Insurance Brokers vs. Buying Direct: Which Is Right For Your Business?

Let’s face it, buying insurance isn’t exactly most people’s idea of fun. Between figuring out what cover you actually need, decoding jargon and deciding where to buy it from, it can all feel a bit much. Do you go straight to an insurer online? Do you chat to a broker? What even is an insurance broker, and what do they do?

  With so many routes to take, how do you know which one makes the most sense for you?  

  At Ascend Broking Group, this is a question we’re often asked, so let’s break things down and explore the key differences between buying direct and working with a broker - plus how each is paid, and which route could be the best fit for you and your business.  

What are the different ways to buy insurance?

There are a few main ways to go about buying insurance:

 

1. Independent insurance broker

A broker will work with a wide panel of insurers, not just one, which means they can shop around on your behalf to find the most suitable cover for your specific needs. A broker’s role isn’t just to provide you with a quote, it’s to fully dig into the details of your business and its specific risks, ask the right questions and make sure a policy fits like a glove. A broker will also give guidance and support throughout the policy’s life, including at renewal or (fingers crossed, you never need it) during a claim.

  So instead of you trying to fathom the difference between ‘public liability’ and ‘professional indemnity’, a broker takes care of all that and explains it in plain English.  

2. Buying direct from an insurance company

This is a more DIY route. You go straight to the insurer - usually online - and get a quote yourself. For some straightforward policies (like standard car or home insurance), this can work fine. But there are a few things to watch out for. Firstly, you won’t have anyone representing your interests. The insurer’s job is to sell their policy, not to compare it with others or check that it suits your situation.

  And while those quick online quotes are handy, you might not be getting the full picture, or the best price. Many direct platforms don’t highlight important exclusions or alternative options that a broker would spot instantly.  

3. InsureTech and smart devices

This is a growing trend, insurers partnering with tech to give instant quotes via smart home devices or mobile apps. While these can be a fun way to get a rough idea of price, they’re often tied to a single insurer and rarely offer true comparisons. Plus, they don’t replace professional advice.  

What’s the difference between an independent agent and a broker?

In the UK market, people often use these terms interchangeably. But generally speaking:

  Both independent brokers and agents work with multiple insurers. Both can get you competitive quotes and help manage your cover. The key difference is in how broad their access is: some agents are limited to a smaller panel, whereas brokers like Ascend work with a wide network of insurers and often have specialist facilities or enhanced wordings available.

  Brokers also tend to provide a more consultative approach, especially for commercial insurance or more complex personal needs.  

How do brokers and agents make money?

This one’s easy: most brokers, including Ascend, don’t charge you directly for their advice. We’re paid a commission by the insurer if you take out a policy, and our team is salaried - not commission-based - so there’s no pressure to sell you something you don’t need.

  That means our recommendations are based entirely on what’s right for you and your business, not what earns the most commission.  

Is it cheaper to buy direct?

It’s a common myth that buying direct is cheaper. Sometimes it is, especially for basic cover. But more often than not, working with a broker gives you access to better value, because we can compare multiple insurers and tailor your policy properly. That helps avoid both overpaying and underinsuring.

    Plus, insurers can’t legally give you ‘advice’ when you buy direct. So, if you’re not confident interpreting the fine print, it’s risky. A broker acts as your safety net; checking the wording, the limits and making sure everything stacks up.  

So, which option is best for you?

There’s no one-size-fits-all answer here. If you know exactly what you need, want to do everything yourself and the cover is fairly simple, then buying direct might be satisfactory. But if your needs are more complex (or you just want a bit of guidance), going through a broker is usually the smarter and safer choice.  

Be a smarter insurance shopper

Whether you're buying cover for your home, business, car or something more specialist, it pays to know your options. And now that you’ve got a clearer view of how brokers stack up against going direct, you’re in a better place to make the right call.

  If you’d rather not go it alone, our friendly team at Ascend Broking Group is always happy to help. We’ll walk you through everything, explain the fine print and make sure you end up with the right protection - without the hassle.

Ready to chat? Reach out to us today on 01245 449060 or email matthew.collins@ascendbroking.co.uk.