What Do You Expect From Your Broker?

[FlakeyFoont]

What do you expect from your Insurance Broker?

I've never used an Insurance broker before in the U.S., always just went direct to the Insurance company. I decided to use a broker here for my car insurance since I'm not sure how insurance may differ here in Thailand.I contacted a broker on-line and was sent one policy (AXA class2+1, also called "Smart Drive 5").

Now perhaps this is the only good policy in Thailand that fits my requirements.

The policy looks good, but from a broker I was expecting a few choices.

Am I expecting too much?

[richardt1808]

hi,

I also had the same experience with a Thai Broker, who also recommended AXA.

My mate did some research for me and turns out that the recommended policy was actually pretty good, but in the end I was able to get an even better deal from MSIG. There are 5 - 6 really good insurance companies here and over the years I have also used Bangkok Insurance and Syn Mun Kong (or something like that) and been very happy with the service. I had 2 minor accidents with SMK (not my fault) and they answered my call within seconds and had an agent at the scene within 5 minutes on both occasions so definitely recommend them. I looked at the AXA website and it is certainly the best of the bunch, in terms of online presence, so you should do okay with them.

Best of luck

[madmitch]

Brokers will have their preferred companies for specific classes of business and a good broker would generally have a good idea of the best options for a specific risk.

You could always ask if they got any other quotes but you will probably find that AXA is as good as any of the others and don't forget to compare coverage. AXA include roadside assistance in the event of a breakdown and a rental car while yours is in for repair.

[canopus1969]

Try the Thai Visa Brokers. We used them and bought AXA - very good service.

[thaiericsweden]

Brokers provide more than just a shopping service.

Brokers can help you save money on premiums, but that is not the primary function of a broker.

Brokers really help when there is a problem with a claim.

They know from experience on how to solve the problem with the best possible outcome.

Brokers can send you a dozen quotes for a single insurance request, but that doesn't make them a better broker.

The broker pre-qualifies insurance companies.

They steer customers away from the cheapest insurance companies because cheap usually goes hand-in-hand with more problems.

If your primary objective is to buy the cheapest insurance, then you should re-asses your insurance needs.

Again, I stress, cheaper insurances have a good chance of costing you more at the end of the day.

[jazzbo]

Brokers really help when there is a problem with a claim.

They know from experience on how to solve the problem with the best possible outcome.

As regards healthcare, so can the hospital's Insurance Office who deal daily with your Insurer and will often act as your advocate ...

... and there is always the possibility that an Insurance Company for whatever reason plain doesn't like a particualr agent and that can work against you

Edited July 26, 2010 by jazzbo