5 reasons to use an insurance broker instead of DIY
Published 30 November 2017
Last updated 30 November 2020
Cut out the middle man. Sounds like a great idea, right? You stand to save on costs, it should be simple, you can get it done quickly, ensure your particular needs are covered and control the security of your personal information.
Except that when it comes to insurance it doesn’t work like that. Here are 5 key reasons to use an insurance broker – and they’re the same reasons you might think are the benefits of going direct to the insurer.
You’ll get the best cover for your money
Insurance contracts can be complicated and difficult to understand. If you buy insurance online, basing purchasing decisions on price alone, can you really be sure you're covered for the risks you face? That's where insurance brokers excel. They understand insurance contracts. They can assess your individual risks, advise you on the type and level of insurance cover you need and then find the best prices available in the market for that cover. Plus they have access to specialist underwriters who understand what’s involved in owning original artworks or a boat, for example.
You’ll get a tailored solution
Insurance brokers aim to create your business a complete insurance package, saving you having to cobble together policies online from an insurance agency that may [or may not] meet your needs, and also providing you a single renewal date.
You'll have help when you need it most
When you engage a broker you will be assigned a dedicated business partner. They will take ownership of your insurance needs and act on your behalf, saving you time and trouble. And in the event that you have to make a claim they will have already made sure you have recorded the required documentation to support it. Better still, they'll manage the claims process on your behalf and negotiate with the insurer to make sure you get the best outcome.
You’ll get bespoke service
While you get on with your business your broker will search the market for the most appropriate cover for your situation and assets, using their assessment skills to make sure you are not underinsured. Then they will put together some options and talk you through the fine print, alerting you to exclusions and policy excesses.
You’ll stay on top of changes to your business's risk profile
When it comes time to renew your policy your Gallagher insurance broker will contact you in plenty of time to review your current insurance program, to make sure all significant factors affecting the value of your cover are still covered .that all your risks are still managed, check if you have acquired or disposed of any assets, and any significant factors affecting the value of your cover.
Get a quote today
If you would like to speak with a Gallagher insurance broker about a free no-obligation insurance review for your business, please call 1800 240 432 for your local branch or complete our contact form below.