Why Choose an Insurance Broker?

April 24th, 2014

What is an insurance broker?

That’s a question that we’ve often heard here at Rogers Insurance. The short answer is that insurance brokers are experts who build strong relationships with their clients in order to find the best coverage solutions at the best possible rates. In fact, most people who choose to work with a broker do so because they love the relationship and consistently dealing with one person.

The insurance world is in a state of major change right now. Historically, insurance companies (also known as “direct insurers”) haven’t sold their products directly to the consumer. Instead, they offered insurance through agents. That has changed, however, in recent years.

Now, using enormous marketing campaigns and gimmicky tactics, some large insurance companies now try and reach out to clients directly rather than going through agents. Through these costly and shallow efforts, insurance companies create the façade of a deep-rooted kinship to their client. They give the illusion that they’re involved in the community and that they understand the needs of their clients and will always operate in their best interest. Unfortunately, this often isn’t the case.

In fact, insurance has never been cut-and-dry. Whether you’ve just bought your first car, a new home or need insurance for your business, the same worries remain:

  • How do I know I have the right coverage?
  • Am I getting the best value?
  • What if something happens, will I really be covered?
  • How do I cope with a loss and then file a claim?

 

Why choose an insurance broker?

Here are just a few of the reasons why you should choose an insurance broker:

  • Insurance brokers work for you, not the insurance company.
  • Insurance brokerages are typically a one-stop-shop for all your insurance needs. They will have products ranging from auto insurance and home insurance to sophisticated commercial insurance.
  • Insurance brokerages are not call centres. Making changes, requesting documentation and getting answers can be frustrating with direct insurers (especially if you’re bounced around from person-to-person, or department-to-department.) But insurance brokers take the time needed to ensure that you know all of your options, understand them and receive the coverage you need.
  • Insurance brokers strive to act in the best interest of their clients. That means building close relationships to understand their needs.
  • Insurance brokers have the ability to shop around to various insurance providers. That means that with one call to a insurance broker, you are guaranteed the best products for the greatest value. Conversely, if you went directly to an insurance company you’d only have access to their products and prices.
  • Insurance brokers are your advocates during any claims situation. Keep in mind that when you go through an insurance company, any claims you make are handled by them, meaning they’re both the “judge and jury.” Insurance brokerages, on the other hand, will typically have a dedicated claims team at the ready to walk you through the claims process.

Insurance brokers build long-lasting relationships with their clients. Most people who choose to work with a broker do so because they love the relationship and dealing with one person on a consistent basis. It’s not unheard of for insurance brokers to have clients as long as the brokerage has been operating. Regardless of whether you choose an insurance broker over a direct insurer, the most important thing is to find a provider you trust and that has your best interests in mind.

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