Pros and Cons of Using an Insurance BrokerPros and Cons of Using an Insurance Broker

An insurance broker is your helping hand if anything goes wrong in the running of your business. In this latest blog from Insurance Web, we have put together the pros and cons of using an insurance broker.

Find out more by reading below. If you need any further advice please get in touch with Insurance Web. Phone us on 1300 956 233 or contact us online here.

Pros of Using an Insurance Broker

Insurance brokers specialise in insurance and it is their role to understand your business, identify any potential insurance risks and find the best available cover for you. Remember your broker works for you and not the insurance company. Other pros include;

  • Professional advice on products and services available to you.
  • Advice on historical data for your industry.
  • Access to a range of different policies.
  • We offer advice on policy features, exclusions and costs of competing policies in the market which isn’t readily available to the general public.
  • Assistance when making a claim.
  • An insurance broker can save you time, money and worry.

Cons of Using an Insurance Broker

  • Dealing directly with insurance companies may save you money, however without entirely understanding the terms and conditions of your insurance policy, do you know if you have the right cover, and will the policy respond in the event of a claim? It may well turn out to be an extremely expensive exercise
  • Lack of understanding of terms, conditions and policy exclusions – it is all too often the case that there is disappointment when a claim arises and the insurance policy doesn’t respond in the way customers believed it should.

Claims are Easier with an Insurance Broker

If you ever need to make a claim, we will act on your behalf. From lodgement of the claim, to checking on progress, providing professional advice along the way, right through to ensuring settlement is prompt and acting as your advocate should there be any concerns with how the insurer settled the claim.

Insurance Web takes pride in our in-house claim’s management service for customers. Should you ever need to make a claim, simply call us on 1300 956 233 and we’ll handle it from there.

Pros & Cons of Using an Insurance Broker

Take the worry, hassle and stress out of insurance with the team at Insurance Web. Call our office today on 1300 956 233 or contact us online here.

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Insurance Web is your local insurance experts. Known for our simple processes, cost-efficiency and trustworthy staff, we’ll help you get the right business insurance cover so you can trade confidently and securely right now!

Do you need to update your insurance program or looking to launch a new business? Call Insurance Web today, or submit an online enquiry here.