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Broker versus direct: Which makes more sense?

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23 July 2014

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That feeling of elation when you know you got the best deal. But was it from a broker or direct?

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The most obvious benefit of going with an insurance broker is that they have the advantage of searching multiple insurers at once. You give them your details and they’ll work to get you covered by using whichever panel of providers that they like to use.

If you go direct, you’ll need to complete the form again every time you land on a new insurer’s site. Ringing over the phone can take even longer.

It simply doesn’t make sense to trawl through countless different sites in the hunt for a policy, so, let someone else do it for you. Many brokers will even continue to look for a policy for you if you’re having trouble or if you have some special requirements.

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There’s also a major misconception a lot of people have about insurance brokers, and that is that they cost more because they are a middleman, adding an additional step into the process.

The truth is that this simply isn’t the case – insurers are competing amongst one another on price to win your custom, and insurance brokers are more likely to be able to find the best deal.

As long as you choose a reputable company, you’ll also find that a lot of Insurance brokers actually negotiate discounts with certain insurance providers because they refer so many customers to them.

You are therefore able to take advantage of this reduced rate, which could be a considerable amount of money, given the rising cost of motor trade policies. One Sure also make the point that some insurers don’t even deal with the general public in the first place.

So the next time it comes to renewing your motor trade policy, try using a broker before you start ringing around lots of companies. You’re likely to save yourself a lot of time, and quite possibly some cash in the process.

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