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Insurance Business UK (IBUK) has released this year’s best commercial insurance providers, ranked by hundreds of brokers.
The IBUK research team identified the best commercial motor insurers of 2023 by surveying a wide range of brokerages to determine what brokers value in a commercial motor insurer. The team also asked hundreds of brokers across the country to rate the commercial motor insurers they had worked with over the past 12 months.
The in-depth information gathered enabled the IBUK research team to assign weighted values to each criterion being rated by brokers. At the end of the research period, the insurance providers that received the highest rankings regarding work quality, specialist expertise, and client service were named 5-star award winners in commercial motor insurance.
Main considerations when selecting a commercial car insurer
Brokers ranked the following factors as the top categories when working with commercial car insurers:
- Claims payment/processing, 4.73 out of 5;
- Coverage, 4.73 out of 5;
- Response time, 4.67 out of 5;
- Reputation, 4.67 out of 5;
- Underwriting expertise, 4.60 out of 5;
- Flexibility or customisation of insurance policies, 4.40 out of 5;
- Price, 4.33 out of 5;
- Access to risk mitigation or evaluation partners, 3.80 out of 5; and
- Education of brokers about insurance policies, 3.80 out of 5.
See the UK’s best commercial car insurance providers for 2023 by reading the IBUK Brokers on Commercial Motors 2023 special report.
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