For far too many years I have heard members of the insuring public, on two different continents, talk about the ‘small print’ in insurance as if they truly believe is deliberately added to policies to do them out of making a claim under the policy. Like a trap!
The truth is that an insurance policy is a contract like any other contract, with detailed terms and conditions written into it. Nothing is ‘hidden’, however, customers continue to be ‘shocked’ and ‘vexed’ when the terms of the policy are outlined to them, usually after a claim is made that is not covered. That is when you hear the cries of “insurance too tief!!!”
Why does this keep happening?
When we break it down, what we are really witnessing is a lack of adequate explanation by the insurance ‘experts’ to the lay customer, at the point of sale. Think about it…Insurance professionals study for years to understand the scope of cover under each class of policy, so it is unrealistic for us to expect the average policyholder to fully understand their policy…big or small print!
That is where your insurance broker comes in (or if you choose to insure directly with a company, your Insurer). Remember, using a broker costs you no more than going direct to an insurance company! The benefit of using a Broker is that we represent YOU, the client, just as an appointed Lawyer would. It is our purpose to find you the best insurance provider, to secure the most competitive premium AND to make you aware of the pertinent components of the policy you are buying. We translate the technical jargon to ‘plain talk’, while ensuring that the more detailed ‘technical’ wording (read: small print) is favourable to you.
If you only want the cheapest premium and don’t want ‘no long argument’ (brief explanation of policy cover 🙂 ), you may just miss out on hearing about the ‘small print’. When you appoint a ‘good’ broker, you benefit from choices of all the insurance companies, competitive premium, the right cover for your needs AND there should be no surprises at the point when a claim arises.
Like all good relationships, communication is key, so ‘mek wi reason likkle’. We want to get to know you as you should seek to know us. When you know the real deal about insurance, you will relish being another one of our satisfied customers and will confidently send the next person you hear say…”Insurance too tief!” to our doors (or online platform!).
Each one teach one! 😉