Why it is better to use a broker

Nov 14, 2017 | Business Insurance, Why you need a broker

It’s better to go broker…

Brokers are by no means dispensable middlemen. The notion that direct business with insurers is equally as efficient whilst more cost-effective than utilising the services of an insurance broker is a myth! This could end up being very costly at a time when you can least afford it. The whole point of insurance is to cover you in a time of need and brokers are the vital intermediaries who act on your behalf to ensure that you are well insured.

Here is why we claim, “the broker, the better”:

 

You don’t know what you don’t know – but brokers do!

Brokers are experienced and educated in the insurance landscape – something which most potential clients cannot say of themselves. Brokers are skilled to do a proper needs analysis and cross-check your options to make sure you get the best and most suitable deals. They assist with disclosure and do their checks early in order for increased transparency and less surprises in the claiming phase. A layperson can seldom do a professional’s job and this also holds true when it comes to navigating the world of insurance.

Your best interest is their best interest 

Brokers do not sell their own products, which is the case with insurance companies. Thus, they are not salesmen interested in you purchasing something from them to make a quick buck out of you. You as a client are your broker’s business. This means that their own wellbeing is affected by your experience. They make a living from keeping you happy and are not out to give you as little as possible for as high a premium as possible. On the contrary!

Brokers do better for your bucks

Many people bypass brokers, believing that this is the cheaper route. However, that is an expensive mistake based on misinformation. Using a broker saves money for various reasons:

  • In the first place, brokers make certain that you do not pay unnecessarily high premiums as they help you make the best insurance decisions for your needs and budget.
  • Furthermore, the insurance options you buy are mostly not more expensive than if you purchase directly from insurance companies – it could even be cheaper! Keep in mind that these companies also benefit from intermediaries as it prevents countless queries and unworthy claims from landing on their desks as brokers deal with the clients. They thus offer special prices to brokers who in turn can give special prices to you.
  • Lastly, not using a broker may turn out to be very costly in the claims phase. You are guaranteed to have better pay-outs if your selection of insurer, contract and claims are checked by an experienced broker.

Ease, please!

Your broker is a special type of servant that helps you choose wisely, offers more speed and efficiency during quoting, assists during every phase in the insurance process (which is especially helpful if you need to claim) and helps resolve queries. Apart from money, they also save you much time and effort.

Your broker has a type of relationship with and understanding of the insurer that you simply do not have. Why choose not to have an expert on your team? And yes, your broker absolutely plays for your team!

Bottom line?

Brokers foster your finances, free up your time, fend off frustration and forestall failure of getting the compensation you bargained on! 

Would you like to reap the benefits of working with an insurance broker? Contacts us!

Contact Details

Landline: 0860 782 887

Cell no: 061 320 8992 / 062 501 9632

Fax no: 086 568 7153

Email: info@statusib.co.za

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Status Insursance Brokers is an Authorised Financial Services Provider. Licence no. 2278