Dave Beard

Expertly compared by Dave Beard

Products Updated June 4, 2018

Business Insurance For Mortgage Brokers

As a mortgage broker your main aim is to provide your clients with the advice and guidance they need to find the mortgage product that is right for them. If you act negligent or make a mistake you could be liable to a claim against you and the business. Our experts can ensure you have a policy in place to protect against this.

Our insurance experts can compare the market to find you the best deal on business insurance. Get a free quote and advice today:

4 providers expertly compared:

Simply Business

Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Provider
Business Insurance

Products
Professional Indemnity, Public & Employers Liability Cover

Business Type
Sole Traders, Partnerships & Limited Companies

Speciality
UK Small business cover

Rated 4.8/ 5

All credit types

Simply Business is a broker that provides a wide range of business insurance cover. They specialise in small businesses and can advise, compare and arrange the right insurance products to ensure you are not only protected by get the best deal on the market.

4 providers expertly compared:

Available via broker only

Zurich

Provider
Zurich Business Insurance

Products
Business Insurance

Business Type
Sole Traders, Partnerships & Limited Companies

Speciality
UK Small business cover

Rated 4.6/ 5

All credit types

The right insurance package will give you the peace of mind to successfully grow your business. Zurich have an extensive suite of insurance products tailored to a wide range of small and SME businesses to ensure you have complete protection from all risks.

4 providers expertly compared:

AXA

Provider
AXA Business Insurance

Products
Business Insurance

Business Type
Sole Traders, Partnerships & Limited Companies

Speciality
Small business and commercial insurance

Rated 4.7/ 5

All credit types

AXA business insurance can cover you and your business for every eventuality. Apply online today and save an extra 10% on your quote instantly.

4 providers expertly compared:

Hiscox

Provider
Hiscox Business Insurance

Products
Business Insurance

Business Type
Sole Traders, Partnerships & Limited Companies

Speciality
Small business and commercial insurance

Rated 4.8/ 5

All credit types

Hiscox commercial business insurance provides a professional level of cover to protect every aspect of your business, from the premises to the people who work for you, and any legal matters that may arise from your day-to-day operations.

Read our customer and visitor reviews for this product:

Rating: 5 / 5 with 1 votes

Recieved quotes as promised.

by Clear Eye Wear Limited

Happy with the process and quotes. Simple to use and back up with a phone call. No pressure to buy, which was reassuring.

About Business Insurance For Mortgage Brokers

In this industry you have to ensure that you get everything right so you client benefits in every possible way. However, here are potential risks and with them comes the possibility of your client losing money. If you offer advice incorrectly then your client could make a decision that is wrong for them or if you act negligently then they may also experience financial loss. This would give your client the right to make a claim and this could prove costly for you. Defending claims means you will have to cover costs yourself, however, business insurance ensures that this is not the case.

Cheap Business Insurance For Mortgage Brokers

Cheap Business Insurance For Mortgage Brokers

Our business insurance is there to protect your business because it is created around your needs. As a mortgage broker you will have complete peace of mind knowing that you are covered from any form of claim. Even if you have never made an error that has led to a claim before, the potential is there. This cover will give you the confidence to make the right decisions and continue to work efficiently knowing that any error or negligence on your part is covered. Business insurance is a clever tool that works for you and your business so having the cover in place is a must.

How Does It Work?

Working as a mortgage broker means that you need to protect yourself. Protecting your business and its finances is crucial to your future success.

Professional indemnity insurance covers you in a number of ways but most of all it will guarantee that claims and all expenses are included. If you have caused you customer to incur financial losses then they have the right to make a claim. If you give your client incorrect advice regarding a mortgage they could make a decision that costs them excessive solicitors fee and even a set-up fee. If this is the case then they are going to look to recover these lost expenses which means you will find yourself defending a claim. This is exactly why professional indemnity insurance is the right cover for you.

If your clients regularly visit your office to discuss mortgage matters with you then you need to consider public liability insurance. This will cover you should your client become injured while on your premises. This could range from falling down a step or even slipping on a wet floor. The risks are there but it could mean that they have the right to make a claim for their injuries. Without insurance you will be left to cover all costs and this can prove extremely damaging for your business.

The Features

Business insurance provides you with the following features:

  • Complete cover for all claims
  • Full assessment of all claims before payment is released
  • Protection for your business in every way
  • Defence costs and compensations costs are included in the cover
  • Business requirements are considered so the right cover is selected
  • Court appearance costs are included
  • Budget is taken into account

What Are the Benefits?

The benefits associated with business insurance are:

  • Meet all laws, fulfil your legal requirements as well as any regulations
  • Focus entirely on your business
  • Financial protection for your business
  • Professional advice and complete representation available
  • Confidence in your business and peace of mind

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