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Thursday, 12 March 2015

Significant savings on archaeology insurance

Not being one to ‘blow my own trumpet’ – or indeed, our own trumpet – but we have seen an incredible flurry of requests to benchmark the insurances of archaeological groups and businesses.  It seems that April 1st is a very common renewal date!

There has been so little competition in this sector of the insurance market that we believe that prices have been left to rise year-on-year unchecked.  Indeed, one of the most common moans which we hear is related to the size of the ‘brokerage fee’!  Again it seems that this also rises year-on-year.  One comment which we got recently indicated that one archaeology society was paying a fee to their broker which was 30% of their total insurance cost last year!

We don’t add a brokerage fee.  We get paid a commission by the insurer – so when we quote a ‘premium’ it includes insurance premium tax and is the amount you pay.  Nothing more!

Call me to discuss your insurance needs on 0208 2550617 / 07768 865983