When it comes to buying insurance, many people think they need to go directly to an insurance company – but that’s not always the best option. Insurance brokers and insurance companies both help you get cover, but their roles are very different.
🧑💼 What is an Insurance Broker?
An insurance broker is an independent insurance expert who works for you, not for an insurance company. They act as your advisor, shopping around to find the best cover to suit your needs, circumstances, and budget.
What does an insurance broker do?
✅ Compare policies from multiple insurers
✅ Help you understand the fine print
✅ Recommend products based on your needs
✅ Assist with claims and advocate on your behalf
✅ Provide ongoing advice and reviews at renewal time
Think of a broker as your personal guide through the world of insurance – someone who has your back and knows how to cut through the jargon.
🏢 What is an Insurance Company?
An insurance company (also called an insurer) is the business that creates and sells insurance products. They:
✔️ Set premiums
✔️ Define terms, conditions, and exclusions
✔️ Accept risks in exchange for premium payments
✔️ Handle claims and pay out approved benefits
For example, QBE, Allianz, CGU, and Zurich are well-known insurance companies in Australia.
💡 If you buy directly through an insurer, you’re limited to that company’s products. Their employees represent the insurer’s interests – not necessarily yours.
🔑 Insurance Broker vs Insurance Company: Key Differences
Insurance Broker
Works for you (the client)
Product range: Multiple insurers
Advice: Personalised and tailored
Claims support: Advocates for you
Fees: May charge a broker fee or be paid by insurers
Insurance Company
Works for the insurer
Product range: Only their own products
Advice: Limited or general
Claims support: Assesses & pays claims
Fees: No broker fee, but no personalised support
✅ Why Should You Use an Insurance Broker?
You want choice and market comparison
You have complex needs (multiple properties, business risks, vehicles)
You prefer expert guidance to navigate claims
You value ongoing advice and support, not just a one-off policy
Final Thoughts
An insurance company sells you insurance, but an insurance broker helps you find the right insurance. If you want someone on your side who takes the time to understand your situation, a broker is a smart choice.
👉 Want to chat about your insurance? At Gardian Insurance Brokers, we offer general advice to help you find suitable cover for your needs – with access to a wide range of trusted insurers.
