I often get asked ‘Why should I have a broker – surely going direct is best?’ Whenever I hear this, I often reflect on the great marketing efforts done by some insurance companies that have made consumers believe that cutting out the ‘middle man’ is best; and then how we, as consumers, are so susceptible to the marketing messages fed to us that we take it as truth without considering the facts.
This “cutting out the middle man” marketing message is a prime example of this. As I will point out in the points below, the benefits of having an insurance broker should leave one questioning ‘Why don’t I have a broker?’
We do all the work for you
As we work with a large number of different insurance companies, we are able to ‘shop’ around for you to ensure you get the best quotes –saving you both time and money.
I typically complete all necessary documents on the clients’ behalf and monitor the entire process from start to finalization –giving my clients peace of mind every step of the way.
Central place for all your policies
Our clients find comfort in having all their insurance policies managed by one company, making their various short term, business and life assurance policies easy to access.
We are our clients’ personal advocates
I think this is possibly one of the biggest reasons to have a broker. Firstly, as I personally know each of my clients’ needs and risks, I am able to offer personalized advice which enables me to highlight extremely important clauses within insurance policies. This then ensures that my clients are always in an informed and educated position when making decisions.
Secondly, a broker is uniquely positioned to ‘fight your fight’ on your behalf when a claim needs to be paid. There have been so many cases where insurance companies have initially rejected claims but after careful negotiations, I have been able to get the insurers to approve the claims by helping them understand that each circumstance and situation is different and thus each claim should be carefully considered taking all arguments into account.
No cost to you
Consumers are led to believe that not using a broker means cheaper premiums. As the consumer pays no additional fees to have a broker, this misconception is simply untrue. Insuring directly often means heavier premiums for the consumer as the insurance company builds ‘no claim bonuses’ and similar ‘benefits’ into the premium. Using a broker on the other hand will more than likely result in your premiums being decreased as your broker will be able to obtain various quotes from various insurance companies and thus ensure you’re not paying more than you should.
You’re kept in the loop
My clients typically have my mobile number saved on their mobiles, as well as have me as a contact on Whatsapp so in the event of a claim, they can get hold of me instantly. They don’t need to worry about calling call centres, being put on hold, waiting for reference numbers, being transferred to numerous departments and speaking to numerous people. They can literally just whatsapp me if they like or call me directly and I will handle their claim from start to finish. They also know that they can contact me at any point with any insurance questions or needs.
Hopefully now that I have given you some facts around the benefits of having a broker, you will raise your eyebrow when you next hear that marketing message trying to convince you to ‘cut out the middle man’.