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Questions to ask your broker

When you choose an insurance broker, remember that they will supply a personal service and protect your best interests. Make sure that you are comfortable with having this person acting on your behalf.

Q. Do you have professional indemnity cover?

This will ensure that you are protected if your insurance broker has been negligent in dealing with the insurer on your behalf.

Q. Are you licensed to sell this product?

Ask to see proof of your insurance broker's credentials and ask about their experience and client base.

Q. What kind of communication do you offer your clients?

An insurance broker should keep in touch with their clients, perhaps via a newsletter or an annual update visit. They should also be proactive in recommending changes or additions to your cover, depending on market conditions, or important events in your life, such as the birth of a child or a child reaching the age of 18.

Q. What claims service do you offer?

Your insurance broker should handle all your claims queries on your behalf and ensure that the process runs smoothly. Your insurance broker should be able to deal with difficult claims or disputes about coverage.

Q. Are you available after hours?

This is particularly important when there is an emergency to be dealt with such as advice about an insurance claim when you are involved in a car accident.

Q. May I contact some of your existing clients for a reference?

Word of mouth is the best way of establishing your insurance broker's reputation for service.

Q. How are you compensated for this service?

An insurance broker should be compensated by the insurance company that underwrites your policy. You should not be charged a fee for this service.