Five things to review before you renew
Renewing on the same terms every year can mean paying for cover that no longer matches the risk.
One — does the sum insured still match what the property is worth today.
Two — are there new assets or activities that have not been declared.
Three — is the deductible still right for the business's cash flow.
Four — how does last year's claims history affect the premium.
Five — is another insurer offering better terms this year, which is the part a broker checks for you.