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Care Insurance - Market Update: What You Need to Know

Doug Walsh

16/5/2024

Care Insurance

In the world of care insurance, things have been changing lately, and it's important for care businesses to stay in the loop. With the pandemic, insurance premiums went up, but the good news is they're starting to come down a bit. As the leading independent insurance broker for the care sector in the UK, we've got some insights to share about what to keep an eye on when you're checking out your care insurance.

Give Your Care Home Insurance a Once-Over:

Sure, cost is a big deal, but don't just pick the cheapest option. Take a good look at your insurance policy. There are some good ones out there that offer better coverage for a similar price. Watch out for policies with clauses about abuse claims, lack of coroner’s cover, or no 24/7 health and safety support. If your policy has any of these, it's worth shopping around for something better.

Check Your Building Insurance:

Did you know that a lot of care homes are underinsured? Yep, it's true. If you're not reviewing your building insurance regularly, chances are you're one of them. And here's the straight talk: if you're not keeping up with it, you might not get the full payout if something happens.

Get Bang for Your Buck:

In this competitive market, it's not just about insurance. Think about what else your broker can do for you. Besides sorting out your insurance, we can help with other stuff too. Like saving you money on energy bills, sorting out your telecoms, finding top-notch staff through recruitment, or setting up finance solutions tailored just for the care sector.

In closing:

Take the time to review your care insurance properly, make sure your building is properly insured, and get the most out of what your broker can offer. By staying on top of things, you'll be better prepared to tackle whatever comes your way in the world of care business.

Please feel free to give me a call on 01273 424904 to discuss these or any other concerns you may have around your current policy, whether with us or not.

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