Beyond insurance: using a broker for other services

By the time you’ve sorted out your insurance renewal, you might have your next energy, broadband or even water contracts to sort out.  

You could be spending hours comparing rates and providers for each service, going through them one by one. 

But what if you could do it all in one place? That’s where a utility broker comes in. 

Although not common, some brokers do offer other services. 

This could be commercial energy contracts, broadband and phone, VoIP services and more – under one roof. This often saves you time and could even save you money.  

I’ve arranged business insurance, but I need business broadband and energy -what should I do? 

Using a broker that works across a range of utilities means you can get access to quotes and deals across multiple providers much quicker than if you did it on your own. 

Instead of going to different providers to sort separate contracts for business insurance, energy, broadband and phone - you just need to go to one. For busy business owners, this can help save time - and money in some cases. 

What's the difference between a deal directly from a provider and a broker? 

When you go directly to an insurance provider or energy broker, you're typically offered one option based on what you need. And in some cases, a provider may not be able to help you.  

When it comes to energy, you may be able to choose the type of tariff, but your options will be limited if you’re going directly to a provider.  

Brokers, however, work with panels of suppliers and have established relationships that may mean they get better rates that you might not otherwise find.  

Learn more about business energy brokers. 

What other services should I ask my broker about? 

Beyond business insurance, you could ask about the following services. It’s worth noting that not many brokers in the UK offer all these. 

At Bionic, if you run a UK small business, it’s likely we can help you with these essential services to get your business started and keep it running. 

Business gas and electricity contracts 

You’ll need a commercial gas and electric contract if you’re running your business from a premises. When you compare, you may have several different types of contracts available to you. From fixed, to variable or time-of-use. To see what’s available to you, find more information on our business energy page. 

Business broadband and VoIP solutions 

Most businesses need modern communications systems to run properly, and this is no exception for broadband and VoIP. Fast, reliable broadband is key for hooking up payment systems and running any online operations. And even now, phone lines and VoIP systems are essential for certain types of businesses like offices, but also for internal video calls with potential suppliers and more. 

If you haven’t switched your broadband or phone system contracts for a while, your systems could be really out of date. Learn more about broadband and VoIP for business. 

Commercial mortgages and loans 

If you need a helping hand with finance for your business, it’s worth considering a business loan. Business loans work much like other types of business loans - you’ll borrow money from a lender, which then needs to be repaid, along with interest, over a specified period. Many different types of businesses can apply for a loan for various reasons. Find out more about business loans. We can also help with sorting out a commercial mortgage. 

Which business service should I sort first? 

This depends on your situation. Whether you are setting up or renewing a contract, the lengths of all your contracts may not line up. It’s also common for energy contracts to last multiple years, while insurance premiums need to be renewed every year to avoid gaps in cover. 

It might be a good idea to start with whichever is coming up for renewal first. You can typically arrange your next insurance premium up to 30 days before the current one ends. When it comes to energy contracts, you can explore switching when your ‘switching window’ opens. 

It might be best to start with one essential service and then explore the rest. For example, get in touch about your insurance renewal and then ask more about energy contracts or vice versa. 

What might a broker ask when I get in touch? 

When you first reach out to a broker, they'll want to understand your business needs. Depending on the product you are enquiring about, they may ask: 

• Your current providers and contract end dates/renewal dates 
• Your business premises and any special requirements 
• Recent bills for services like energy (usually 12 months' worth) 
• Your meter reference number(s) 
• Details about your business – staff, turnover and more 

This isn't supposed to be intrusive — in fact, brokers ask these questions so they can understand what you need and find suitable providers. 

Getting in touch about insurance? Call up prepared, by reading up on our Insurance Q&A with Ollie Barrett – Senior Insurance Technical Manager, where we asked him for his thoughts on how you can prepare to speak to an insurance broker for the first time. 

What about comparison sites — and where does Bionic fit in? 

You might wonder whether you need a full broker service or a comparison website. Understanding the differences helps you choose the right approach for your business. 

Traditional comparison sites 

Basic comparison sites let you input your details and view available rates. You handle all the research, decision-making, and switching arrangements. This can work well if you have time, understand the market, and feel confident managing contracts yourself. 

The limitation? You're on your own. There's minimal guidance about which supplier genuinely suits your business, no negotiation on your behalf, and no ongoing support if problems arise. 

Full-service brokers 

At the other end of the spectrum, traditional brokers do everything for you. They compare markets, negotiate contracts, handle switching, and provide ongoing management. However, this can often come at a cost. 

This option is usually more suitable for large businesses with complex needs, rather than a small business. 

Where Bionic sits in between 

Bionic provides a solution specifically for UK small to medium businesses, combining the best of both worlds. You start your quote online to compare quotes, but with vital support on hand, so you can actually speak to someone. This approach is especially valuable because: 

• Helpful, UK-based brokers are available to explain options clearly 
• For those who prefer it, you can speak to someone on the phone and ask questions 
• You are not left to sort all the admin yourself, a broker can arrange it for you 
• You benefit from negotiated rates through established supplier relationships 
• Any switching or renewals get handled by the broker 

Using a comparison service like this can help save time and even money in some cases, while empowering you with the information to make a confident decision on your business essentials. 

How often should you review your utilities? 

Getting your utilities set up for your business is one thing, but forgetting about them for years could be a costly mistake. Reviewing your contracts regularly is important to avoid any issues, like: 

• If you don’t renew your insurance premium, you could be left without cover, leaving you unprotected against business risks. 
• If you don’t review your energy contract, you could automatically roll onto out-of-contract rates, which are usually higher than if you were on a fixed contract.  
• Phone systems can become out of date if you don’t upgrade when you need to, potentially risking system failures during business hours. 

Some brokers remind you when it’s time to renew, or you can even opt into auto-renewal schemes. Normally, this is where a broker searches the market again to arrange the next best deal for you. 

It’s a good idea to set calendar reminders for a few months before each contract expiry date. This gives you and your broker enough time to explore options without rushing. 

Using a broker for other services: the next steps 

When you're ready to speak to a broker, make sure you have all the right paperwork to hand -  gather your recent utility bills (ideally 12 months' worth), current insurance policy details, and contract information. This preparation can help speed up the process when you first get in contact. Learn more about working with an insurance broker. 

Remember, many brokers offer you a free comparison service. This means you don’t actually pay to do the comparison. So, if you aren’t satisfied with the quotes on offer, you won’t be charged.  

But time is money in business, and for many small business owners, the time saved by using a broker is invaluable. 

At Bionic, we champion UK business owners, supporting them with business insurance, energy, broadband, VoIP and commercial finance needs. Our knowledgeable brokers help guide you through your options so you can make an informed decision. Start a quote online today.