A Car Insurance Broker responsibility is to seek his customer’s requirements, evaluate them, and match them to the most reasonable and suitable insurance cover. A Car Insurance Broker can be an independent individual or tied to an individual insurance company or car insurance provider. However, majority of brokers will be an independent broker, as they will simply be acting on behalf of the customers and only in their best interests. Some brokers are multi-tied, as they can introduce products to you from range of insurance providers.
Car Insurance Broker & Insurance Company
The difference between a car insurance broker and an insurance company is that the car insurance broker will have as many best car insurance products to offer for each of their customers, whilst an insurance company has only their own range of products to offer. Through a car insurance broker, you can choose cheapest and best insurance products.
Some people have wrong perception in mind that car insurance brokers sell car insurance to you themselves, instead they identify the car insurance that matches the needs of customer, is reasonably priced and then they buy the insurance on the customer’s behalf.
Good Car Insurance Broker
A car insurance broker has to be regulated by statute and registered, by way of which they are entitled to use the designation of “Broker”, else they are a “consultant” if not registered and regulated by statute.
A good independent car insurance broker will know all about the different products on the market and find the right one for you at the right price.