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Are insurance brokers worth it?

We break down the typical customers into 4 different groups and work out whether an insurance broker is worth it for each


Priority is the right cover

This person is in the market for personal insurance (home, contents, car etc.) When looking for insurance they do their research about the policies.

Should this person use a broker?

Yes. Brokers often have access to better policies and will advocate for there clients at claims time. A person who is prioritizing the right cover will find these services immensely valuable. 


Priority is the cheapest price

This person shops around diligently for the best price. 

Should this person use a broker?

No. Insurance companies pay an insurance broker commission to administer professional advice. This costs and thus the prices provided are not the cheapest in the market. 


Priority is the right cover

This person is a prudent business owner. They sleep better at night knowing that they are properly protected if anything was to happen to their business.

Should this person use a broker?

Yes. Business insurance policies are complex, there is little information available online and one word can be the difference between having cover and not. Always use an insurance broker.


Priority is the cheapest price

This person is focused on the bottom line. They love a deal and are always negotiating for a cheaper price.

Should this person use a broker?

Yes – but with a twist. Brokers often have access to the cheapest prices for business insurance clients. Since these people are less focused on the advice and relationship with their adviser, they can approach brokers differently. Instead of going to one, they could go to two or three different brokers. 

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