With the internet making everything seem so easy, many people now choose online options when it comes to insurance cover for their business. And why not, when it’s quick and often seems a cost-effective route?

Checking out insurance offers online often involves filling in forms and comparison tables, which appears to analyse your needs and surely is the same as the advice from a broker anyway. Right?

Dig beneath the surface and things get a little more complex, which is where a broker can help:

• Accuracy. Take a closer look and this ‘do it yourself’ insurance generally doesn’t provide accurate advice as to what exposures you face, so it’s tricky to know if it’s providing the cover you need.
• Peace of mind. With so many different policy choices and providers in the market, relying on a trusted insurance broker can take the pressure off - knowing your needs are being looked after by a specialist, who can work alongside you to advise, select and negotiate the best policy for you and your business.
• Time saving. A broker eliminates the task of wading through different policies from different providers and trying to figure out if it’s covering you for what it should, which risks leaving you over or underinsured.
• Expertise at claim time. If you need to make a claim, a broker can take away the pain. It can be stressful time, and not having to go backwards and forwards with your insurer and worry about your claim can take a load off. Your insurance broker will manage the claim with the insurer and have your back.
• Trust. It’s never been a better time to engage a broker, with recent stats* showing just 2% of all general insurance disputes involved a broker.

While DIY options have increased, insurance brokers are more important than ever in providing the right advice on the policies best suited to your business and risk exposures. Talk to a broker about your policy requirements – you’ll find it’s worth it.

*Australia’s Financial Complaints Authority

Written by Insurance Advisernet New Zealand

General Advice Warning

The information provided is to be regarded as general advice. Whilst we may have collected risk information, your personal objectives, needs or financial situations were not taken into account when preparing this information. We recommend that you consider the suitability of this general advice, in respect of your objectives, financial situation and needs before acting on it. You should obtain and consider the relevant product disclosure statement before making any decision to purchase this financial product.