Is it cheaper to buy insurance directly or through a broker? What are the pros and cons?

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  1. Moon BeamMay 30, 2025 at 4:55 PM

    Whether buying insurance directly or through a broker is cheaper depends on several factors. Here’s a quick comparison:

    Buying Directly
    Pros:

    Often cheaper since no broker fees or commissions.

    You deal straight with the insurer, which can simplify communication.

    Faster quotes and purchases online.

    Cons:

    Limited to the insurer’s own products—less variety.

    May miss out on personalized advice or coverage tailored to your needs.

    Buying Through a Broker
    Pros:

    Brokers can shop multiple insurers to find the best price and coverage.

    Personalized advice and help with complex insurance needs.

    Assist with claims and policy management.

    Cons:

    Sometimes higher upfront costs or commissions, though many brokers are paid by insurers.

    Can be less transparent on pricing.

    Which is cheaper?
    Direct can be cheaper if you know exactly what you want and can compare prices yourself.

    Brokers might find better deals by comparing many options and tailoring coverage.

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