Brokers Ireland, the premier representative body for brokers in Ireland, has produced this consumer guide outlining the main benefits of using an insurance broker, as opposed to going directly to an insurer:
Impartiality: an insurance broker is not biased towards or against any particular provider and will therefore pick the best option for their client, every time.
An insurer cannot offer impartiality – they can only offer their product range and service and so are biased in their approach. The client takes 100% responsibility for their own coverage decisions and for any mistakes they make as a result.
Relationship: an insurance broker is interested in building customer loyalty and long term relationships with their clients. They will spend time getting to know and understand their clients and their insurance needs in order to provide long term satisfaction. Here at Martin Insurance Brokers you’ll be assigned a dedicated account handler who will always be on hand to deal with your queries or policy amendments.
An insurer cannot offer a personal relationship: in most cases, clients will be dealing with a different person every time they contact an insurer’s call centre. As a result, no personal relationship or loyalty is built up or maintained over time.
Claims Service: in this most important area of all which deals with the key reason for the purchase of insurance in the first instance. An insurance broker will guide their customer through the claims process and effectively manage the claim on the client’s behalf, taking away the burden and stress of claims handling from the client.
When dealing with a direct insurer, a customer must handle the claims process themselves – a process that often leaves clients bewildered and confused and at a disadvantage
to negotiate settlements and conflicts that may arise.
Best Price: an insurance broker will provide the best price for the appropriate cover from the best provider, every time. Value for money comes down to more than price when picking an insurance provider and while the broker may well get the lowest price, their focus will be on true value for money, i.e. benefits to the client.
A direct insurer can only provide a single price for their own specific product, which may not be the best product choice for the client when all factors are considered.
Should you wish to discuss any aspect of your insurance arrangements, please do not hesitate to contact us on 049 433 2944, e-mail email@example.com or complete our online enquiry form.