Man on tablet in field

Rising Costs Could Leave Businesses Exposed

Posted on: 13th April 2022

RISING costs could leave Cumbrian business owners at risk of losing all they have worked for if they are not correctly insured.

The cost of living crisis is hitting all sectors of society with many people looking to re-evaluate their financial commitments.  As well as higher energy bills, businesses are facing rising costs of a range of materials and supplies which means they can be holding significantly higher values of goods on their premises putting them at risk of being underinsured. This can lead to business owners considering reducing costs within their business, and potentially reducing the wrong costs which could put their business at risk.

Paul Graham, Managing Director said: “Costs rising at the rate they are is an issue for absolutely everyone.  In terms of business owners it can mean that the levels of cover they have taken out previously will no longer be appropriate for them if anything goes wrong.

“Sadly, although people don’t want to think it will happen to them, the reality is that things do go wrong. 

“We have paid out £2.9m in claims in the last 12 months which shows why it is so important to have the correct insurance cover at the right price.”

H&H Insurance Brokers is one of the UK’s leading  independent insurance brokers and operates across the North of England, the Scottish Borders and Wales, and has 30 years experience of serving business owners, including in the farming, rural industries, tourism and hospitality sectors.

Paul said: “We understand that everyone is looking at their outgoings and looking at ways they can save money right now. Unlike a utility, cheap insurance can lead to far greater expense. What is vitally important is that business owners engage with a professional insurance advisor who will  find the right  insurance cover for their business, otherwise they risk losing everything. 

"Using a trusted broker who gives professional, quality advice means that if anything does go wrong that they have the correct cover. A broker, unlike an agent or dealing directly with a single insurer, can look at the whole of the market and see what will best suit a particular client’s needs. That means people have one less thing to worry about because they know if the worst happens that they are covered.  If businesses don’t get that advice now, and find out the hard way that because of rising costs they are underinsured, then they are putting everything they have worked for at risk.

“It’s not just damage to buildings and loss of stock, it can be the length of time before a business is able to get back on its feet. Without the correct insurance and with no income coming in that can spell the end for a business.

“Another practical way we help people have the correct cover is that we offer credit, enabling clients to spread payments over ten months to help with cashflow when they are looking to meet rising costs in other areas.  

“Like any quality professional service, we will always work alongside our clients to give them the best possible advice and support them in these challenging times.”

What our customers think

Farm insurance renewal
Very helpful insurance review, not rushed and very thorough.

09 May 2022

They knew exactly what was required and were very efficient and helpful.

Pauline - 06 May 2022

Super fast quote, amazing service
Luke was an absolute star

Julia - 05 May 2022

Very helpful and fast service

Sirs - 05 May 2022

Great company to deal with
Excellent service from all the team! Great to have real people to work with, visit and chat about insurance cover. Superb, thanks

Rachael - 05 May 2022

The usual professional service.

Margaret - 05 May 2022

Great service (removed by Feefo) and great communication. I dealt with Chris, who is a very nice man. Thoroughly recommend them. **

07 April 2022

Put a lot of effort in to getting a good quote. Would recommend them to anyone.

Graham - 08 April 2022

See above
Ok. Would use again

Harley - 07 April 2022

Information requested received wIthin 30 minutes
Highly efficient and dealt with the matter immediately

07 April 2022

Helpful Service
Sue sent timely reminders and dealt with me professionally and effectively

Dawn - 07 April 2022

Great service excellent It was adam & Leanne hunter that put me in touch.
Thanks for insuring my for my contractor insurance when no one else seem to by able to help.

Adrian - 07 April 2022

Requested to pay renewals without any documentation being received. Still waiting on hard copies in spite of being told 1st envelope was posted last week and 2nd put in post on Mon. Expecting one to be in post today, Thursday.

Christine - 07 April 2022

Excellent as always.

Peter - 03 March 2022

Great effort
Luke worked hard to come up with a solution for us in difficult market conditions.

Malcolm - 03 March 2022

Friendly, personal touch
I would recommend H&H because of their friendly, efficient, cost effective, professional service.

Karen - 04 February 2022

If you are bored by insurance but smart enough to know it is needed !
I have less then straightforward needs when it comes to insurance cover and there’s no doubt that it doesn’t come cheap but……what price on feeling that you can go about your business and feel that you’ve got it covered. I have had to make a claim recently and it was resolved quickly and efficiently. Insurance sure is boring but necessary. I would recommend H and H wholeheartedly..

Amanda - 02 February 2022

Personal touch valued. Time to discuss details.
A personal visit from representative enabled us to discuss fully any points we were unsure about, thus enabling us to make a better informed decision about what to include and what to miss out.

Karen - 06 January 2022

Great service
Easy to deal with

05 January 2022

Recommend them again

Andy - 05 January 2022