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Thread: Broker or Agent?

  1. #1
    PolicyWala Newbie
    Join Date
    Apr 2009
    Location
    Banglore
    Posts
    19

    Exclamation Broker or Agent?

    Hi, I am sole proprietor of a small unit in Banglore. Till now I am insuring all my insurance through one insurance agent. Recently I am contacted by a broker to provide me all the insurance services for my unit. They are telling me that they would provide me the cheap and best insurance from the market. I am in a dilemma, pls guide me - Is the correct that broker would provide the cheap and best insurance to me?

    Thanks,

    Hemant



  2. #2
    Moderator Rahul's Avatar
    Join Date
    Feb 2009
    Location
    Delhi
    Posts
    386

    Default

    Agent - Can only cover one insurance company. Little or no knowledge about other companies insurance products.
    Broker - Is representing all the insurance company. The broker to do the ringing/searching for a cheaper quote. And has 'expert' assistance if something goes wrong like claim.
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  3. #3
    PW Stalwart Master's Avatar
    Join Date
    Feb 2009
    Location
    Mumbai
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    438

    Default

    Quote Originally Posted by Hemant View Post
    Hi, I am sole proprietor of a small unit in Banglore. Till now I am insuring all my insurance through one insurance agent. Recently I am contacted by a broker to provide me all the insurance services for my unit. They are telling me that they would provide me the cheap and best insurance from the market. I am in a dilemma, pls guide me - Is the correct that broker would provide the cheap and best insurance to me?

    Thanks,
    Hemant
    Broker is good for the clients, who are having very good premium. If your premium amount is less please avoid broker.

  4. #4
    PolicyWala Member
    Join Date
    Jul 2009
    Location
    Pune
    Posts
    25

    Default

    Best way check quotes from your existing agent and the new broker, go for the company which is giving you best policy and rates. Or you yourself can check rates using online comparison websites like policybazaar.com and apnapaisa.com.


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