Reasons to choose an independent insurance broker and how to find one
If you’re new to the world of insurance, or are in the process of purchasing your first policy, you might be wondering: what’s an insurance broker? Do I need one? What do they do? “An insurance broker is someone who can get you quotes from multiple insurers to help you find the best price and protection.
In a sense, they operate as an intermediary between you and your insurance company. They have experience, skills and the necessary know-how to find a policy best suited to your personal requirements. They can save you time and money when it comes to buying insurance.
It’s important to remember that not every insurance broker is the right fit, but there’s one that will be right for you. Not all brokers operate independently, either. An independent insurance broker always has your best interest at heart, because they work for themselves and don’t answer to a big conglomerate who is only after profits.
Top two reasons to choose an independent broker
1. INDEPENDENT BROKERS HELP YOU FIND THE BEST RATES Sure, you can opt to buy a simple insurance policy through an insurance company that was easiest to find. But it pays to have an expert in your corner who can find you the best coverage for your circumstances at the lowest price. Brokers won’t push you on any purchase, nor will they jump for the cheapest option. They still want you to have great coverage, which doesn’t mean skimping on protection just to save a few more bucks. Brokers are not paid by any one insurance company, unlike agents, and may work on commission. However even with the fee that a broker charges, you’re likely to spend less overall. It’s a win-win. 2. INDEPENDENT BROKERS ADVOCATE FOR YOU, EVEN AFTER YOU BUY YOUR POLICY Brokers are used for more than just purchasing your policy. They have plenty of experience with working with insurance companies, negotiating, and filing claims. They can help to expedite the claims’ process and get you your settlement easier than ever, at a time when you need it most. Claims counselling is a benefit that numerous brokers offer. If you are debating whether or not to make an insurance claim, but are considering asking for a second opinion, an insurance broker will be able to review your circumstances and give you advice before you even need to consider making a claim. Your broker will answer any questions on your policy, help identify coverage gaps and help you make changes. With their experience in the industry and relationship with you, they’ll be able to provide you more accurately with an answer based on your personal circumstances.
How to choose a broker?
When you choose an insurance broker to work with, you’ll want to choose someone who has the right expertise, right credentials, and can handle your situation. Before you sign onto anything, ask this:
|What’s their qualifications?||How do they assist you in case of a claim?|
|Do they have a fixed fee or work on commission?||What records/info do they need from you?|
|Will they reach out before renewal time?||What policy term lengths do they suggest?|
How to find an independent broker
The Canadian Broker Network (CBN) works with the best independent brokers across Canada, who will help you find the best individual or business coverage at affordable rates.
We at A-Kan Insurance, member of the (CBN) based in Edmonton, Alberta are independent brokers and are specialists in what we do, and will take the time to get to know you, and your business, and build a relationship with you to ensure you’re properly protected. Our risk management tools help you prepare for, prevent and recover from unforeseen events and will assist you through the claims process.
To find the independent brokers near you, visit Canadianbrokernetwork.com.