What's the advantage of having an intermediary company (broker) handle my car insurance?

Question

i quoted through the intermediary company (broker) and the total payment was $331. Then i quoted directly with the insurance company and the total payment is $209......????

Answer 1

Something seems strange there. It seems likely that either you or the broker has made a mistake, or both of you have made a mistake.  Have you told the broker this?

A good broker will explain what the coverages are, and will make recommendations about what coverage (and amount of coverage) you should have.

You will also have service from the same person every time.

And, possibly most important, if you have a claim or problem the broker can act as your advocate and help you through it.

just my two cents

Answer 2

First thing you need to do is to compare the quotes side by side. My experience is that the difference between a broker and going direct is maybe 10 to 15%. Your numbers indicate a 30% difference so I would suspect the quotes are not "apples to apples"

Second thing to consider is do you want to talk to a different person everytime you call the company or would you prefer to talk to somebody you know and have talked to many times and who knows you and your particular situation.

Third thing to consider is are you comfortable with your insurance technical knowledge? Do you have adequate limits of liability? Are your medical limits adequate? Are they coordinated with your health insurance? Have you chosen the most cost effective deductibles? Or perhaps you might want some professional advice? It's up to you.

Answer 3

Doesn't sound like there is an advantage except for he broker if these quotes were for identical coverage.

Seems like a no brainer to cut out the broker.

Good luck.

Answer 4

If you are insured through your brokers they'll sort of support you a little in case you have an accident.

They'll also answer any questions you might have and will generally be there for you.

Going direct you just get your cover. I have always gone direct and always dealt with my own claims the few times someone damaged my cars/bikes but if you don't know how things work you might be better off having a broker for peace of mind, then you just phone them and let them deal with anything you need, EG: chase the other insurance to get your money to fix your car!