The Many Benefits to Having a Personal Insurance Broker

By: Mary Thompson, Capstone Brokerage President, January 5, 2017

Sure anyone can call an insurance company and get a policy that will cover their needs for insurance but are you getting the best coverage for your money?, An insurance broker can make sure that you are. Most consumers know they need coverage and just want the cost to be affordable. Consumers want to get coverage the easiest way possible, they want peace of mind that their assets are covered and most importantly want to have their personal information is secure.

Affordable coverage

There is a myth that going to an insurance company direct means that you are getting the best deal on your coverage. This is simply not the case. Insurance brokers are able to get pricing that is often times better than going direct. This e reason is because insurance companies often provide brokers with better rates. The risk is often lower for the insurance company when a broker is involved which may be the reason the rates can be better. Brokers are professionally trained and know the laws and regulations to make sure the insured is properly covered. Brokers know not to under-insure which protects the consumer and the insurance company.

Finding Coverage with Ease

Now let’s say an individual wants to find the best rate for their needs. Could they call several companies and get rates? Sure it is possible however this can prove to be very time consuming. What most consumers do not realize is a broker can shop your policy needs for you. This means a broker will do all the leg work to get the best value for the consumers needs saving time and frustration.

Peace of Mind that assets are covered.

Brokers are more efficient at cross checking policies than consumers because they are trained and licensed in insurance regulations and know the what coverage is needed. Brokers are also very good at educating the customer by explaining what types of coverage are available. Brokers are also better at answering questions in a way that is more understandable to the consumer. When a consumer goes direct… they may not be able to have the peace of mind a broker can provide.

Security of Personal Data

Brokers, are better equipped to deal with specific insurance questions and give people a stronger feeling that they are in safe hands. The trust conveyed by brokers is indispensable; they also are aware of how important a persons’ data is and take great care to provide a safe and secure environment for this information. In fact a brokerage would also have additional policies within their company to ensure the safety of the consumers’ data. Why is this important? This would mean if something were to happen and personal information was stolen that the broker and the firm that they work for would be there to help the consumer navigate securing their personal information.

Conclusion

While many may think not having a middle man is better in the case of insurance this is simple not true. A broker can help navigate the complexity of the consumers insurance needs, make sure they are properly covered and be there to answer any questions in a manner that is easily understood. The broker and consumer form a partnership to guide the consumer to the best policy options, financial savings and provide a peace of mind that is forged from the start. Once last thing to remember it DOES NOT cost an individual consumer anything to use a broker in fact their services are free to the insured. If you would like your personal insurance looked at by one of our personal insurance brokers we would be happy to provide an overview and perhaps help you save some money in the process.