What is an insurance broker?

The difference between a broker and an insurer

An insurer sells you its own products. A broker works for you and can approach many insurers — including specialist and Lloyd's markets that never sell directly to the public. That independence matters most when your risk doesn't fit a standard online form: a fleet with mixed vehicles, a business with a past claim, a property with unusual construction, or professional work with specific liability wording needs.

How insurance brokers get paid

Most brokers earn commission from the insurer, built into the premium, and some charge a broker fee on top — this should always be disclosed to you. The key point: using a broker rarely costs you more, and frequently costs less, because a good broker knows which underwriters want your type of risk and where the competitive pressure points are. Underwriters price more keenly when they know a broker is testing the market.

When a broker is worth it

A broker adds the most value when:

• Your insurance is commercial — business, fleet, professional indemnity, cyber or property portfolios.
• You've had claims, convictions or other complications that make online quotes expensive or declined.
• You need cover that doesn't exist on comparison sites — most specialist markets are broker-only.
• You want someone to fight your corner at claim time, which is where brokers genuinely earn their keep.

How CoverBroker fits in

CoverBroker is not an insurance broker and doesn't arrange cover. We introduce you to a specialist broker matched to your actual risk — using your documents and enquiry details — and optionally review your current policy with AI so you walk into that conversation knowing where you stand. The introduction and the review are free.