Why Do I Need an insurance Broker to Get my Insurance?
At The Insurance Broker in Preston, this is a question that we get asked quite often, as you might guess. In today’s world, it is a simple matter to go online and click on one of the many price comparison sites that are available to find the cheapest product, and indeed, that is what many people do.
However, herein lies a problem. Do you want the cheapest insurance cover, or do you want the right insurance cover?
To begin with, many of the online comparison sites only compare a limited number of insurance companies. They earn their money by way of a commission from any of the insurance companies that they compare on their site when you buy that insurance.
However, since not all insurance companies are represented on the site, how do you know that you are getting the cheapest cover? It might be available for less from a company that they do not represent.
Even then, that is by no means the most important thing. You need the cover that will pay out in the event of a specific occurrence, and many insurance policies contain all sorts of terms and conditions that you only find out about when you make a claim and find that it isn’t covered! You always have to read the small print!
This is a very good reason why you need to use us at the Insurance Broker as insurance brokers in Preston because our job is to act on your behalf as the client and find the best policy for you. And the best policy is going to be one that covers things that might happen to you but may not happen to someone else in a different situation.
Insurance is actually a very complex subject and an insurance broker is an expert with an advanced knowledge of the insurance market and the ability to locate the right policy for your needs at the best possible price. Insurance brokers get paid in one of two ways: some will charge a fee for their services to you as the client, while others will get paid a commission by the insurance company that you select. At the end of the day, the choice is always yours, but as insurance brokers in Preston, we are here to advise.
Furthermore, insurance policies are usually worded in such a way that they contain a lot of legal jargon and terminology that can be very difficult for the man in the street to understand. You might read a policy and all the notes that go with it and think that you understand it, but do you? An insurance broker can help you make sense of what the policy is offering and of any inclusions or exclusions, and also of any requirements that the policy may place on you.
An insurance broker acts as a middleman and is sometimes a self-employed individual or works for a firm that is regulated by the Financial Conduct Authority. His job is not only to find you the right policy for your needs, and to explain it to you in words that you can understand, but he also has many connections in the insurance world that do not advertise their products and services on comparison sites. So in other words, the broker has access to many more policies than you could ever find yourself by using the search engines.
Many brokers also specialise in certain areas. For instance, at The Insurance Broker, our specialism is marine insurance. That doesn’t mean that we can insure your ship – although we could – but we find the right insurance for goods in transit from A to B, whether that is by road, ship, or air freight, or a combination of any or all of them. So if you are going to move abroad you might need one of a number of different types of cover that are available. However, if you are a business that ships goods abroad regularly, you will need a different form of insurance from somebody making a single trip.
So you can see why so many people turn to us at The Insurance Broker in order that we can handle all the complexities and make certain that you get the right policy for you.