Why going direct to an Insurer may not necessarily be the right course of action for you!
With the way premiums are rising, you may be considering bypassing your Broker to try and get a better deal direct with one of the Insurers yourself. But is going direct always a better deal for you? There are a number of things to consider when taking this course of action.
In a nutshell, the role of a Broker is to source and present the best possible insurance solution for their client…YOU. They represent you, NOT the insurance company, and act on YOUR behalf. Brokers have industry training and qualifications to help you understand more about your insurance and can ensure that your policy caters specifically to any special circumstances you or your business may have. It is a tailor made program suitable to you, not an off the shelf product that may not be entirely suitable.
Still not convinced? What if something goes wrong, who will be there to help? Your Broker will. If it's a claim, they are there for you from start to finish. They will negotiate with the Insurer on your behalf and are able to decipher policy wordings into simple, plain English terms. You can call your Broker at any time and know you will have that personal service – not a random call centre operator who knows nothing about you or your claim. Anytime you have questions, they are there for you – now that is reassuring and provides peace of mind.
So how is going direct any different? Well, going direct to the Insurer can be restrictive as they can only sell you their products so in other words, there is no advice given, you 'take it or leave it'. With a Broker it is our obligation to source a product through the host of Insurance companies available, allowing more opportunity to provide a policy that suits YOUR individual policy needs and requirements.
Please do not be mislead, within our profession we work along-side the Insurance companies and after all, it is the Insurer who takes on the risk and pays the claims and without them we wouldn't have a product to sell or promote. The simple fact is that relationships are very important and whichever way you decide to go, you need to ensure you are comfortable and well informed with your decision.