Switching broker · Renewals · 2026

Your business insurance renewal has shot up — what to do

A steep renewal is rarely the last word. Before you pay it, find out whether your risk was actually tested against the market.

Part of: When to switch business insurance broker

In short

Renewals rise for reasons that often have little to do with you — a hardening market, your insurer repricing a whole trade, or a quiet rollover that was never re-marketed. Before you accept it, ask one question: was my risk taken back to other insurers, or just renewed? A broker can re-market it, challenge the increase, and frequently bring the price back down or widen the cover for the same money. You can move at renewal or mid-term.

Why your premium may have jumped

The whole market for your trade has hardened, so every insurer is charging more.
Your insurer has changed appetite or is exiting your sector and repricing to push risks away.
Claims elsewhere in your industry — not necessarily yours — have pushed rates up.
It simply auto-renewed and was never re-marketed against competing insurers.
Your own exposure genuinely grew (more turnover, staff, stock or activities).

What to do before you pay

Don't let it auto-renew — get the renewal terms in writing first.
Ask your broker directly: was this re-marketed, or rolled over?
Have a broker test it against the wider market, including specialist insurers.
Check the price hasn't been held down by quietly cutting cover or raising the excess.
Compare like-for-like — the cheapest quote isn't a saving if the cover is thinner.

A second opinion on a renewal costs nothing and often pays for itself several times over.

Frequently asked

Why did my premium go up when I've had no claims?

Pricing is driven by your whole trade and the wider market, not only your own record. If insurers are pulling back from your sector, rates rise even for claim-free businesses, which is exactly when re-marketing to other insurers pays off.

Can I challenge a renewal increase?

Yes. A broker can take your risk back to competing insurers and negotiate. If the increase isn't justified by your exposure, the market will usually say so.

Should I just switch to the cheapest quote?

Not blindly. Match the cover, limits and excess first; a lower premium with the wrong terms can cost far more at claim time.

Can I change insurer mid-term, not just at renewal?

Often yes. You'll usually get a return premium for the unused period, less a small time-on-risk charge. A broker will tell you whether it's worth doing now or waiting for renewal.

Renewal jumped? Let us test it.

Send us your renewal and a named Apex broker will take your risk back to the market and tell you plainly whether the increase is fair.

Get it re-marketed → Request a callback

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