Why Use An Insurance Broker?
The reason you buy insurance is to protect yourself and your family. Whether you are insuring your home, your car or your life, you want to make sure you are getting the best possible coverage at the best possible price. Many people turn to price comparison websites but this can lead to a few issues; the cheapest price is not always the best deal and many people do not fully understand the terms and conditions of the policies on offer.
The easiest way to get the best deal on insurance is actually to approach a broker. As the broker will be working for you and not an insurer, their job is making sure you get the most for your money. Rather than browsing online and choosing what appears to be a good deal, you are employing a qualified, experienced specialist to act on your behalf. A good broker will spend time researching various policies which fit in with your circumstances and requirements. The majority of us wouldn’t attempt gas repairs or car mechanics without training, so why take a risk on something as important as insurance? Remember that the questions on comparison websites are fixed and do not allow you to elaborate on specific circumstances.
Here at Lifesure, we recommend you, not the insurance company administering the policy. We can use our professional knowledge and experience to source the house, car, travel, business or other insurance policy which most closely matches your needs.
Will it be expensive?
Contrary to popular opinion, using an insurance broker won’t actually cost you any more than shopping around for yourself. In fact, it will actually cost you less in many cases as our experience and industry knowledge lets us choose a policy which does what you need and want it to, without the added cost on unnecessary or inappropriate extras. Buying a policy which is truly suitable for you and your requirements removes the risk of any financial cost of discovering you are inadequately insured should you need to claim.
Is it more complex?
Rather than being more complex, buying insurance through a broker can make your life a lot simpler. As well as matching the policy to you, the broker will deal with any claims you need to make. The broker will fill in the initial claim forms and follow it up to make sure your claim is dealt with smoothly and efficiently. This can be a huge advantage in a time of great stress!
Advantages of using a broker
To summarise, the main advantages of using an insurance broker are:
- Dealing with a person with extensive knowledge and experience
- Ability to purchase a tailored policy which is truly the best fit, both for cover and for price
- Building a relationship with a real person, not spending time on a computer ticking boxes
- Not needing to research the insurance market for yourself
- The broker takes full ownership of any issues or claims, leaving you to get on with the other aspects of your life
The Financial Conduct Authority (FCA) now regulate all insurance bodies for your protection and all insurance advisers must ensure, before they offer quotations or advice, that they are aware of your personal needs and requirements and offer a product that will satisfy both.