Last year the advertising approach from some on-line agents and recent comments from other web-based aggregators in the Travel Space frustrated agents (perhaps an understatement!). We do live in an age where many of our life and business transactions can be completed online, but sometimes expertise and the human touch is crucial. The ease in conducting these transactions at a time and place that suits us certainly has an appeal, however, as you well know, using a Travel Professional versus trying to sort everything out yourself has different results.
Is going online the best option when we are evaluating insurance policies for your insurance needs any different?
When arranging insurance, many people take shortcuts without seeking proper advice, understanding the fine print or considering whether they are getting value for money. Often they are disappointed when their insurance doesn't come to the rescue.
Insurance can be complex and with new risks emerging all of the time, it can pay to get the help of an insurance broker when deciding what the best option is for you and your business.
Using an insurance broker doesn't necessarily cost more. Often it costs less because brokers have in depth knowledge of the insurance market and the ability to negotiate on your behalf. A broker will also explain your policy and any special situations you need to watch out for.
Below are five reasons you should take into consideration next time your business policy is up for renewal.
When you engage the services of a broker, they will look at your individual circumstances, assess your risk and evaluate what policy/ies are right for you. This will save you from having to seek out and compare what is available in the market.
Insurance Brokers have access to a wide variety of General Insurers and Underwriting Agencies with alternative products available that you would not receive direct from an insurer.
When you purchase insurance through a broker, you’ll gain access to professional help and advice about choosing the policy that’s right for your individual circumstances. A broker can identify potential risks you may face and recommend you cover for these, which is something you don’t always get when buying direct from an insurance company.
Insurance Brokers work for you, not the insurer. This means they will only recommend insurance solutions that are right for you and your business, not what is in the best interests for the insurers.
In the unfortunate circumstance that something should happen, a broker can help you with your claims enquiries and submissions, and ensure that settlements of your claims are correct.
When you buy direct from the insurer, you may have to make all insurance enquiries through a call centre or via email, getting a different person every time. Whereas with a broker, you receive personalised service from someone who will be with you every step of the way – from policy issuance to claims settlement.
Don’t forget to use a broker who is a specialist in your industry – this takes out much of the confusion. While no two travel businesses are the same, the Travel Industry faces unique risks and challenges that an experienced broker in your field will understand.
You will benefit most by developing a close business relationship where the broker understands your future plans, the associated risks and how you like to do business.
An insurance broker's foremost duty is to his or her client. An insurance broker works for you, not for the insurance companies.
If you would like to have Gow-Gates Insurance Brokers review your current programme, please feel free to contact Rebecca Fleming, Account Manager of our Travel Industry Division on (02) 8267 9919 or firstname.lastname@example.org to discuss your circumstances or to obtain a quotation.Gow-Gates Insurance Brokers advises that persons should not act on the material contained in this article as the items are of a general nature only and may be misinterpreted. We therefore recommend that advice be sought before acting in these areas.