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The Benefits of Using a Single Insurance Broker

Insurance is a broad industry that touches many areas of everyday life. The sheer number of different insurance solutions can be overwhelming: property, motor, health, business, cyber, marine, liability, and many more. With so many different covers all with their own terms and conditions, it can become a full-time job making sure you have the right solutions for you.

the benefits of a single broker

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 your insurance needs not only has the obvious advantage: far fewer contact details to remember when something goes wrong! But also includes the following benefits:

  • Can result in lower premiums; a broker managing your multiple insurance needs and solutions could potentially negotiate a bulk deal with a single insurer.

  • When insurance policies are spread across multiple brokers, gaps in cover can be easily missed. An experienced broker with responsibility for all your insurance programme will detect any gaps in protection. Someone looking after just one policy or portion of your insurance protection may not think beyond their scope. In addition to making sure that you have the right cover, a broker with a good overview of your needs as a whole can make sure that you buy insurance protection that works as a whole, with individual policies working efficiently and complementing each other.

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

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. Sometimes a single loss event can involve multiple policies – having a single broker will allow them to manage all claims in tandem.

  • For many clients, 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 various brokers will just offer the same terms to both, but based on the “worst” submission, or the one which is least well-prepared.

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. As New Zealand’s largest independent insurance broker, BWRS offer holistic services to clients all over the country. Our brokers have experience and expertise in insurance and risk management across business, rural, liability, construction, trades, life and medical, personal, and marine insurance. Of course, many insured parties require a combination of these for full and comprehensive coverage.

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, your BWRS broker will not only advise you when buying insurance but will be there when you need to claim or make any changes to your cover.

If you’re looking for a broker you can trust to manage your insurance from start to finish, find a BWRS branch near you and get in touch.


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