Why have a broker?
Primarily customers perceive any middle man as an unnecessary third party and conventional wisdom dictates that this means additional costs and possibly mistakes.
What we found was important to clients:
A common misconception about the insurance industry is that cutting out middle man can save on costs. This is in fact a myth and not true.
Insurance brokers understand the consumer needs and ensure that the customer is insured correctly. Insurers gives special rates to brokers which means lower premiums for the customer. The reason for this is because brokers are trained to select the correct policy and avoid unnecessary claims, which also makes the risk lower for the insurer.
After a broker carefully assessed the customers needs, they can provide a variety of quotes from different insurers (they also have access to insurers that do not sell directly to the public) at a competitive price.
Although it might be quicker to jump online for a quote, a broker will ensure that you are properly covered. When it comes to mid term changes, with direct services you most probably will have to deal with large call centers (and we all know that struggle), where a broker will sort out everything for you. So, in the long run, having a broker will be quicker and more efficient.
There are many ways to communicate with a broker, whether it is face to face meetings, by email or with a phone call.
Brokers ensure that you receive fair payment when it comes to your claims. They act as your advocate when there is a dispute. A broker has many contacts and vast knowledge of the Insurance industry and can help settle a disputed claim quickly.