An insurance broker is someone who is paid to know your needs, and do research for you, into the best suitable insurance company for you. The Insurance broker keeps on top of your needs, and provides you with service, such as claiming and updating your insurance policy, all for a set fee that was pre determined.
The problem with insurance agents and brokers come in when you are either financially strained and cannot afford insurance brokers, or your claim is not handled properly, because the insurance agent is not aware of your exact needs and specifics. The broker can also not be clued up in the industry, which provides another problem. Communication errors can step in, as well as total unawareness of what is happening in the industry and with the items you have insured.
That is why many insurance companies these days have decided to deal directly with the public, without the use of a middle man, such as an insurance agent or insurance broker. The client deals directly with the insurance company, so there is no chance of miscommunication, extra fees or any of the likes.
Insurance Agents and Insurance Brokers do have benefits as well though. Some of the benefits of using the agent or broker is that often times, insurance policies are very complex and hard to understand. The Insurance Broker or Agent understands these policies and can help you. Sometimes people don't have time to use a broker or agent. With important decisions such as life cover for example, it is important to get someone who knows about these things to advise and assist you. They can make the right choice for you.
In the end, it is up to you whether you want to use an insurance broker / insurance agent or not. Just make sure that whatever you do, or whomever you use knows what is happening, knows about the policies, and knows that you will get good service from this insurance company you are insured with. After all, making the wrong decision could leave you stranded for life!
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