Benefits of a Broker

It's that time of year again, the renewal letter comes through the letterbox and you need to fork out a few hundred euro for your insurance. Now more so than ever we are all looking to save a few quid, whether it is on our insurance, electricity bills or grocery shopping.

At Chill we always advise our customers to shop around as there are big savings to be had. In today's environment we have all experienced cost savings by cutting out the middle man, most notably in the travel insurance industry where low cost airlines no longer have to pay commissions to travel agents, and in turn they pass these cost savings onto the consumer.

So naturally enough, people often ask us the same thing and view the middle man as an unnecessary third party, advertising by large insurance companies has compounded this opinion. So why not cut out the middle man (insurance broker) and go directly to the insurance company? Here are a few reasons which will help explain why.

Cutting out the middle man will save me money, right?

Contrary to popular consumer belief, going through an insurance broker is generally better than going direct. This is principally because insurance companies can provide different prices and lower rates to brokers. At Chill we use our buying power to negotiate preferential rates with leading insurance companies on behalf of our customers. Those preferential rates may not be available elsewhere.

A lot more choice!

• With most insurance brokers, they will compare a number of leading insurers. At Chill we compare 14 leading insurance providers including many of the largest insurance providers around. One thing to look out for here is be wary of who is and who is not an insurance broker. Many of our competitors are known as tied agents which means that they only deal exclusively with one insurance company, so you may not be getting the best deal!
• There are some insurance providers who do not deal directly with the public, the only way you can get a quote from them is through one of their appointed insurance brokers. So the choice you get from an insurance broker is much wider and gives the best chance of getting a really competitive quote.
• If you've had a conviction or an accident, some insurance companies won't give a quote. This isn't a problem for insurance brokers who can generally find a company to offer a quotation.

I don't have time to call around!

It is the old adage of being cash rich and time poor. Going through a quote can be quite time consuming. We simply don't have the time or patience to call multiple insurance companies and wait in a queue for an eternity, while listening to very annoying hold music and waiting for a sales agent to become available. Getting a quote from Chill is quick and easy; it takes seconds to get a quick quote online.

Security and peace of mind that everything is covered

Insurance brokers are generally very good at educating consumers about the various options available to them and explaining the policy benefits. At Chill, we search 14 insurance providers and advise on the policy that is not only competitively priced, but tailored to your individual needs. We are members of The Irish Brokers Association (IBA). So who exactly are these guys? The IBA is the representative body for all insurance brokers in the Republic of Ireland. All member firms are regulated by the Central Bank of Ireland and abide by strict regulations such as the Consumer Protection Code.