Insurance guide

Plain-language help to understand your cover, keep your premium in check and reduce the risks you face.

What affects your premium

Understanding the main factors helps you control your costs.

Sum insured: The value of what is being covered. The higher the value, the higher the premium.
Risk profile: Location, age, occupation, driving history, and the type of building or business activity.
Claims history: Previous claims may increase the premium. A clean record may reduce it.
Excess: The amount you pay on each claim. A higher excess usually lowers your premium.
Safety measures: Alarms, fire protection, security guards and staff training can earn better terms.

The insurer sets your final premium. Talk to us before you buy: small changes, such as a higher excess or better security, can make a real difference.

Staying safer

Simple habits that reduce the chance of a loss, and the size of one.

At home

Install smoke alarms, secure doors and windows, do not overload sockets, and keep a list of valuables.

On the road

Service your vehicle, avoid night driving where possible, use a tracking device and never drink and drive.

At work

Train staff in safety, keep fire equipment serviced, store stock safely and follow cash-handling procedures.

For your business

Back up your data, keep a business continuity plan, check supplier risks and review your insured values every year.

Insurance terms made simple

The words you will meet on a quotation or a policy, in plain English.

Beneficiary: The person who receives a benefit under a policy, for example after an accidental death.
Broker: An intermediary, like Premier Risk Group, who advises you and arranges your cover with insurers on your behalf.
Business interruption: Cover for lost income and ongoing costs while you cannot trade after an insured loss.
Excess: The amount you pay yourself on each claim. The insurer pays the rest, up to the policy limit.
Exclusion: Something the policy does not cover.
Indemnity: Putting you back in the same financial position as before the loss, not a better one.
Insurer: The company that agrees to pay for insured losses.
Peril: A cause of loss, for example fire, theft or flood.
Policyholder: The person or business that buys the policy.
Premium: The amount you pay to keep your insurance in force, monthly, quarterly or yearly.
Sum insured: The maximum amount payable under a policy section.
Third party: Someone other than you and the insurer who is injured or whose property is damaged.
Underwriting: The process of assessing a risk and deciding whether to accept it and on what terms.

Not sure what you need?

Tell us what you want to protect and we will explain your options in plain words.

Get a quote Or call 0774 051 654 Making a claim

This guide is general information. It is not a contract and does not form part of any insurance policy. All cover is subject to the insurer’s underwriting, terms, conditions, limits and exclusions, so please read your policy document carefully.