerage of sorts just passing you on to someone else and making a quick buck, but we apparently were quite wrong. Insured Risks Limited was formed in 2002 and although their customer base is quite small (around 14,000 customers) you have to scale it properly. With the millions of cars being insured an insurance company with 1 million plus customers is good, so if you compare that to the limited number of small businesses that require public liability and professional indemnity insurance 14,000 does sound quite competant. They do act like a web based business with online instant quotes and emailing you your documents but I'll take that over a call-centre any day.

Insured Risk's public liability insurance is available for over 100 contracting trades and professional occupations with cover in steps of ?1m, ?2m and ?5m. Specially designed to cover individual tradesmen, professionals and small businesses of up to 10 people their public liability cover is underwritten by the Groupama and AXA insurance groups. Employers liability insurance covers you if any of your employees have an accident at work and make a claim against you. The costs of compensation and/or legal fees for injured employees can be extortionate so their employers liability insurance comes at the industry standard level of ?10 million. Professional indemnity insurance protects you from claims of negligence (duty of care), misrepresentation, copyright infringement and so forth. Insured Risks offer cover for 38 professions with cover available in steps from ?50,000 to ?1,000,000 (underwritten by Hiscox Insurance). They also offer commercial vehicle cover and offer one of simplest quote processes we've seen with the only information required is the vehicle's registration number. Fully comprehensive, third party fire and theft only is available with up to three named drivers and up to seven years no claims discount. Savings compared to other insurers can be had as InsuredRisk's filtering process weeds out the more risky drivers who must be between 25 and 65 years old, have no more than 3 penalty points in total and no driver can have made a motor insurance claim in the last three years. Though rules but it does reward the better drivers. †

04/10/2008 Insured Risks specialises in public liability, professional indemnity and commercial vehicle insurance. They state that they only provide commercial vehicle insurance to drivers between 21 and 65 with no more than 3 penalty points who haven't made a car insurance claim in the last 3 years. Unlike private insurers, they require a registration number in order to give you a quote - since I've not actually bought my van yet, I couldn't proceed, which was a bit frustrating - I wanted to get an idea of my insurance costs before I went ahead with my purchase (to know what I have left to get optional extras on the van!).

30/07/2008 I tried to get professional indemnity insurance last year from Zurich and they had to send me out oodles of forms to fill in and post back with a bunch of attachments regarding my business. I gave up in the end (not wise really in my line of work!). I saw this company and fill in the online form. 10 minutes later I have professional indemnity insurance. What were Zurich playing at?