Using an adviser VS going direct to an insurer
It’s human nature to crave familiarity and ‘go with what we know’. Unfortunately, in many parts of life this doesn’t always give you the best possible outcome – including insurance.
Just like finding the best interest rate and features for your mortgage, finding the right insurer is exactly the same. You want the best possible option at a reasonable price. This is where using an insurance adviser really comes into its own, as better options may exist out there – options you’ve never considered or possibly even heard of.
Understand Insurance is an initiative of the Insurance Council of Australia, the peak body for the general insurance industry in Australia. It provides some great tips when choosing an insurance adviser and is well worth a read.
In the mean time, here are our top 5 reasons to use an adviser instead of going direct to the insurance company.
Life is busy enough without the additional stress of scouring the Internet, making countless calls and/or sending emails to insurance companies who, at the end of the day, are dedicated to promoting their own products. A qualified insurance adviser is dedicated to you – and will find the best deal from a wide range of insurers. There’s also the added bonus of only needing to deal directly with your adviser in the future – no changing of staff or relaying your story to multiple employees. Your broker becomes your trusted insurance adviser, and also happens to find great deals for you and your business.
Contrary to widespread belief an insurance adviser will not cost you an excessive amount of money. In fact they’ll most likely save you money. Lots of it. Insurance advisers have access to the very best rates from a wide range of insurance companies who are all competing for your business. They also receive far more competitive rates than you would going direct to an insurer as they have multiple clients, which means more buying power.
An adviser works for you, not the insurer. Their job is to find the policy that provides the best cover for what you need at the best price. After that, leave the haggling to them and relax!
4. Customer Service
It’s a common lament when dealing with big companies. You may experience brilliant customer service up front when enquiring about a new product, only to find the service falls by the wayside after the sale is made. An independent adviser changes all that, and will stand by you for the long term. They’re your primary contact for all insurance matters and will answer you personally and directly every time.
5. Confidence everything is covered
Having a trusted insurance adviser means you can ask as many questions as you like; including ones you mightn’t feel entirely comfortable asking an insurance company directly. Your adviser will know the full terms and conditions of your policies, inside and out, and will ensure you know exactly what’s included and what isn’t. It’s all about confidence and peace of mind.
Finding a good insurance adviser is a lot like finding a partner for life. When you find the right person you’ll know. And it’s a great feeling.
General Advice Warning
The information provided is to be regarded as general advice. Whilst we may have collected risk information, your personal objectives, needs or financial situations were not taken into account when preparing this information. We recommend that you consider the suitability of this general advice, in respect of your objectives, financial situation and needs before acting on it. You should obtain and consider the relevant product disclosure statement before making any decision to purchase this financial product.