These days, it seems all too simple to go on line and in just a few clicks or taps, anyone can arrange a quotation, access a Policy Wording or Product Disclosure Statement (PDS), and then buy insurance without ever having to consult an insurance broker. In other words, they become their own “expert”.

However, when arranging insurance without dedicated professional advice, many people take shortcuts and fail to understand the policies they are purchasing, not knowing whether they are getting value for money. Often they are disappointed when a claim doesn’t get paid, and it’s usually because they didn’t buy what they needed. They acted as their own expert but they weren’t equipped with the knowledge to match a policy to their risks. Insurance should not be treated like a commodity, such as purchasing a fridge or dryer – you should never buy insurance on price. Despite what some “direct insurers” marketing campaigns suggest, insurance requires professional expertise to arrange.

Using the advice of an experienced and skilled insurance broker can help people avoid making costly mistakes and help them understand that there’s more to insurance than price alone.

Insurance Brokers will help arrange and place the cover and can often provide advice on how to make the most of your insurance budget. In many cases, losses can be traumatic, and brokers are able to draw on their professional relationships with insurers in order to expedite claim settlements.

Going direct to an insurance company may sometimes appear cheaper, but without the specialist interpretation and tailoring to your specific needs, going direct may well turn out to be an extremely expensive exercise. Using an insurance broker can even cost you less because brokers have knowledge of the insurance market and the ability to negotiate competitive premiums on your behalf. A broker will also explain your policy and any special situations you need to watch out for.

In short, you will have the right cover at the right price!