Most people need short term insurance at some point to cover their prized possessions against accidents and loss. When theft, weather and accidents strike, the last thing you want to worry about is replacing the things you’ve worked so hard for! Further to that, the average person cannot afford to buy a property or a vehicle cash, and therefore needs to finance the purchase.  With financing, you are often obligated to take out insurance to cover the loan in the event of a loss.

When shopping for insurance policies you have two choices: you can either make use of a Direct Insurer who cannot provide access to products or pricing outside of their own company or you can work through an Insurance Broker who represents a variety of Insurance companies. If you buy your insurance directly from the insurer you will have to be content with speaking to a different Call Centre agent each time you have a query, which means that you will need to explain your specific circumstances every time you contact them.  On the other hand, with most Insurance Brokers a dedicated consultant will be assigned to you.

Below you will find 5 reasons highlighting the benefits of having a short-term insurance broker:

  1. Comparing policies for the best price

Finding the best price can be easy if you simply compare quotes and choose the cheapest premium, but this is not necessarily the best solution to insure your assets. Short-term insurance policies are complex. For example, one company may offer lower premiums but charge higher claims excesses. Or there could be clauses and exclusions in the policy wording that you are unaware of and only at claim stage your realise you do not have the full cover you thought you had. Unfortunately with cheaper insurance it sometimes mean that you get (or rather not get) what you pay for.

  1. How much cover do you need?

What if your car is underinsured or over insured? Are you aware of the implications of either one of these when it comes to claim stage?  What if you had a burst pipe, resulting in water damage to your furniture and floors only to find out that you were underinsured?  The incorrect level of cover or worse yet, no cover, can result in a devastating financial setback. This is where your short-term insurance brokers advice is invaluable.

  1. Specify the extras

Never assume that your car accessories, like tow-bars, alloy wheel rims and sound system, are automatically covered. The same goes for big-ticket personal items, like jewellery and laptop computers. Insurers can only protect what they know about. It helps to keep the original receipts for items like big screen TVs, so that you can prove their value if you need to claim.

  1. Paying for cover that you don’t need

Just as having inadequate cover can be financial damning so can paying for cover you do not need. An experienced short-term insurance broker will do a needs analysis to establish the cover that you do require and ensure that you don’t pay for unnecessary cover.

  1. A specialist broker understands the industry and market

Which short-term insurance company can you trust and are known for good service?  Some companies offer the best rates in the industry but are notorious for not paying claims or delaying repairs. Your short-term insurance broker has direct access to all leading insurers and through their experiences have established relationships with the industry leaders offering the best value for money.

When it comes to protecting your valuables, why not have a specialist on your side? At Vision Insurance we always put your interest first by analysing your needs and building a bespoke solution to cover those needs.


Author: Elizca Bruce (Short Term Insurance Consultant – Vision Insurance)