Switching broker · Growth · 2026

Has your business grown past its insurance?

Policies are set up for the business you were. Cross a few thresholds and the cover that was right becomes the cover that's quietly wrong.

Part of: When to switch business insurance broker

In short

Growth is the most common reason cover stops fitting, and the least noticed, because nothing dramatic happens. Turnover rises past the figure on your schedule; you hire your first staff, which makes employers' liability a legal requirement; you open a second site; you take on bigger clients with bigger requirements. Some regulators even tier the professional indemnity they require by fee income, so growth can change what you're obliged to hold. Each step is small. Together they mean your policy is describing a business that no longer exists. A broker re-rates the programme to the business you've become.

The thresholds that matter

Turnover and wage roll — most policies are rated on declared figures; exceeding them can breach a condition and under-price the cover.
First employee — employers' liability becomes compulsory (a legal minimum of £5m).
New premises or sites — buildings, contents and liability all need adding, not assuming.
Regulatory tiers — some professional bodies set higher minimum PI limits as fee income rises.
Bigger clients — who tend to require higher limits and named covers in their contracts.

What to do

Compare the figures on your schedule with reality: turnover, wage roll, staff, sites, values.
Declare changes to your insurer as they happen, not at renewal — a broker handles this.
Check any regulatory or client requirement that scales with size.
Have the whole programme re-marketed as the larger business it now is; the price and the cover both change.

The business that outgrew its policy usually only finds out at a claim — when the insurer compares the schedule with the truth.

Frequently asked

Do I have to tell my insurer if my turnover has gone up?

Yes, if it's beyond what you declared. Most policies are rated on turnover or wage roll, and a material undeclared increase can breach a condition. A broker will amend it.

At what point does a growing business need a broker rather than an online policy?

When the questions get harder than a dropdown can handle: multiple sites, staff, contracts with insurance clauses, or an activity that isn't on the list. That's usually earlier than people expect.

Does opening a second site change my insurance?

Yes. Buildings, contents and liability at the new site need adding, and the combined business may be rated differently. Tell your broker before you open, not after.

Can regulatory minimum cover change as I grow?

For some professions, yes. Certain professional bodies tier the required PI limit by fee income, so growth can raise the minimum you must hold.

Grown past your policy? Get it re-rated.

Tell us where the business is now and a named Apex broker will re-rate the programme to fit — thresholds, sites, staff and contracts included.

Re-rate my cover → Request a callback

Apex Insurance Brokers is authorised and regulated by the Financial Conduct Authority (FRN 724952). This page is general information, not advice.