Save time. Make life easy. Pay a bit more to know you’ve actually got the right type of insurance cover.
There’s a heap of insurer websites and insurance comparison sites on the web these days – so why is the insurance broking industry still growing? What are insurance brokers doing that you just can’t get online?
Reason #1: Time Saving & Convenience
Insurance is complicated – and no one trusts the “fine print” of an insurance policy. You can browse online – but it’s much more convenient to have an expert talk you through a policy and tell you what you need.
Half the time you don’t even know what you need – so how can you search for it?
But if you find a good insurance broker who understands what you do, they can put together an insurance package and save you time. Have a chat to them when something changes, when you buy something new, or when your renewal is coming up – and know they’ve got you sorted.
Rather than waiting on hold for a call centre, text your broker a photo of the invoice for the new car you just bought, forward them the email from your landlord asking for a Certificate of Currency, or get your accountant to chase them up for that insurance tax invoice you can’t find from 4 years ago.
The whole point is your insurance broker knows you and your needs. They can get to work on something without asking you the same repetitive questions every time – it’s simple.
Reason #2: Quality Advice
Your broker knows what can and can’t be covered. They can warn you ahead of time, and help you decide covers you want to take, and what you will leave uninsured.
If you’re looking for Commercial Property Insurance – do you know you have to ask for flood cover separately? Do you know that glass is separate to building cover, or that insuring your air conditioning units against breakdown is an optional extra?
Your insurance broker can give you some prices on these options – but they can also explain to you what industry norms are. If you are a Commercial Landlord, your tenant might be obliged to insure the glass instead – so you may not need to double up.
If you’re in a strata complex you might think these things are covered as the body corporate insurance policy covers many things. What are the limits though? What do you still need?
These are the sorts of questions you just can’t get an answer to online. You need personal advice which can only be obtained through a qualified insurance broker, because the answer is different for everyone’s personal situation. A good insurance broker can listen and help explain what you need.
Reason #3: Personal Advice & Service
This idea of “personal advice” isn’t just common sense – it’s actually a real distinguishing feature for brokers compared to direct insurers or insurer websites.
When you’re reading something online (including this website!) – or when you talk to an insurer’s call centre, they can only provide you with “general advice.”
We’ve all seen the fine print at the bottom of insurance ads or heard them race to say “read the PDS and consider if this product is right for you…” – but what does that mean?
Simply put – it means that the insurer is not responsible if you choose the wrong cover. If you don’t select something, or don’t realise you need to disclose a particular circumstance and the insurer declines your claim – that’s not their problem. They never promised you the insurance was “fit for purpose.” They never said it was right for you. They just gave you a price and you gave them some money hoping it would pay if you ever needed it.
Your insurance broker on the other hand has to take personal responsibility for your situation. A good insurance broker will provide personal advice, giving you a policy that will cover the risks you want to cover, letting you know about the things which aren’t insured.
Maybe flood cover is simply too expensive because you’re near a river – but if you know this upfront, you can help plan and manage your risk in other ways. Your insurance broker is there to help identify risks, not just sell you a policy.
How do you pick a GOOD insurance broker?
A good insurance broker will do all the things we’ve mentioned above and more. They will be transparent and disclose their fees and commissions. They’ll be willing to put their advice in writing to you rather than hiding behind a general advice warning.
They will be knowledgeable about the products they sell and be able to explain the options you can take or that you should consider.
You’ll have their mobile number and know you can call and speak to someone who understands your situation at a glance so you will save time.
Consolidated Insurance Brokers puts itself forward as meeting all these criteria – in fact we’ve been recognised as one of Australia’s Top Brokerages in 2022 by industry peers; and by our many gracious clients willing to give our amazing staff a 5-star review.
Whether you need an insurance broker for business, an insurance broker for heavy vehicle insurance, or just a home insurance broker, we’re here to help!
Get in touch today.