Is your company paying too much for its business insurance?
The policy was written based on how the company looked that day. Then the business changed — but the policy document rarely did so on its own.
The premium doesn't follow the business
A business insurance policy is written based on how the company looked that day. Then the business changes — but the insurance rarely does so on its own.
That leads to two errors pulling in opposite directions, and both cost. Either you're over-insured and paying for values you no longer have, or you're under-insured and believe you have cover that doesn't exist. The first costs money every month. The second costs everything, once.
What changes without anyone telling the insurer
- Turnover has grown or fallen significantly since the last review
- You've changed premises, rebuilt, or altered the fire protection
- Machinery has been replaced, and old values remain in the policy
- The number of employees has changed, which affects several sections
- You've started exporting or selling to new markets, which can change the liability section
None of these changes triggers a review automatically. The insurance renews annually with an index uplift and rolls on under the old assumptions.
Get the policy document out and compare the stated values with your latest balance sheet. Do the machinery value, stock and turnover match? In many cases they don't — and then the premium is wrong, whichever direction it's out by.
The deductible is a lever few use
The premium and the deductible are linked. A company with healthy liquidity that has never had a claim often pays for a low deductible it doesn't need.
Raising the deductible can lower the premium noticeably, and only costs anything on the day a claim actually occurs. It's a deliberate acceptance of risk rather than a saving — but it's a decision you should take actively instead of by default.
Sections to go through
| Section | Common error |
|---|---|
| Property | Values from earlier machinery or premises |
| Business interruption | Indemnity period set without reference to how long a real restart takes |
| Liability | The amount never adjusted despite higher turnover or exports |
| Transport | Double-covered via the freight contract, or missing entirely |
What you can do yourself
- Read the policy document and reconcile every stated value against reality.
- Check the renewal date. Business insurance renews annually and often silently.
- Look at the deductible and ask yourselves whether the level is an active choice.
- Check whether anything is double-covered — transport and machinery cover overlap more often than people think.
What's hard to do on your own is knowing whether the premium is at market level, because pricing is based on risk assessments that aren't public. That requires comparable quotes to answer.
Last reviewed 3 August 2026. The figures are based on negotiated contracts and quotes gathered for Swedish companies with 20–100 employees. They are typical ranges, not guarantees — your cost depends on volume, contract length and the requirements you set. We update them when we see the market has moved.
Are you paying the right price?
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