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The Benefits of Using One Broker

Get the most from your insurance policies.

Insurance is a broad industry that touches many areas of everyday life. The sheer number of types can be overwhelming: property, health, business, liability, and many more. With so many policies for so many different things, it’s a tall order to keep everything up-to-date and effective.

If we can share one piece of advice with our clients and potential clients regarding staying organised and on top of their insurance requirements, it would be this: use a single broker for everything! There are many benefits that come part and parcel with having one person or company take care of all the details.

We’ve outlined a few of those benefits below.

Why stick with one broker?

Dealing with just one person for all of your insurance needs has one simple and obvious benefit: that’s far fewer contact details to remember when something goes wrong! However, that’s not the only advantage of using a single insurance broker. Consider these:

It can be more affordable for you, with the possibility of lower premiums and excesses. A broker working across the different fields of insurance may be able to negotiate a bulk deal for multiple covers due to reduced administration costs.

When insurance policies are spread across multiple brokers, there may be gaps in cover which are missed. An experienced broker with responsibility for all of your policies will be able to spot missing pieces and make suggestions to reduce risk. Someone looking after just one of your insurance types will not be thinking beyond their narrow field.

In addition to making sure that everything is covered, a broker with a good overview of your needs as a whole can make sure that you buy policies that work efficiently together and complement each other.

Entrusting one broker with your needs affords them the opportunity to learn holistically about your risk profile and find the right programme or programmes.

Using multiple brokers can be confusing for all involved, especially you! A major benefit of a single broker is the ease of transaction. There’s only one person to contact for anything insurance-related. In a situation where you are claiming on different policies, you will have a sole point of contact—and that person will have a good overview of all the moving parts.

For SMEs, a broker can serve as their own “insurance department”—a place to go with any questions, queries, or issues.

Some insurance customers like to use different brokers for the same types of insurance in an attempt to get the best deal. This can muddy the waters. An insurance provider presented your risk profile by two different brokers is likely to just offer the same terms to both, but based on the “worst” submission, or the one which is least well-prepared.

For this reason, of course, it is crucial to choose the right broker.

Pick your broker

Having one person manage your insurance spend can save money, save time, and minimise your risk. Of course, to get these results, you need a broker who knows what they are doing.

Your insurance broker should be someone you can trust, a person who you are happy to have representing you in the insurance market. As your advocate not only when buying insurance but claiming on it, you must be able to rely on them to get you the best value and best result possible.

You’re looking for someone with experience across many fields of insurance, who you “click” with and trust. Don’t be afraid to ask around your networks or do some research to find someone that suits.

Dawson Insurance Brokers can offer holistic services to clients all over the country. We have experience and expertise in insurance broking and risk management across business, rural, liability, construction, trades, personal, and marine insurance. Of course, many insured parties require a combination of these for full and comprehensive coverage.