Reasons to use an Insurance BrokerWhy Should you use an Insurance Broker

When it comes to running a business, you have a lot to think about. One of the questions running through your mind might include why should you use an insurance broker?

While it could seem like a relatively small question in the whole scheme of things, it’s one that you need to think about in order to protect yourself, your business and anyone else invested in your business.

To find out more continue reading our blog below. If you have any further questions or need some advice, talk to our friendly team at Insurance Web. Phone us on 1300 956 233 or contact us online here.

Why Should you use an Insurance Broker?

When arranging insurance without dedicated professional advice, many people fail to understand the policies they are purchasing or indeed what policies are available to protect themselves and their business.

The advice of a qualified practicing insurance broker should be considered a vital component of the business process.

Insurance brokers are there to advise business owners and managers on the best ways to “transfer” the inevitable risks they carry as part of doing business. This, in turn, enables businesses to plan ahead with the certainty of knowing they have financial protection against loss, injury or threat to the well-being of their business or their personal property.

 Advantages to using an Insurance Broker

  • Insurance brokers specialise in insurance and it is their role to understand your business, identify your insurance risks and find the best available cover through our range of insurer providers.
  • Insurance brokers have access to a range of different policies and will advise you of the policy features, exclusions and costs of competing policies within a market most often not available to the general public through direct access to insurance companies.
  • For example, dealing with a Steadfast Broker enables you to have access to the Steadfast policy wording which is negotiated through the buying power of the largest insurance broking dealer group in Australia. The end outcome is an enhanced product that provides benefits over and above that available to the general public.

Why Choose an Insurance Broker for your Business?

  • An insurance broker works for you and has the ability to look up historical data and provide advice on your specific industry.
  • The role of a broker includes educating clients and providing awareness of potential risks.
  • Offer advice on what products are in the market to provide financial protection against these risks.
  • The more complex the business is – retail, manufacturing, importing, wholesale or trades and/or professional services – the more valuable the support and advice you obtain from our broker is.

How a Broker can Help if you Need to Claim

  • Insurance brokers, as opposed to an agent of the insurer, act in the interests of their clients, not the insurer.
  • The only exception is where a special agreement with an insurer exists, which will be disclosed to you if it’s present.
  • Should you need to make a claim, an insurance broker is your professional advocate, working for you and providing invaluable advice and assistance in the management of a claim.

Call Insurance Web Today

For all the best advice on why you use an insurance broker, phone the Insurance Web office 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.