21 Nov

What Are the Benefits of Using Insurance Brokers?

Insurance brokers are the well known but misunderstood saviors of the insurance world. Many people believe that doing their own research and shopping will result in money well spent. Sadly, this is not the case in the financial world.

Insurance brokers do the shopping for you

Insurance brokers can best be compared to having your own personal butler in an outlet shopping mall. You enter the mall and suddenly have access to hundreds of companies with a personal butler that will do the shopping for you. Insurance brokers work in a similar manor.

When you contact an insurance broker, you are actually contacting hundreds of insurance companies with one phone call. Your insurance broker is the expert who will comb through these companies to fine tune exactly what you are looking for—and he or she can present it to you at the best rate available.

Because of the competitive field that insurance brokers work in, they also have access to rates that may not be available to the general public. For example, if you have been dealing with an insurance company directly for years, do not be surprised if a broker can get you that same coverage through the same insurance company at a better rate. Companies are willing to work with brokers in order to keep a competitive edge and gain more customers.

Insurance brokers have access to companies that you do not

InsuranceBrokers_210820140428Some Insurance companies will not work with the general public. In order to gain access to their insurance services, you have to choose an insurance broker that works with them. This works well for all parties involved:

•    It is great for the broker, as it is value added service;

•    It is great for the insurance company as they can deal directly with professionals who are experts in this field, therefore lessening the personnel needed to provide great service; and

•    It works well for the customer who can get personalized service from a local broker but still have the insurance coverage of a high end national insurance company.

Insurance brokers can offer you more options

Let’s say that you are after a certain type of insurance with certain coverages for a specific vehicle or property that you own. Your current company might be able to meet or offer you two out of three of the requirements that you desire.   Insurance brokers go a step further by giving you options for the criteria you are looking for.

If one specific company does not have the full service you need, another will. By using an insurance broker, you get answers all in one phone call. In addition to this, you may be able to specify the insurance company you prefer to work with, but you still have the option to get additional side coverage’s for the other options you prefer through your broker’s use of other insurance companies.

Insurance brokers have more answers

Insurance companies will be able to give you information about their own insurance coverage. They will be well informed on insurance and policies. If you want general information on policies, coverages and how it pertains to you, you will want to speak to somebody who is not biased towards one company. Insurance brokers will be able to give you a better overall understanding on exactly what you need, then they will match you to a company that can work well with you.

Insurance brokers are the missing but needed link between a happy customer and the exact coverage they are looking for. They eliminate the need for countless phone calls and hours, even days, of price comparing and shopping around. They eliminate the need for you to become your own insurance expert. They eliminate the need for you to switch companies a number of times before you find one you are happy with. They eliminate the question of “did I miss something” when deciding on an insurance company. Insurance brokers are the middle man between the insurance companies and the customers that use them. Their prices are lower and their services are often much better. If you have not tried an insurance broker, phone one in your area and ask them about your own coverage. You will be surprised about the information and pricing that they are able to provide for you.


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