Generally speaking, Insurance Brokers aren’t very good at telling customers what we do! Which has allowed Price Comparison Websites and Direct Insurers to drive the narrative and imply that brokers add cost without delivering added value. (although Price Comparison Websites earn the same or more commission as well for either placing the quote or simply clicking through to the insurers own website!)

As Insurance Brokers we explain your responsibilities as a customer and ask for more information than other routes to market to limit the risk of accidental non-disclosure. We consider a range of providers, not only on price, but on policy cover and the service the insurer provides, using our experience and judgement.

As Brokers we have a duty to act in your best interest and provide a policy which meets your needs, and where we give advice, offer the best available.

We review policy terms and point out any unusual or significant terms, conditions, and exclusions in an understandable way – with no ‘assumptions’ made.

We can help and advise on claims, often correcting an insurer misinterpretation, and chase to achieve resolution with FCA Claims data showing that customers get a far better outcome through the broker channel.

But if we fail in performing these duties, we are accountable to you via complaints procedures, the Financial Ombudsman. And then we do it all again at renewal!

To Summarise
• Buying through a broker is the safest way of obtaining insurance, with fewer claims repudiated and better information provided on policy restrictions.

• Brokers provide an independent opinion on the policies we sell, which cannot be influenced by the remuneration we receive.

• We can offer Add-on products which fill gaps in primary policy cover that may otherwise remain.

• Mandatory training requirements mean that the as brokers, our knowledge is relevant and up-to-date.