Every person, family, and business needs insurance. But where you find that insurance can determine how well your policy fits your specific needs. Each person is unique in the insurance coverage they need, from health to home maintenance. Most people today are accustomed to doing some online research, then choosing an insurance provider.
However, dealing with insurance companies directly does not always yield the best results. You may quickly find that each insurance company can only recommend policies and services within their own system, and that the best provider for your car insurance might not be the best provider for your home insurance, business insurance, or private health insurance.
This is when most people review their options and discover the benefits of working with an insurance broker.
What is an Insurance Broker?
An insurance broker is a professional buyer of insurance. They research and purchase insurance policies on behalf of clients, earning them the title of ‘broker.’ The most notable thing about an insurance broker is that they do not work for any specific insurance agency or provider. Instead, they operate as an independent insurance professional; an expert in policies and coverage but without an ulterior motive to limit your options or point you toward specific policies.
An insurance broker primarily works for the client, you. Their job is to understand your individual needs and the assets you want to protect, then locate the best insurance deals from your full marketplace scope of insurance providers.
The 5 Benefits that Insurance Brokers Offer to Clients
Working with an insurance broker offers significant benefits to clients, whether you are approaching as an individual, the head of your household, or a business owner. Insurance brokers offer valuable insights into the insurance marketplace, with attention to what you need most from each curated policy.
1) Personalized Service
Insurance brokers offer a uniquely personalized service. Unlike other insurance professionals who work for insurance companies, their goal is to help you meet your personal coverage needs. They begin each service by listening to what a client needs, learning the coverage that is most important to them, the things they are worried about, and the coverage that the client may not need due to specific circumstances.
Insurance brokers never offer a one-size-fits-all solution. Instead, they will curate a list of policies that are most beneficial to the client. In fact, brokers have the insider knowledge on how to customize your policies for even more fine-tuned personalization than you will find working directly with the insurance companies themselves.
2) Choice and Access to Multiple Companies
You may be surprised initially to see that the policies recommended by your insurance broker come from several different insurance providers. This is because they are looking for the best policies for your individual needs. Insurance companies will try to sell you bundles that all come from their policy suite or network. However, these bundles are not always in your best interests, and often include coverage (and expenses) that you don’t need.
Instead, an insurance broker will find the best coverage for your needs at the best price for each individual insurance policy that they recommend. They also have access to and awareness of smaller insurance providers that may offer exactly what you need for a specific policy, unlike the cookie-cutter policy packs available from the well-known insurance brands.
3) Objective Advice
Unaffiliated with any insurance company, you can trust that the advice of your insurance broker will be objective. Insurance agents may be loyal to their company and commission first, but an insurance broker is focused only on the needs of each client.
An insurance broker is someone who understands the inner workings of the insurance market and will use that knowledge to help you build the best policy-stack regardless of which brands or bundles might be included.
4) Advocacy in Claims
When it comes time to file an insurance claim, your insurance broker will be on your side. It is the job of an insurance company to deny or minimize as many claims as possible. That’s how they make a profit. This means an insurance agent is not there to advocate for your case. An insurance broker, on the other hand, works for you alone. They will help you navigate the challenging insurance claim process to help you build the best case to get your claim approved. If your claim is denied or minimized, your insurance broker will help you fight for a fair payout based on the specific language in your policy.
5) Saves Time and Effort
Working with an insurance broker can also save you a lot of time and effort. You might know that comparing policies is useful, but few people have the time or the insight to find the best deals among all available insurance providers. Your insurance broker will not only put together a complete yet affordable insurance portfolio, they will also explain why each policy is ideal, show you comparisons to similar policies, and help you build the best insurance stack. You can save hours on research and come up with a finely tuned set of insurance policies that uniquely fit your needs and budget.
Consult With an Insurance Broker
At Duliban Insurance Brokers, we are proud to work with individuals, families, and businesses to help streamline the insurance needs of the Ontario community. We know how much trouble and expense goes into finding the right insurance policy, and how difficult insurance companies can be when asked to honour a claim. The Duliban team is here to help you find the best policies for your needs without limitation to certain insurance providers or policy bundles.
After a quick consultation, we can begin to help you get the insurance coverage you need, whether you are looking for one policy or to build an entire stack of comprehensive coverage.
If you’re ready to personalize your insurance and gain an insurance advocate on your side, contact us today for a consultation and a quote.
