January 31

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Benefits of Using an Insurance Broker

January 31, 2023


An Insurance Broker will always put the customer first before anything else. You will get independant and qualified advice backed up with experience of knowing the Insurance Market.

 

The Key Benefits of using an Insurance Broker is they put the customer first providing independant advice

 

Below are just some of the key benefits to using an Insurance Broker


Insurance Broker will provide Expert Advice and Knowledge of the Insurance Market in Spain:

Insurance brokers are qualified professionals that know the market and all the complexities. The process to become a qualified broker is quite extensive. This being the case, you are getting the best advice and guidance possible.

 

All Insurance Brokers require their own professional liability cover so you can rest assured any recommendations are always backed up. Their recommendations always will relate to the whole market and are non biased.

 

Access to multiple insurance companies:

Insurance brokers as mentioned work with many insurance companies. The companies chosen are ones which they will have a relationship with and are regarded as the top companies in the insurance sector. The added benefit is if you have different types of vehicles and sizes of homes then an insurance company can always be found to match the risk, whether that be price focused or a certain level of cover needed.

 

Hassle-free claims process:

Claims can be complicated and having an expert team and broker guide you and take control of the process, can never be underestimated. With the many years experience brokers will make sure the claim is handled quickly and fairly.

 

For example Consorcio (natural disasters claims) are quite complex and brokers will take all the stress away from the situation. Usually these types of claims can be quite large in terms of damage caused; having an experienced broker on hand will be a godsend and make the process a whole lot smoother.

 

– The consorcio is a government organization in Spain that covers natural claims such as major flooding, burst river banks and major fires.

 

Getting updates on claims is a priority for any broker. When you compare this to having to deal with a company directly, you will get treated as a number and it will be very unlikley you have a contact to deal with directly. It is not unheard of for online companies (I will not mention any names!) to provide a number to call which you have to pay extortionate rates for.

 

A good example of a claim we see where clients deal directly with some insurers is the following. Car insurance accidents where it may be a little unclear who is at fault, the insurer will tend to want to solve the claim quickly and so will say the claims is a “Knock for Knock”. Therefore, no party is to blame and since you have had a claim, your no claims bonus is affected. Unlike working with a Broker who will fight your corner and make sure your no claims is not affected if the accident is not your fault.

 

– When dealing with online companies directly they charge a substantial amount for “no claims protection” on policies. Whereas when using a broker, the policy can include this as standard with no fee added. ‘No claims protection’ is important since if you have one motor accident your no claims bonus is protected, so your premium will remain the same the following year.

 

Personalised service:

Insurance brokers work directly with you to understand your unique needs and personal circumstances. A broker will always provide personalised recommendations to meet your specific insurance requirements.

 

Long-term relationship:

An insurance broker can provide ongoing support, helping you with policy renewals and updates, and providing advice as your needs change over time. At Bsure we are thankful to have clients stay with us for over 20 plus years. Feel free to see our Testimonials to see what they say about us!

 

About the author

David Bloomfield - Health and Liability insurance specialist

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