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What is an insurance broker?

If you’re not sure what an insurance broker is or what one does, you’ve come to the right place. In this article, we answer your commonly asked questions about the industry and how it works.

What is an insurance broker?

An insurance broker is a business dedicated to finding appropriate insurance for your needs at the best price.

They may handle business or personal insurance, or both. Some brokers also focus on specialist insurance for particular sectors. At One Broker, we cover all three.

What is an independent insurance broker?

It’s important to note that not all brokers are independent. They may be owned by another company or have special relationships with particular insurers. As a result, they may not search the whole market to find the best policy for you.

An independent insurance broker, like One Broker, isn’t tied to a particular insurance company. They have access to policies from a wide range of insurers.

What does an insurance broker do?

A broker’s primary responsibility is sourcing the right policy at the right price. At One Broker, we do this by building strong relationships with our clients.

After assessing your needs, we use our knowledge and expertise to find the best policy for you – negotiating with insurers where necessary – saving you time and money. We take the time to interpret insurers’ complicated policy wordings too, making them easier to understand.

We also support the claims process. Our in-house Claims team acts on your behalf, helping you achieve a fair settlement. In fact, we have delegated authority with some insurers. That means we can settle many cases without waiting for an insurer’s decision, so your claim is resolved faster.

What is the difference between an insurance broker and an insurance company?

An independent insurance broker isn’t tied to an insurer. They can search the whole market for the most appropriate insurance protection. An insurance company can only supply its own products.

Why use an insurance broker?

Because they work for you. They are familiar with the insurance industry and ensure you get the most suitable insurance protection for your needs.

What are the benefits of using an insurance broker?

Unlike a price comparison site, you get personalised insurance advice from a real person. We’ll get to know you and your needs, ensuring that you're not over- or underinsured. We also have strong relationships with major insurers, which means we can negotiate better prices on your behalf.

How to choose an insurance broker

A simple Google search for the term ‘insurance broker’ will bring up a long list of options. Be sure to check that they are registered with the Financial Conduct Authority (FCA), so you know they’re legitimate. Also it means you can be confident you are working with a firm who will treat customers fairly, provide advice on insurance products suitable for you and communicate with you in a clear and transparent way.

Wherever possible, check their reviews and testimonials, especially in the area of insurance you need.

Why choose One Broker?

We’re an established insurance broker able to arrange both personal and commercial insurance. Like many national brokers, we also offer specialist schemes for niche markets. We currently work with: tenant management organisations, housing cooperatives, classic vehicle ownersprivate ambulance companies and motorcycle dealerships to name a few.

Find out more about the specialist sectors we work with.

As we’ve grown, we’ve stayed true to our values, putting the customer at the heart of the business. That’s why we have a strong commitment to training and development, encouraging everyone to achieve and maintain professional qualifications.

By staying up to date with the latest industry developments and best practices, we ensure that you receive the best possible service.

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