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. We have access to over 40 specialist insurers in Ireland, UK & Europe to obtain the best quote based on your insurance requirements and our professional knowledge and expertise.
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. We spend time, at quotation stage and throughout the life of the policy, getting to know and understand our clients, their businesses and their insurance needs in order to provide the right insurance cover and ensure 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: this is the most important area of all and the key reason for the purchase of insurance in the first place. We will guide our customers through the claims process and communicate on the claim with the insurer on the client’s behalf, taking away the burden and stress of claims handling. Our claims handlers have 40 years’ experience in negotiating and agreeing claims settlements, even in cases where the settlements were initially denied by insurers or offered on less advantageous terms. We also make sure that the claims process is in line and within the strict timeframes of the current consumer protection legislation, as well as the specific policy terms and conditions.
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 insurer and while we may well get the lowest price, our focus will be on true value for money and benefits to our clients, such as the insurer’s claims service, financial security, flexibility, etc.
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.