Welcome to our second blog of 1-2-1 sessions with our members. This is an opportunity to expand on a member’s profile and give some personal insight into what they do and why.

This month is Colin Merenda of Merenda Insurance – an insurance broker firm based in Shoeburyness.

Merenda Insurance was established in 1966 by Rene Merenda, following 25 years in the City. He brought affordable insurance to the area and the company has gone from strength to strength ever since. The company places great store on the ability to protect the interests of the clients, many of whom have been with Merenda for over 40 years.

Today, the business is run by Colin, and has a wide range of clients both personal (for cars, homes, travel) and commercial (for businesses, shops etc). Some brokers specialise, but Colin believes in a broad client base.

But why go to a broker, such as Colin, when it’s so easy to go direct?

“There’s four good reasons to go to a broker,” replies Colin. “Firstly, we can give independent advice. If you go direct that advice is not available, because the insurance company can only sell their own policy to you. With a broker, they have a number of policies available for you and are allowed to advise on what is appropriate.

“Secondly, we sit down with you, determine what you need insuring, discuss the risks you could face and then find the insurance for it. We know who to go to and where the best deals are. By coming to a broker, we’ll know where to go for the right insurance. We have access to most insurance companies and will look for the best deal for our client. We don’t sell insurance, we buy it for you.

“Thirdly, we can review your existing cover and make sure you only insure what you need to insure. People can often be doubled-up on insurance. For example, house keys – often covered by everyday home insurance but people often take out additional insurance for their keys. It’s similar for mobile phones. People often get talked into purchasing insurance when purchasing their phone despite it being covered by existing insurance.

“Fourthly, we do the paperwork and so ensure it’s complete and correct. Elements of cover may be lost if a certain box isn’t ticked and, worse still, claims can be denied if the form wasn’t done correctly. Premiums are based on risk – we know how insurers make those decisions so can answer to get the quote right for the client.”

Merenda Insurance started off specialising in motor insurance but now will help out with anything. Colin adds, “We insure anything and everything, anyone and everyone. Often, working direct, you’ll be told ‘you can’t insure that’ when what the company mean is ‘we don’t insure that’, but, because we work a wide range of insurers and know their specialism, we can find you cover.”

But really? Anything? Anyone?

“Indeed,” says Colin. “For example, one client has an old criminal conviction. He went direct and was told he couldn’t get home insurance because of it. He came to us and we found him an insurer that would take him on. If it wasn’t for us, he would have carried on thinking he couldn’t get insurance and would have been left uninsured

“Another client bought a listed building and found his insurer wouldn’t cover it. Again, we found him a specialist insurer and his new home is fully insured.”

Insurance can be a pain for some and deemed too expensive by others. Not everything has to be insured – there will always be small and inexpensive items that we’re happy to replace ourselves. But it’s important to look into insuring the bigger or treasured items. Those things that will cost a lot of replace. Generally, insurance is about risk and one should consider if they’re willing to take on the risk of replacing the item. If not, they need insurance.

“Without insurance you’d go bankrupt, plain and simple,” Colin says sombrely. “Insurance is the cheaper and more affordable option. Indeed, some insurance, such as motor insurance, is a legal requirement but often it is down to the judgement of the client. Could you afford to rebuild your house? Could you, as an employer, afford to pay out for injuries to employees or a member of the public that were your fault? It’s unlikely, isn’t it?”

We all recognise the need for insurance and want the best cover at the right price. You can rely on Colin and his team to find that for you. And the furthermore, there’s no cost to you.

“The insurers pay me – not the client. The insurance market can get a poor press at times, but it is highly regulated and the clients’ interests are protected by law. We look for the best deal, not the best commission for us – it’s how we’ve always worked.”

So, it would seem the best way to get the best cover at the best price is go direct – to Colin!