Making sure that you have the correct insurance policy is extremely important and generally there are two ways to go about this. The first is to hit the search engine, punch in what you are looking for and then generate a policy based on the details you have provided.
The second is to employ the services of an Insurance Broker, who will take time to understand your requirements and match the right policy to what you need. A Professional Broker will make sure that you have the right cover in place and that you understand, more importantly, the things that are not covered.
The risk with using an online portal is that you may end up with a product that does not actually cover you for the area you need it to, or it may cover you in part but not in full. You’d be surprised at how regularly we see this when quoting on renewals for new clients!
A Professional Broker will have a very good grasp on the insurance industry in general, they will be able to ask the questions that could affect you in the event of a claim and cause your claim to be rejected or, at the worst, your policy to be voided!
This could include things such as details of financial and claims history plus more. If there are areas which could cause problems in the event of a claim, a good Professional Broker will be able to search for the right product to ensure that you are as fully covered as possible.
In addition, your Broker will be able to explain the policy that they are recommending in a way that you will understand. We know that reading and understanding the fine print of an insurance policy can be a very laborious task and one that is often either overlooked or not done at all.
Whereas an online portal will require you to read and agree to the fine print without the additional advice, working with a Professional Broker will help you understand what is covered, not covered and be able to answer any questions that you may have.
The last point is that, more often than not, your Insurance Broker will be able to assist in making an insurance claim under the policy that they sold you along with liaising on your behalf with the insurer and the loss adjuster. It is worth asking if they provide this service when you begin your policy.
So, we recommend always employing a Professional Broker, who will work with you to make sure that you are covered!