Why do I need an insurance broker?

Understanding what insurance you need can be overwhelming and complex. And it can be devastating if you get it wrong. So, it pays to have an insurance expert on your side.

An insurance broker can save you time, money and worry. Just like an accountant or lawyer who provides you with professional advice, based on years of training and experience, a qualified broker can do the same with your insurance.

When arranging insurance, many people take shortcuts, don’t understand the fine print or consider whether they are getting value for money. Often they are disappointed when their insurance doesn’t come to the rescue.

Whether it’s business or personal insurance, brokers provide advice and assistance to make sure you are properly protected.

Using an insurance broker doesn’t necessarily cost more. Often it costs less because brokers have in-depth knowledge of the insurance market and the ability to negotiate on your behalf.

A broker will also explain your policy and any special situations you need to watch out for.

You will benefit most by developing a close business relationship where the broker understands your future plans, the associated risks and how you like to do business.

An insurance broker’s foremost duty is to his or her client. An insurance broker works for you, not for the insurance companies.

Read more about our Insurance Brokers here

What does an Insurance Broker Do?

A broker is an intermediary between you and insurers.

They use their superior market knowledge, scale, and, in some cases, access to exclusive products and services, to get you the best insurance policies to meet your needs. A good broker will build strong and trusting relationships with their clients based on a good understanding of their business and risks.

A good broker also helps you to make claims.

A good broker lets you get on with business with peace of mind that you and your business are protected…

How do insurance brokers handle claims?

A good insurance broker should help you to settle your claim.

At Nadic,we will take you through every step to get your claim resolved as quickly as possible.

Because we are experienced at lodging claims we know how to navigate an insurer’s claims system. This is another advantage of using a broker over going direct with an insurer.

How can I place an insurance claim?

If you need to make a claim simply call us on 4950 3500 or email nadic@nadic.com.au and we will take you through every step to get your claim resolved as quickly as possible.

What is the difference between and insurance broker and insurance agent?

The primary difference between an insurance broker and an insurance agent that a broker represents the insurance buyer and an agent represents one or more insurance companies. An agent acts as an extension of the insurer. A broker acts for you and your business.

Do we need income protection insurance?

Income protection replaces your income when you are unable to work for an extended period of time due to sickness or injury.

It gives you peace of mind is easy knowing you and your family are covered.

Each year hundreds of thousands of Australian working-age families suffer serious injury and tens of thousands of them have to stop working as a result…

Our policy provides up to 75% of your monthly pre-claim salary should you become unable to work due to illness or injury. This money is typically used to help with mortgage repayments, household bills, credit card payments, school fees and daily living expenses. The replacement income waiting and payment periods are defined in a contract and vary depending on the cover you choose.

What does a travel insurance cover?

Don’t let a lack of insurance spoil your well-earned holiday. While we don’t wish it upon you, the reality is lots of things can go wrong before you set off on your business or holiday travel and while you are on the trip. Family issues, sickness, loss of luggage, changes to itineraries from travel and tour companies, and other natural and other unforeseen events. Sometimes you can lose your possessions on holiday or they can be stolen or lost by your travel provider.

Medical treatment in other countries can be expensive.

Just like health insurance, car insurance or business insurance, you need travel insurance to give you peace of mind and protection.

What is a life insurance broker?

A life insurance broker is an intermediary between you and an issuer of life insurance policies (an insurer).

They use their superior market knowledge, scale, and, in some cases, access to exclusive products and services, to get you the best life insurance policy to meet your needs. A good broker will build strong and trusting relationships with their clients based on a good understanding of their business and risks.

A good life insurance broker also helps your loved ones or beneficiary to make claims.

A good life insurance broker lets you get on with business with peace of mind that your family are protected.

Using a Life Insurance Broker vs Buying Direct.

Many people incorrectly think of brokers as middle people who add to insurance the costs of insurance. The main distinction between using a broker versus buying direct is that a broker works for you, not the insurance company.

Buying direct sounds simple but it actually means you are doing most or more of the work.

Contrary to popular belief, broker pricing is often better than direct insurance pricing, particularly over the long term. This is because brokers shop around the insurers to get you the best price and value to meet your specific needs. And, the broker is compensated by the insurer, not by the client.

It is also quicker and easier to make changes to policies through a broker than direct. That’s because your broker is a trained expert who knows how insurance policies should be administered. And the changes you want make may mean that you need to change insurers.

When making changes with a direct insurer, you will generally be called a large call centre whose staff has little or no real insurance knowledge and cannot offer advice specific to your situation.

A recent survey by Vero found that SMEs (small to medium-sized businesses) in Australia have a better experience when they purchase their insurance through a brokerage firm than direct from an insurer. In fact, SMEs that use brokers or insurance advisers are twice as likely to have their claims paid in full compared to those who directly approach an insurer.

 

What is the benefit of Business Insurance?

Your business takes years to build but an accident or disaster can destroy your hard work in minutes. Business insurance helps you to protect your premises, stock, equipment and your reputation. It is an affordable way to give you peace of mind and protect you against the main risks associated with running your business. You can get on with doing business.

Businesses often buy multiple coverages and combine several in one policy.

Our Services
Life insurance Income Protection Travel Insurance Business Insurance
Let our experts handle your business insurance so you can focus on doing business
It’s worth talking to a qualified, experienced professional about getting the best policy for your needs. Contact Us Today!