There is a lot of choices available when it comes to buying insurance. Just Google insurance and you will see that quite clearly. A common question we hear from a prospective new client is “is it more expensive to buy from a broker?” Perception might be that it is, but you might be surprised by the answer.

Keep reading and we will explain ….

Buying directly from an insurance company

Try this… google ‘Insurance Policies in Australia”… the first two pages are full of paid Ad’s for life insurers….and even Banks trying to push insurance at you .. oh and then health insurance too…. this means you have to do a lot of research and collect a lot of information to even try and get some quotes.  Then you have to read the multiple pages of policy wording for each policy to understand the differences in cover.. really…. who has time for that !

What do insurance brokers do?

Brokers are qualified professionals, that live, breathe and eat policy wordings but most importantly act in your best interest and not the insurers.  They assess your situation and then develop a package to suit your needs.  Often this means the package developed will include a number of different insurers.

Due to the sheer volume of business handled by insurance brokers, their clients generally receive better policies and prices, then if you attempted to obtain those policies directly from an insurer.

Also, if the worst happens and you need to lodge a claim, Rivers have a dedicated claims team that goes into bat for you and helps you through every step of the insurance maze and jargon involved in the “fine print”, to ensure you get the full amount which you are entitled to.

How are brokers paid?

Brokers generally receive a commission from the insurer, this is because the broker is doing all the processing to set up your policy in the insurer’s system, providing you with all the legislative documentation.  In addition, a fee is usually charged at the beginning of the policy, to cover the advice given and support provided to you, including at claims time.


Would you like more information? Speak to one of our Rivers personal insurance brokers.

Cairns            4051 8522
Brisbane       3028 9494
Innisfail         4061 1766

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