Home Insurance Brokers
In these days of the Internet when it is so
easy to buy home insurance online there are many people who have
speculated that the days of the insurance broker are over. Nothing
could be further from the truth. For a start off, many of the
companies that are considered to be insurers in their own right are
in fact brokers only; the AA, RAC, Kwik-Fit are all brokers not
insurance companies, to name but a few. These companies invariably
have a panel of insurance companies that they can call on for
quotations and they are in fact legally obliged to find the best
deal they can for their clients, and many brokers deal with smaller
insurers that do not have their own marketing facilities (which can
prove very expensive, TV advertising for instance is not cheap and
guess who pays the bill in the long run) so instead of going to a
single insurance company and asking for a price you can instead ask
a broker to do this for you, and he or she can give you a choice of
policies, specifying, if you wish, one recommended one. To be able
to do this a broker is legally obliged to be regulated by the
Financial Services Authority, who will want to be satisfied that the
company is sufficiently qualified to be able to offer good impartial
advice and that it is run in an ethical manner.
Many people confuse brokers with their modern day
equivalent, the price comparison website. Comparison sites however
do not have to be regulated by the FSA at present although this
situation may well change because of considerable disquiet about the
independence and competence of the companies that run these sites.
It is possible to go to six different insurance comparison websites,
and get six different quotations despite entering exactly the same
details! In addition, several comparison sites are actually owned by
insurance companies whose products are featured amongst those of
other companies; naturally we would expect that there would be no
favouritism shown but it could be argued that they are not giving
exactly independent advice, which is what a qualified insurance
broker is not only capable of doing, but is also legally obliged to
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Home Insurance Brokers - probably the largest choice of
Home Insurance Brokers in the UK!
Quotezone have a home insurance price comparison engine which,
unlike most other comparison sites, is completely independent.