Insurance Buyers Beware

As we move into the electronic age, the consumer is purchasing more of their everyday needs via the internet. This trend is not just reflected in the purchase of clothing, shoes and even our holidays but is now evident in the advertisements of insurance products on line. Health insurance, Pet insurance, Life insurance and Personal property insurance even Funeral insurance can all now be purchased on- line. Unlike clothing that may be incorrect sizing or faulty, getting a return on incorrect insurance only becomes evident at the time of a claim, which by then is usually too late.

It appears that there is a push to do more buying online of Insurance Products than ever before. I have been working in insurance industry for over 22 years and I can tell you that nowadays, it seems so easy to buy insurance online. So what is Insurance? Does the customer really know? Is the need to get a “cheaper insurance “more important than the need to buy a good quality Insurance Product with the right advice.

An Insurance Contract is a piece of paper telling you that when things go wrong, the insurer is here to help…. The reality is that with most things in life, you pay for what you get. If you go cheap on insurance, good chance you will go cheap on cover as well, either knowingly or unknowingly depending on how much research the customer actually does. Most insurers will sit behind their wording so as a direct insurance customer, it would be your job to get to know your policy, its coverage and the exclusions and you really need to know that info when purchasing, not when you make a claim.

Believe me, when the Floods hit Bundaberg, and the Insurance Council of Australia (ICA) and Financial Ombudsman Service (FOS) were present at a meeting held at the ATW Club, the stats were nicely stacked against these direct & online insurers. More than 90% of complaints brought to the attention of these 2 entities were from the direct and online insurers. Brokers held their own being professionals in the field and the fact that their aim is help and work for the client to try to ensure the clients interests are protected as best as possible.

If you want professional advice then a General Insurance Broker is who you call. No longer are we grouped with the local car or vacuum cleaner door to door salesman. We are now highly respected, Professional Insurance Consultants grouped with Financial Planners, Accountants and Solicitors with our training and compliance equally matched.

If you come into our office with an Insurance inquiry, you won’t be sold a cabbage or can of baked beans along with your Insurance product like some leading supermarkets are trying to do. Allow the right professionals to help you choose the right cover suited to your needs so when things go wrong, you have the help you deserve. If you were to suffer a huge loss, such as house fire or cyclone, I don’t think a friendly smile with packet of frozen chips will help….