Why choose an insurance broker?
Why choose an insurance broker?
Finding the right kind of insurance cover can be a time-consuming and expensive task. If you’re keen to find a better deal, or you’re unsure of the level of insurance required, an insurance broker could be the right choice for you.
Brokers are insurance experts in the market and have a talent for finding the right cover for the right price.
For niche insurance requirements find a specialist provider. Comparison sites, or going direct, aren’t obvious mediums for identifying any essential items excluded, such as income protection or breakdown cover.
Brokers are independent and work with a carefully selected group of insurers that they have regular contact with and are usually able to secure exclusive deals.
Top 10 benefits at a glance:
- have access to a wide choice of products from the majority of insurance markets
- can give advice on suitable insurance protection
- can represent the client in claims settlements
- are regulated by the Financial Conduct Authority
- can give risk management advice by identifying, measuring, managing and controlling risk and where appropriate can give advice on health and safety, fire prevention and premises security
- provide clear information and documents
- have their own professional indemnity insurance protection providing customer confidence
- clearly state the costs of the policy including any fees they may charge
- give fair treatment to customers in the event of a complaint, with the additional assurance of the Financial Ombudsman Service
- eligible customers are protected by the Government-backed Financial Services Compensation Scheme
Using a broker doesn’t cost more than going direct.
It’s important that no insurance jargon goes unnoticed. A broker is responsible for ensuring any optional extras or cover not included within your policy are clearly disclosed to give you a clear understanding for the level of cover being offered.
It’s also difficult to arrange bespoke cover for high value or collectable items, but brokers are likely to have insurer relationships in place to obtain a personalised quote.
Not only is your broker there to see you obtain the best deals available on the market, but any claims are dealt with via your broker to save you the hassle and worry, through what can be a difficult and frustrating process.
For more details on how a broker is best suited for insurance needs watch the video below.