Broker or Agent?

[Hemant]

Hi, I am sole proprietor of a small unit in Banglore. Till now I am insuring all my insurance through one insurance agent. Recently I am contacted by a broker to provide me all the insurance services for my unit. They are telling me that they would provide me the cheap and best insurance from the market. I am in a dilemma, pls guide me - Is the correct that broker would provide the cheap and best insurance to me?

Thanks,

Hemant

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[Rahul]

Agent - Can only cover one insurance company. Little or no knowledge about other companies insurance products.
Broker - Is representing all the insurance company. The broker to do the ringing/searching for a cheaper quote. And has 'expert' assistance if something goes wrong like claim.

[Master]

Hi, I am sole proprietor of a small unit in Banglore. Till now I am insuring all my insurance through one insurance agent. Recently I am contacted by a broker to provide me all the insurance services for my unit. They are telling me that they would provide me the cheap and best insurance from the market. I am in a dilemma, pls guide me - Is the correct that broker would provide the cheap and best insurance to me?

Thanks,
Hemant

Broker is good for the clients, who are having very good premium. If your premium amount is less please avoid broker.

[mintz]

Best way check quotes from your existing agent and the new broker, go for the company which is giving you best policy and rates. Or you yourself can check rates using online comparison websites like policybazaar.com and apnapaisa.com.