Online comparison websites have revolutionised the insurance industry. A few internet searches will bring up a range of policies at the touch of a button – and you don’t need to speak to anyone at all. Indeed, in 2024 around half of all domestic insurance policies were purchased online, and the figure for commercial customers is even higher (around six out of every 10).
But is it really the best way to ensure you get the cover you need, and at the right price? Here, Maunder Taylor, who are property insurance agents in North London, highlight the advantages of using an intermediary or broker.
They Provide the Expertise
First and foremost, they will know what type of insurance you need, particularly if it’s for a commercial property. Here you may be talking about far more than just buildings insurance and contents insurance – there are a host of other categories of insurance which may be applicable to your personal circumstances.
For instance, did you know anything about Employers’ Liability, Directors’ and Officers’ Liability, and Common Parts Contents? One or more of these may be policies which you should consider. And they will also know how to translate some of the more technical or legal terms into plain English.
A good intermediary will not only work out what insurance you need, they will be familiar with the local market, and will know what the going rates are in any particular area.
They Save You Time
It’s not just a case of looking at comparison websites and picking out the cheapest quote. For one thing, the specialist type of insurance you are after – even if you know what you are looking for – may not be available on commonly available websites. Good intermediaries will know where to look, and what a good price is. All of which means you don’t have to spend your valuable time looking.
They Could Save You Money
Although it may be cheaper to do it yourself, insurance intermediaries could save you money in the long run. This is because they may be able to reduce your cover if you have over-insured yourself. They may also have access to lower rates than are available to the general public (including on comparison sites).
An insurance company is more likely to offer a lower rate to a broker as the insurer knows that the client will have been thoroughly risk-assessed. Also, an experienced broker will know the market and the best rates available.
The Associated Services
Many good intermediaries may also be able to look at other aspects of your property or business. For instance, they may be able to provide a more accurate assessment of what your property (or business) is worth.
Maunder Taylor are property valuation surveyors as well, covering Potters Bar, Hatfield, and many other parts of Hertfordshire and North London. And, in the event of a claim being made, we can help you through the process.
The Personal Service
With comparison sites, you don’t necessarily have any direct contact with your insurer at all – just a few clicks. So, how do you know that you have understood all the pitfalls (how many people read the terms and conditions and all the other small print) when you sign up to the policy? An insurance broker can talk you through the policy to make sure you understand what your cover includes. Lastly, having a dedicated person or department to get in touch with means there is always a direct line to them when questions arise in the future.
Maunder Taylor – Property Insurance Agents in North London
If you would like to know more about our insurance services, follow this link. If you have any questions, you can also click here and fill in the online form. For any general inquiries, you can also contact our head office in Whetstone on 020 8446 0011.