If you currently buy insurance or are thinking of buying insurance you should think about using an insurance broker rather than going to the insurer direct.
A broker acts as an intermediary between you and your Insurer(s). Insurance brokers are experts in the market and can often find you better cover at a great price.
Here are a few reasons why going to an insurance broker might be the best choice:
Expert guidance does not cost you more
Brokers get paid commission by the insurance provider for selling their products. Insurers and brokers alike may charge you an administration fee when you purchase a policy however you don’t pay brokers a fee for shopping around for you to get you a good deal. They have specialist expertise, access to a range of insurers and can give you guidance on the products that best suit your needs.
Find the right product for you
An insurance broker owes a duty of care and are under a professional duty to find out a clients’ “Demands and Needs” and recommend cover that complies with those needs. If you go direct to an insurer you are buying the cover they have available.
A broker will also be able to tell you if you’re already covered by your existing insurance policies or have gaps so you don’t overlap or get left without cover, they will often get you a good deal by comparing prices and product features. They often have more flexibility on price and cover too.
Know your options
Insurers won’t always offer you every type of cover when you go directly to them. They owe you no duty of care and also are under no duty to tell you whether the cover meets your demands and needs. Brokers can help point out the types of cover available for the insurers they use and help you work out what you need.
Find a specialist provider
You might need specialist or bespoke cover, some brokers specalise in niche areas and have specific industry knowledge in these areas and provide bespoke, tailored policies with cover to suit the needs of particular client groups.
Claims are taken care of
If you need to make a claim your broker will be there to support and guide you at what can be a distressing time. They can speak to the insurers claims departments, meet with loss adjusters, appoint a loss assessor, help to negotiate settlements and provide advice so you don’t have the worry. If you go direct to an insurer you will be on your own in handling any claim you may be unfortunate enough to have.
Added value services
Brokers can often provide access to a range of resources, products and services free of charge or at preferential rates through their relationships with a wide range of insurers and suppliers. Everything from training courses, risk assessments, asset register and legal document templates along with products like leak detection systems, in vehicle cameras, CCTV and intruder alarms.
If you have any questions or queries on any of these topical matters, please contact Clear Councils Insurance for further information at [email protected].
