Start the year strong: Why your business goals need an insurance focus

Written by Nikki Hookway - Associate Director ACII.

New year’s resolutions usually kick off with the personal stuff; changing up the exercise regime, eating more nutritious food, putting time and money aside for traveling, home renovations, and gadgets maybe. But when ringing the commercial changes, what is it that business owners need to be planning for? And how can you ensure these “new rules” have more of a lasting and useful impact than that giant-sized (and massively overpriced) tin of protein powder that was going to quite literally, shake up your 2026?

First of all, if you haven’t got round to the business plan yet, don’t panic. The financial year almost exclusively begins in April – with less fireworks, champagne, and Hootenanny perhaps – which means this, right now, is your planning window. 

In the three months from January until the official start of the financial year, you can set goals and objectives that should take you into 2027 with confidence and success.

And much of that will come from understanding your business insurance. There may be changes and adjustments to this, especially if you can bring down policy premium costs. But there are other ways to ensure your insurance is working with you to improve the bottom line in business

Make time to talk to your insurance broker

A golden rule at this time of year is not to leave it too late in a policy term to have that value-rich conversation with your insurance broker. In my experience, it’s not unusual for a client to book a call or meeting some months into a policy, with information regarding a new business area that’s already in operation. 

Whether that’s a chain of beauty salons now offering non-surgical treatments, or a toy retailer who is now selling in the US, these present fundamental ways in which a policy is drawn up and agreed – and your insurer needs to know from the get-go, rather than mentioning it as an aside once everything’s up-and-running.

This is where the difficulties start and the costs start to spiral. One policy should be cancelled while another, more tailored policy needs to be issued that may double the price, while denting your profits. 

And while insurance brokers appreciate that you may not want to discuss a fledgling business venture until it gets off the ground or you have confidence in its success, we recommend that a fix for ‘26 is having frequently and transparent conversations with your insurance broker, so we can help you to transform those blueprints and thoughts into a tangible, profitable and fully protected reality. 

The need for disclosure and transparency

If you’re concerned about saying too much, too early, a sensible starting point for any trader/broker conversation is by only discussing and disclosing information that doesn’t threaten any growth ambitions or ideas. 

Using one of the client examples to illustrate this as a case in point, the leading question is: “If my business were to consider exporting to the US, what insurance arrangements would be necessary?”

The response is to give careful thought to how further premiums might impact on the profitability of such a venture – especially in this age of hefty and changing tariffs.

Furthermore, a broker could potentially come back with options of insurers – some who might not support US exposure and some who would with a higher premium.

However, building the relationship before you ‘need’ the cover might be a good route into ensuring lower premiums when you do move into their new market.

Broker benefits that go further than business insurance

As you start to think about what your commercial enterprise really needs in the year ahead, bear in mind that insurance policies and plans aren’t just there for when things go wrong; they actually help you move your business forward. Brokers and insurers offer practical advice and risk management tools to support your goals and reduce the chances of setbacks – so you’re ready for the changes you want to make. Plus, this proactive approach can often lead to better terms for your cover.

Once more, returning to an earlier client profile: As the owner-operator of a beauty enterprise, you’ve recently launched an aesthetics branch. By engaging with an insurance broker, together you can build a robust risk management strategy that demonstrates to insurers that you prioritise safety and compliance. So, while it may well be a fresh venture with limited trading history, a solid future-proofed plan opens the door to a wider and more competitive range of insurance premiums.

Share your plans, so we can provide tailored advice

An insurance review isn’t just for Christmas – or New Year for that matter. Regular reviews keep you ahead and your business more buoyant. A good broker will go the extra mile by checking in periodically to see how things are going. These reviews are the perfect chance to share your plans for not just the financial year ahead, but the next few years, helping you to better understand how your ambitions might impact your insurance. Planning ahead makes budgeting easier – and premiums less of a surprise.

At Howden, we’re always working hard to find the best and most suitable deal without cutting corners. If you have a five-year plan, we’ll build around it, encompassing your ambitions in a realistic and strategic way. Our expertise helps you grow your business with confidence – all you need to do is tell us where you want to go.

Summary: Hints and tips for a great ‘26

1. Bring brokers into your long-term plans. This gives them time to prepare insurers and position your business for success when entering new markets.
2. Protect sensitive information. If you’re not ready to share details, ask broad questions or use a mutual non-disclosure agreement for peace of mind.
3. Plan for change before you commit. Think ahead before signing long-term or annual policies. Some insurers can accommodate future needs, saving you the cost and hassle of switching later.
4. Choose insurers with flexibility. Those who cover a wider risk profile may cost a little more upfront, but building a relationship now may pay off when you expand.
5. Be upfront about the next 12 months with your broker. Disclose upcoming changes early to avoid penalties or non-refundable deposits. And don’t forget Business Interruption calculations – growth can impact your cover faster than you think.

Above all else, think of your insurance broker as part of your leadership team—a risk director for your business. Their role is to provide options and strategic advice that keep your risk management aligned with your goals and appetite, ensuring every decision supports long-term success.

Remember, your insurance broker is an extension of your business’ executive or leadership team – so why not use (but not necessarily abuse) them like the risk director they are. Whatever your quote brief for that year, they should be able to present you with the options and feedback on the best potential moves to help keep your business risk transfer aligned with your risk appetite.

To find out more about how the specialist team at Howden can support your business goals right now, and into the new financial year and beyond, talk to us today via the button below or on 0161 830 1290.