GOING THAT EXTRA MILE

you will get only one quote for your trouble. The difference if you use an independent broker, he says, is that for one question-answering session, you will get multiple quotes, and the broker will be able to advise you on your options. And it is not as if brokers are lagging behind when it comes to technology. “They are equipped for multi-quoting using similar digital access and telephony systems,” Glasby says.

A broker can also offer the very personal option of chatting face-to-face, and he or she brings many years of experience to the table. You are likely to be asked more probing questions, ensuring that you are correctly risk-rated and that the policy you choose is appropriate to your needs. This is in contrast to dealing with call-centre agents, who are required simply to tick boxes, and with whom you can never build any sort of ongoing relationship.

A big drawback of going the direct route, Glasby says, is that you don’t get an objective opinion of your risk. The product provider is the same party that advises you on what to buy. You may not be aware of other products that may have better solutions for your specific needs.

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PAY LESS FOR MORE - SPECIALISTS

Despite what direct insurers may say in their advertising, it is not necessarily cheaper to cut out the middle man

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Brokers may be specialised in the area of short-term insurance or they may be financial advisers who offer short-term insurance as part of a broader range of services and products they are licensed to provide.

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AFTER SALES SERVICE

It is in what happens after you have been sold your policy, particularly when it comes to lodging a claim, that demonstrates the real value of a broker.

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ROUTES OF RECOURSE

If you have a service- or claim-related complaint, your first port of call is your broker.

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