When you buy your insurance products may auto insurance, home insurance or any other insurance products there are lot of protections that you wont get when you buy the same through a direct writer. See below what you will get other than insurance coverage if you buy through an independent insurance broker and what you will lose if you buy through a direct writer :
- Independent Advice: A broker represents many markets and will give you the best possible price and coverage. This advice will matter in case of a claim as well.
- You know who is your advisor as you will be dealing with him and or her throughout the policy term. No call centre where you don’t know who will be next…
- No wait times that you might face on call centre queues
- Advice: When you dealing with a direct writer you have to make your own decisions especially when you buying online. if a broker in error give you wrong advice he is covered by his professional liability insurance.
- Myth that price may be high with brokers is not true. As brokers deal with many insurers he will find you best price and product according to your needs.
- Your local broker not a call Centre creates local jobs…
- When you need them the most- Your local broker can meet you according to your needs whether it is consultation or claim situation.
- Unfair Business Practices: No insurer that writes business through independent insurance brokers will start a practice which is unfair without the consent of brokers as they tend to lose broker business. If some insurer start a practice which not fair with consumer broker can remarkets you with different insurer. Below is an example how your interests can be compromised while dealing with a direct writer.
https://www.canadianunderwriter.ca/insurance/auto-insurer-faces-lawsuit-credit-scores-accident-benefits-claims-1004131796/ (with thanks from Canadian Underwriter)
The benefits of buying insurance products through an independent insurance broker are many more and it is not worth to buy from call centres……….