6 Reasons to use an Insurance Broker

Insurance is a fact of most adult lives, just like death and taxes. If you have a home, it’s likely insured. If you have a car, you need car insurance. If you want to buy insurance, it’s easy to pick up the phone and arrange it right away, anywhere in New Zealand, as long as your phone is connected. But with all the insurance broker companies out there, how do you know what policy is right for you?

Getting the wrong insurance at least costs you money and at worst, it can mean that you’re not covered for exactly the situation you were trying to cover. Therefore, it makes sense to get an insurance broker, who deals with it every day, rather than try to decide yourself when it’s something you’re likely to do, last-minute when a premium comes up for renewal. Here are 6 good reasons on why to use an insurance broker:

6 reasons you should use an insurance broker

1. It’s Free.

Brokers provide a free service to you as a consumer. They earn their money by earning a commission on the policies they sell, and they will have agreements with all the major insurance companies so they aren’t more preferential to one or another.

2. Different Providers for Different Cover

Different deals exist from different providers for things like life insurance and mortgage protection insurance. If you’re arranging it yourself, it’s easier to get them all from the one provider but your insurance broker will advise on the best options for you. This means you get it through the one broker but from different providers and it can definitely save you money in the long term.

3. Their Expertise

Insurance brokers deal with different clients and needs every day so it’s likely they’ll have come across a similar scenario to your own previously and be aware of the current deals that will suit the individual needs of you, your family, or your business.

4. Market Research

It’s a broker’s job to know what options are out there and part of their role is searching the market for what suits you, saving you a valuable amount of time. They can also understand and explain the small print and collate a number of options that might suit you best.

5. Making It Simple

Insurance brokers usually create a single portfolio policy that combines your life, trauma, mortgage, income and redundancy insurance into one, with one renewal date. This relieves you of the headache of different renewal dates and trying to remember to pay them all on time. They will have something in place to make sure the payment isn’t a hassle for you.

6. Making a Claim

If you have to make a claim, it can cause a lot of extra stress. On top of whatever the event was causing the claim, sorting through the paperwork and providing the supporting documents can be a real headache. However, if you’ve been using a broker then you have someone working for you to achieve the best outcome. Your broker can act as an intermediary between the insurer and the insured by speaking to loss adjusters and claims departments, if required, allowing both parties’ viewpoints to be represented.

Working with a broker ensures you get the right type and level of coverage whilst saving you time and money. Ease Insurance can help with any insurance questions or inquiries you may have. And even if you want more reasons to use an insurance broker, contact us.