October 29, 2019

There are many reasons why going direct may be appealing. You can fill in an online questionnaire and get instant cover. The cost may be low, but we think it is best to avoid going direct to a company. Below we outline some of the risks of not using a agent or broker when buying home insurance. 

Mistakes can be made if you fill in a simple questionnaire or have a brief telephone call with a online insurer. The service may seem efficient and cost may be cheap, but in the event of a claim it could turn out to be costly. 

Small Print not explained when dealing with direct online insurers

If you do have an insurance claim with a policy taken out with an online provider it will be likely that you may be underinsured or have some small print in the policy you were not aware of. A broker or agent will make sure this does not happen, as they will explain all details of the policy. 

Claims service when dealing directly with online insurance companies

The claims service may be easy to deal with when going direct to the insurer if it is a straight forward car insurance claim. 

However, home insurance claims are slightly more complicated as 3rd parties are involved, assessors are involved as well as repairmen and finally, the companies loss adjusters and claims handlers finalise a claim.

As you can see from all the parties involved, liaising with all these people and departments can take time. Added to this, occasionally the insured will not be in agreement with a claim decision. In this scenario, it is very helpful to have a qualified broker on your side that will be able to work independently on your behalf for an increased offer. 

Consorcio claims and how you will have to deal with them without the online insurers help

The Consorcio is a government-run fund for natural disasters. The term natural disasters sounds extreme, however, the disaster does not have to be extreme. It can be a flood which affects a large area or fire. 

In case of a consorcio claim, the online insurer will likely be helpful but will not be able to deal with the assessor directly. They will encourage you to deal directly with the consorcio’s assessor for the claim. Language may be a barrier when dealing the assessor on your own. By using a qualified insurance professional you will not have to worry as they will liaise with the consorcio claims assessor on your behalf. 

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About the Author expathomespain.com

David Bloomfield Started his career in the Spanish insurance sector in 2008 after working in London for Zurich Professional and QBE. He gained a degree BA (Hons), is a qualified broker (Corredor de Seguros) and in 2019 finalised a masters degree in Online Digital Marketing.

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