Why use an insurance broker?

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Insurance can feel like a big burden, making sure you have the right policy to cover the things you care about most, as well as getting cover at the right price. Using a broker can take away a lot of stress when it comes to this, but why should you put your trust in a broker?

What is a broker?

In basic terms, an insurance broker is a professional firm that is there to help you find the cover that best suits your business.  They’ll take your information and requirements, check the market for different policies to suit you, and enable you to make a choice on what policy suits you first. Insurance brokers are regulated by the Financial Conduct Authority (FCA) who act as a regulatory body to protect the customers in the financial market.

Using an FCA regulated broker allows you to feel comfortable knowing that it is following regulatory rules when it comes to providing your insurance. You need to exercise caution when choosing a broker as to avoid Ghost Brokers which you can find out more about in one of our other blog posts.

What can a broker do for you?

In most instances a  broker acts as an agent of the client, so after you tell them your requirements for the insurance you would like to take out, they go to the insurance market and usually get multiple quotes for the cover you are looking for. It’s like going to a car dealer and asking for a black family car, they show you all the options and what they include, then you get to make an informed choice.

  • Access to a wide choice of insurance products in the industry to help support your choice of options
  • Provide honest, no-jargon information about your policy
  • They have a regulatory duty  to treat all customers fairly even in the event of making a complaint
  • Regulated by the FCA

With product suitability at the core of what a broker can offer in terms of quotations,  you get to have peace of mind knowing that you won’t be missing out on any information that could be helpful to making a fundamental choice when it comes to protecting your business.

Can I save money?

When working with a broker, you get a wide range of options when it comes to your policies. At constructaquote.com, we search the market for competitively priced policies that best suit your needs, then let you make the decision on which policy feels right. Doing this allows you to pick by price, and by policy cover.

The cheapest policy isn’t always the best option for your business, we are a non-advisory broker which means that we do not recommend a policy but work hard to get you a quotation that is competively priced and best suits the business needs that you have disclosed. 

How do brokers help with claims?

If you find yourself needing to make a claim, you can speak to our claims departments to help make your claim process simple. .

Are brokers easier and faster than insurance firms?

Imagine going to each individual insurer and filling out a lot of quote forms, that itself can take a whole day. As we have access to a  number of insurance providers, all you have to do is fill out one form and we could have you covered the same day.

The benefit of using a brokerage is that, in most instances we compare quotes from multiple insurers and deliver you this information through an easy to navigate user-friendly website.

We endeavour to explain  your quotation, the policy, and documention in a language you can understand. We provide you with peace of mind and you can feel confident knowing you’ve protected your business with the right option to suit you.

Why choose constructaquote?

We bring together the insurance products relevant to you and your business so that you can arrange all the commercial policies you require in one place.

In order to provide you with low-cost insurance cover, we don’t charge you for quotes, we simply compare the quotes on offer from our partners, saving you both time and money. The quotes you see on constructaquote.com will often be more competitive than going direct, and it’s easier for you to select the most suitable policy when they’re all on the same screen.

You can rely on constructaquote.com to provide for all of your insurance needs, enabling you to get on with what you do best – managing your business.

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RJ Davies is a Marketing Executive and Videographer. He writes for the marketing team at constructaquote.com, creating blog posts, web copy and produces all video content for the company.