TRUTH OR LIES: About using an Insurance broker.
#1: You can do a better job organizing your own insurance.
We specialize in looking and organising each client’s insurance needs and policies. We make sure clients are getting the best deal.
#2: You have to pay for the services of an insurance broker.
Insurance brokers are remunerated by insurance companies and therefore there is no extra cost on top of the policy, charged to the client. Therefore, whether you go direct to the company or through a broker the cost will be the same, or in some cases better value through a broker.
#3: Premiums are lower when commissions don’t have to be paid to the brokers.
Direct insurers spend large sums on expensive advertising campaigns, eliminating any possible savings. Fortunately, we deal with many different insurance companies and we know the best fit with the most benefits and lowest premiums for your situation.
#4: Brokers are independent and can do anything they like without reporting to anybody.
The FSA in the UK and the DGSFP in Spain makes brokers fully accountable for their actions and the Ombudsman is there to ensure this happens giving you complete peace of mind.
#5: If a broker messes up you have no protection against that.
Apart from the protection afforded by the FSA and DGSFP, brokers are required to be insured against making professional errors and the insuring public is within its right to make this inquiry of a broker.