Why use a Broker or Independent Financial Advisor?
Independent Financial Advisors (IFA's) have the knowledge and experience to help you attain the most cost effective policy structure for your personal and business financial needs. They deal with a wide variety of financial products every day, and will be able to find not only the cheapest plans, but also be able to ensure there's no nasty surprises in the small print. Not all policies are as they appear, and an IFA or Broker can help you to avoid the various pitfalls - whilst paying too much for your policy is not sensible, nor is paying too little, just to find that you're not actually covered for what you intended.
Because they are regulated by the FSA, you can rest assured you're getting the best advice for your situation, and will be purchasing a product that covers you for whatever your needs. You can also use their considerable experience should you need to make a claim - they know the exact workings of the policies they broker, so can aid you in the unfortunate event of needing to claim.
Why not Just Shop Around?
Obviously the best way to find a great deal IS to shop around. Because IFAs are working with these products every day, they have a wide range of providers to choose from (and because they are independent, they are not tied to any particular provider), and are already familiar with the best and cheapest products on the market. This means they will do the shopping around for you, and can draw on their considerable experience to find deals that are not readily available elsewhere, and also create a product tailored to your specific requirements. This means they do everything for you, and not only save you time, but money too.
Won't Dealing Direct Give a Better Deal?
Not usually, no. Because IFAs are so well respected and widespread nowadays, they get preferential rates to the standard website rates found with many of the well know insurers. They can also organise tax relief on many types of insurance, which depending on your tax rate, can save you up to 40% on your premiums! Insurance providers are obliged to offer at the very least, the same rate as they offer direct to their customers, so you can be certain you are getting the best deal available - either the same, or BETTER than the rate you'd get dealing directly with the insurers.