Buying insurance is very different from purchasing a product such as a mobile phone or a car. Firstly, you can examine the products before buying, and if the product is defective, you can likely have it repaired or replaced by the seller, usually under a certain warranty.

When you buy an insurance policy, you are purchasing protection against a specific loss or event in the future. You won't know whether the policy is "defective" until the loss or event occurs. By that time, it would be too late to discover that you did not have the proper protection, and you would suffer an enormous financial loss.

As a simple example, you probably own a car and have purchased a Motor Policy. You might have been advised to extend your Motor Policy to cover Windscreen Damage to protect your No Claim Bonus (NCB), which is a minor issue. However, are you aware or have you been advised to extend your Motor Policy to cover your Legal Liability to Passengers and also your Legal Liability of Passengers for Acts of Negligence? Such liability, including legal costs, can be very substantial, even though the additional premium is comparatively low.

Businesses and consumers who buy insurance without seeking proper advice, understanding exactly what they are purchasing, reading the fine print, and assessing whether they are getting value for their money may be disappointed when their insurance doesn't come to their rescue.

What do you get when you purchase your insurance through an insurance and takaful broker?

You get professional advice and market knowledge:

• He saves you time searching, negotiating, and selecting the right insurance protection and insurers.
• He will guide you through the claim process to ensure that your claims are settled fairly and without undue delay, sparing you the hassle and worry.
• He advises on changes in coverage and improvements in policy wordings as the client's exposure develops or the insurance market changes.
• He advises and guides you on how best to manage your risks and prevent, to the greatest extent possible, future losses.
• He reminds you when your policy is due for renewal.