Businesses are still finding things tough as we hit the tail end of the recession. The problem with actually being formally in a recession is that it takes up to two years for the growth to gradually slow down to get the point of being negative.
Entering and exiting recession is like an oil tanker going through a slalom. It takes ages and ages to turn and build up speed again. In 2010, and probably going into 2011, we will still find that tough times are amongst us.
One way though that you can help yourself, is to look around for a cheap business insurance quote. Whether you are paying £500 or £5,000 (or more), if you can shave 10% off your premium, this is better in your pocket than going to your insurer.
A word of caution though. Cheap does not always mean best. Everyone knows this, but the problem with business insurance is that how can you tell the quality of 80 page insurance policy compared to another?
The secret is, always, always, always use a business insurance broker to get an alternative quote. A broker is legally obliged to do the best for you, if they offer you a worse product (ie higher excess, less cover) without pointing this out, you can complain in the event of a claim being repudiated or not paid.
If you are looking to compare business insurance, then you need to get an expert to do this for you. The best starting point is to get hold of your current schedule of insurance, tippex out the premium, and fax this through to a broker and ask them to get you a comparison. You may need to confirm that you have had no claims or losses in the past five years (or give details of these), but a schedule usually gives as much information as a broker needs to at least give an indication.