Top 5 Things to Look for in a Good Locum Insurance Policy.

Top 5 things to look for in a good Locum Insurance policy

1.) Premium.

I thought I would put the most obvious one first! Yes it is important to have a competitive premium but this should not be at the expense of the quality of cover especially as there are some policies out there we would NOT recommend as an independent advice company. The best way to find out if your premium is competitive is to get several premiums from different companies or go to an Independent Financial Advisor like ourselves.

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Why reviewing your locum insurance IS a priority.

Having worked with practice managers for nearly 9 years in reducing insurance costs I have to admit that I am not envious of the challenges they face running or managing a modern medical practice. I am fortunate to have a good relationship with many who explain to me the different challenges they face, often to meet their budgets in an organisation where the 'goal-posts' are forever changing. One wonders whether this profession is becoming specialist in its own right and I wonder how long it will be before a University recognises this and creates a degree around the vocation?

However the downside of paddling furiously in any organisation is often things that 'roll over' for another year are often the 'small fish' to slip through the net and this is where as a financial professional I am concerned. More often or not a review of Surgery and Locum Insurance is seen as a low priority. Often passed to a part time member of staff or a deputy in a wish to clear desks for the most important areas. However in my opinion this results in false economy for the practice and ultimately the patients.

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Spreading the cost of payments for locum insurance.

We are now offering clients the ability to spread the costs of their insurance payments and locum insurance with Premium Credit Limited (

For25 years Premium Credit Limited has helped businesses and individuals pay for their insurance by spreading the costs over regular instalments, instead of paying the whole premium upfront.

Premium Credit Limited doesn’t just help businesses and individuals spread the cost of their insurance premiums, they also provide the finance to pay annual fees such as professional fees, membership subscriptions, commercial service charges and school fees. Premium Credit Limited has 2 million customers and has achieved advances of £3.7 billion in 2013, processing 25 million Direct Debits.

We are delighted therefore to work with the No.1 Insurance Premium Finance Company in the UK and Ireland.

Chris Dixon BSc (Hons) Dip PFS

Director Approachable Finance (Medical)

Why I love locum insurance.

Working in financial services you are aware that sometimes that we haven't had the best of press with certain financial products! Endowments, with profits, PPI etc. It is therefore a real pleasure to be advising on a product, locum insurance, where it meets the needs of your clients and the market place. It is also a real sense of achievement to help medical practices save money on unecessary insurance costs; money that can be reinvested into patient care and essential staffing needs.

Having advised on locum insurance for nearly 8 years I have seen massive changes within this niche industry. Changes I am glad to say have been for the better. 6 year ago I was working for a company who effectively held the monopoly for this type of cover across the UK. In my opinion the policy was insufficient in the level of cover it gave and its premiums were inflated and unfair. Fortunately pretty soon another large company soon started offering this policy at a much more competitive price and 8 years on there are probably 7 or 8 companies like ourselves offering this to the market place.

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About Approachable Finance


We are specialists in providing independent financial and insurance advice for Medical Professionals and Practices across the UK.


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