Choosing the right broker for your insurance needs

Finding the right insurance coverage on your own can be a daunting and risky task. There are so many different factors at play, and if you have no experience, it’s a good idea to employ the services of a licensed insurance broker. 

They can evaluate your situation and help you select the right policy with the right coverage for you. We will take a look at the factors that can help you find the right  insurance broker who understands your needs.

What do insurance brokers do?

A licensed insurance broker is skilled at assisting you with selecting the policy that meets your exact needs. They follow these steps in the process

  • Evaluation of your specific insurance needs
  • They compare several insurance policies to find the one that most adequately meets your requirements
  • They explain the policies and provide several possible options for you to choose from
  • They help you find an affordable solution, whether it be a monthly payment plan, or a customized deductible option

An insurance broker can also be helpful dealing with the insurance company. Often, the insurance company representatives are not trained or licensed to provide assistance to customers beyond basic customer service requests. An insurance broker is much more experienced and can communicate client needs much better to the insurance company. If any disputes or misunderstandings arise between the client and the insurance company, you can always rely on your broker for help. 

 

What are the benefits of working with an insurance broker?

You can’t go wrong with having extra help when trying to figure out the right insurance coverage

  • Insurance brokers make sure they keep up to date with everything that’s going on in the insurance industry. They have to participate in continuous education and are well equipped to help you choose the insurance plan that meets your needs are is up to industry standards
  • Insurance brokers work with multiple insurance providers and have access to their products. They can do a simultaneous comparison of several insurance policies to find the one that fits your needs and is affordable
  • They can help you select the right plan for the premium you pay, find out if the rate can be reduced via discounts, deductibles or maybe even set up a monthly payment plan 
  • They can provide unbiased advice based on their experience to help you select a policy
  • An experienced broker can help you communicate with the insurance company and even settle disputes between a client an a company

 

So how do you select the right broker for you?

You can find our suggestions and tips below

  • Take a look at their website and their online presence. Do they have good reviews on google? Do they have a page on BBB (Better Business Bureau)? Were there any complaints or actions taken against the broker you are considering? This will give you some clues on what kind of experience the previous clients had dealing with the broker
  • Make sure the broker actually has contracts with multiple insurance companies, the more the better. This will allow them to actually serve your needs properly, to be able to compare quotes and provide unbiased advice. 
  • You can find out how long has the broker been in business and find out if their license is in good standing with the province
  • Have a quick chat with them to see if they understand your needs and that you are a good fit 
  • Make sure they have enough time to make themselves available for your calls and emails and reply promptly to your requests. 

 

Please call us at 1-877-211-4301 or send us an email to [email protected] and we will be happy to help you find the best coverage for you and your family. 

 

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