What is an insurance broker and what does it do?

If you can’t get cover or your premium has shot up unexpectedly, this might actually be because your circumstances are a little out of the ordinary or considered a “high risk”. This can make it difficult for you to get affordable insurance through one of the mainstream routes available. And in some cases, you could even be refused cover entirely, which could put your job on the line or affect you personally.

This is exactly the type of situation that would benefit from the personal touch of an insurance broker.

So how exactly can they help?

Brokers work on a case-by-case basis, taking your individual situation into consideration instead of giving a blanket “no” or charging you an exorbitant amount for your policy. They’re designed to protect your best interests and are dedicated to getting you cover that’s tailored to your needs at a budget that suits you.

Essentially, going through a broker is a bit like choosing your own car based on family size, lifestyle habits and specific features rather than buying based solely on price.

And – returning back to brokers – all this can be done over the phone, allowing you to ask questions about the fine print and let the broker know what’s important to you. This allows you to make a more informed decision based on your needs and ultimately means you end up with a policy that’s truly bespoke to your individual circumstances.

In many cases, you might find that you’d actually benefit from a quote from an insurance broker even if you think your situation is pretty standard. Take, for instance, a young VW Golf GTI Mk6 owner trying to take out car insurance for their vehicle.

To most, the Golf GTI is a normal vehicle that wouldn’t require the care and attention of an insurance broker. Yet speak to a mainstream insurance company and the driver is automatically seen as a higher risk because they’re young, and doubly so for choosing a sportier GTI model.

But if you were to discuss this same case with an insurance broker, they would see the situation a little differently. For example, they might realise that the young driver chose to spend extra on the car and is therefore more likely to treat it well, which in turn means the new driver is less likely to make a claim and therefore less risky than other drivers.

This difference in view allows them to work in the young driver’s favour, using the relationships they’ve built with underwriters to get the young driver a policy that’s tailored to their individual needs and budget where before they might have been refused.

Of course, an insurance broker isn’t for everyone. If your situation is straightforward, you might not need the specialist cover that an insurance broker offers. But in the cases you do, a broker can make a huge difference.

If you feel you would benefit from speaking to a broker, we’re here to help. Speak to one of our expert insurance brokers by calling 0800 369 8590 or booking a callback and we can talk to you about your unique circumstances.