Why Using a Broker is Important
The world of insurance is a confusing one, and that might be the main reason to take full advantage of using an unbiased third party to both explain and educate consumers – this is the role of the insurance broker.
Let’s have a deeper look at some key points, and benefits, of the broker:
1. Options: As agents, we have the ability to access several different insurance companies for the same risk type; therefore, we can source and compare various coverage and premium options for clients. This is important otherwise consumers would be forced to purchase policies that are not cost effective, in addition, might not fit their needs appropriately.
2. Education: As we discussed above, a big part of a broker’s role is to educate the client on what the main risks are, and how specific policies can address those exposures. Insurance companies have a way of making things difficult to understand, and typically use a lot of legal wordings to accomplish this. The agent has both the experience and knowledge base to explain industry jargon to clients, so they understand where their premium dollars are going.
3. Service: Like any other industry servicing the general public of consumers, providing top tier customer service is paramount. In insurance, this is also vital because the sale does not end when the policy is sold, in fact, it becomes even more important post-sale for things like: claims advice and handling, adding endorsements to coverages, and many other issues that arise during the policy term.
In conclusion, consumers have the ability to access professionals in the industry, who have in-depth knowledge on coverage trends and options…and it’s free! Unlike some insurance companies that sell their products directly to customers, brokers source several different options, educate clients on those options, and provide cost-effective ways to achieve coverage goals.
If you would like to chat with an insurance broker on your various needs, reach out to one of our team members today!