Why should you use a broker to arrange your lifestyle insurance cover?

Fiona Todd is a Protection Specialist with Oviso. We asked her why using a broker is the best way to arrange lifestyle insurance cover, such as life insurance or critical illness cover.

Unfortunately we only tend to see the real value of insurance when the worst happens and we need to claim against a policy. When the right cover is in place it can help to get life back on track and make a real difference; get it wrong and you can be left with no help and a devastating change in your circumstances.  It might sound dramatic, but we see it all too often in the media.

Choice is great and there are a lot of good insurance policies and packages to choose from. It can be difficult to see which provider is best for you but that’s just half the task, you also need to ensure that the multiple policies you have minimise duplication of cover to make it as cost-effective as possible.

Getting the right cover

Talking to a specialist broker will ensure that you have the right cover in place for your specific circumstances; they should ask you about you, your family, your business and what’s important to you. That way they gain a full picture of what and how you want to insure the risks you face.

By understanding the whole picture and having access to all the insurers (if they are a ‘whole market’ broker like Oviso), they can bring together complementary policies to ensure everything’s covered without over insuring or duplicating coverage.

Understanding the small print

Specialist brokers live and breathe protection and all the policy detail that comes with it. It’s their job to ensure that they understand the policy detail and cut through the vast amount of detail to give you an overview of policy differences and then advise on which blend of policies, level of cover and providers are best for you.

Saving you time

Searching the market, understanding the cover and policy restrictions, filling in all the forms and liaising with the insurance companies can take a lot of time.  A specialist broker will take care of the majority of the work for you. We pride ourselves in being able to talk to clients in plain English and translate their needs into cover that they need, and perhaps some covers they haven’t even considered.  In addition to this, we take care of the paperwork and chasing involved in getting the cover set up as quickly as possible.

We’ve pulled together a quick guide on the main Lifestyle Protection Insurances for inniAccounts clients, which you can read here in the inniAccounts Knowledge Hub. You can read more about us on the Oviso website www.oviso.co.uk, where you can meet our team, see more detail on the protection we can arrange and what makes us different from your average high street broker.

This article was written by Fiona Todd, a protection specialist at Oviso, an independent insurance broker who specialise in providing lifestyle protection insurance for small businesses, freelancers and contractors. Find out why we recommend Oviso here.