Main points: 

• Insurance brokers have in-depth knowledge of insurance products and the industry. 

• They provide personalised advice tailored to your specific needs. 

• Brokers advocate for your interests as an intermediary between you and insurers. 

• They compare policies and quotes to find the coverage you need. 

• When authorised by the Financial Conduct Authority (FCA), brokers can give you advice. 

• This valuable risk management advice allows you to make an informed choice on your insurance. 

Insurance brokers make getting insured much simpler, saving you time and money.

A broker will also ensure you have the correct cover in place and do all the hard work searching for what you need. With comparison sites becoming more and more popular, it’s important to be aware of when to use a broker instead of taking a risk online with your cover.

Let’s explore what an insurance broker does and why you will benefit from these services more than a standard insurance comparison website.

Why should I use an insurance broker instead of a comparison site? 

You need someone knowledgeable and advocating for your best interests when looking for insurance. By working with a broker, you can be confident that you’re making informed decisions about your insurance. As a broker, we are experts in different types of insurance and can use this knowledge to better guide you as a consumer towards the right policy to match your needs. 

While using a comparison website can seem like a quick fix to getting insured, it can also make getting coverage trickier, depending on what you need. The personalised elements in the insurance application process can leave a higher error margin if a shopper uses a comparison website. Making a mistake during the insurance application process can have serious consequences for you as a policyholder if you don’t have an expert on hand to help. 

What is an insurance broker? 

An insurance broker acts as an intermediary between insurers and customers. Instead of providing our own policies, we offer coverage from other insurance brands. We have access to various insurance products from various insurers, giving you more options than buying directly from a single insurance company. 

With so many different policy types at our fingertips, we can tailor your coverage to suit your needs. As a result of our well-developed, trusted relationship with insurers, you can get a better deal on your policy premium when applying for a policy via a broker.  

What does an insurance broker do? 

As brokers, we assess your insurance needs and guide you through suitable policies. We handle the research, policy and quote comparison, and the mountain of paperwork involved—so you don’t have to.  

Many of our services involve advising on the types and amounts of coverage needed, comparing policies from different insurers, and assisting with purchasing insurance policies.  

Our job doesn’t end when you’ve signed the dotted line and have gotten insured. We provide ongoing support throughout your policy’s lifetime and beyond, from renewals to adjustments and cancellations. 

Whatever you need insurance-wise, whether that’s help reading and understanding your policy or support, as your broker, we’re here to help.

What Is the Difference Between an Insurance Broker and an Insurance Agent? 

Insurance agents work for one insurance company and represent their insurance brand. They primarily represent the interests of the insurance company they work for. 

On the other hand, insurance brokers work independently. Unlike insurance agents, brokers can provide customers like you with access to multiple insurers’ policies. We are legally obligated to act in your best interests and provide unbiased advice.  

How insurance brokers help shoppers. 

First, let’s look at some examples of how brokers can help consumers looking for insurance.  

Our first example is someone shopping for car insurance, which requires a comprehensive policy. Despite needing a higher level of coverage, this insurance shopper may believe that third-party, fire, and theft coverage is enough to suit their needs. As a result, they could purchase a lower coverage level via a comparison website.  

Unfortunately, this shopper may be surprised when it comes time to claim an insurable event, such as a cracked windscreen—a popular feature in many comprehensive policies. In this example, their insurer won’t foot the bill because their purchased policy does not cover this. Even if this consumer tells the insurer about this honest mistake, making a claim would not be possible.  

Similarly, these types of errors can affect motorists seeking commercial insurance. A delivery driver could make the same error as the above example by purchasing courier insurance on a comparison site – without realising that they also need additional goods in transit coverage.  

Standard courier van insurance won’t cover the driver’s parcels between drop-off zones. If an accident causes the goods to be damaged in transit, their van insurance will not be enough to cover the cost of a claim. 

For commercial insurance shoppers, a broker can offer guidance suited to your work. A motor trader insurance shopper searching for a combined motor trade insurance policy may need expert advice specific to their industry.

Alternatively, a taxi driver looking to grow their business with more drivers might want a helping hand working out whether it is cheaper to cover their cabs under a fleet insurance policy or with a standard taxi policy.

With an insurance broker, these types of pitfalls can be completely avoided. As a broker, we assess your circumstances, the policies needed, and the type of cover you want with our very specific question sets and sophisticated quote-chasing technology. 

Can insurance brokers give advice about which coverage to choose? 

When you opt to find your insurance via One Sure Insurance, our teams can provide you with an advisory service.

This service allows us to offer recommendations to you as our customer to ensure that you get the perfect policy to suit your needs. You can freely ask our insurance experts, ‘Which policy do you think is best for me?’ and we can provide you with an answer. 

Only some brokers or insurers can provide this type of guidance. The Financial Conduct Authority (FCA) must authorisee a broker to offer ‘advised sales’. If the broker meets the proper requirements, the FCA gives the firm ‘authorisation to advise on or arrange general insurance’. 

Specialist insurance broker services at One Sure Insurance 

No matter what type of insurance you need, we’ll find you tailored coverage and the most competitive quotes on the market. Call us on 0800 3777 390 to get an insurance quote and start your application for your policy today.