The Benefits Of An Insurance Broker: Why You Should Work With A Broker
What Is An Insurance Broker?
An insurance broker is a professional who provides insurance to meet the needs of customers and provides professional advice and on-going service whenever required. An insurance broker’s services are free and can save you time, money, and worry.
An insurance broker uses their skills and knowledge to help customers get insurance that delivers excellent value and peace of mind protection.
Insurance brokers find insurance for individuals, families, business owners, and organizations by getting quotes from numerous insurance companies.
Insurance brokers can look after all of your insurance needs. Brokers sell all types of insurance – home, auto, recreational, seasonal home, business, farm, life insurance, and more.
How Do Insurance Brokers Work?
When you contact an insurance broker, the broker will ask what kind of insurance you are looking for and a series of questions to determine your insurance needs. The insurance broker will promptly provide you with several competitive quotes and protection options from insurance companies across Ontario.
Insurance brokers will help you assess your risk exposures and determine how to best manage these risks with insurance. They will review insurance quotes, prices, and coverages with you. A benefit of working with an insurance broker is you have insurance choices and professional guidance. You can then select the insurance policy that meets your needs and your budget.
Another advantage of working with an insurance broker is you will get continuous service. Insurance brokers provide on-going service to their customers. If you want to change your policy, report a claim, need additional insurance, need advice, or have questions, your insurance broker is available to promptly help you. Insurance brokers go above and beyond.
There are insurance providers who are known as agents or direct writers. Agents and direct writers are salespeople for one insurance company only. Their goals are completely different from insurance brokers. An agent or direct-writer salesperson’s goal is to make a sale for the insurance company they work for. After a sale, these customers may not receive the same level of personal and prompt service received by customers of insurance brokers.
Often the companies that agents and direct salespeople represent will operate in a call centre environment. These can be impersonal behemoth companies.
With an insurance broker, you get personal service. This commitment to personal service is commonly related to the fact that insurance brokers often work in their communities where their customers live and work.
What Are The Benefits Of An Insurance Broker?
The benefits of an insurance broker include; Insurance protection, competitive prices, insurance for all of your needs, savings of time and money, ease of service, obtaining service your way, prompt and personal attention, having a trusted advisor, expertise and experience, your interests are paramount, assistance with claims, and continuous care.
There are many benefits of working with an insurance broker, and you will notice the advantage from the moment you contact us.
1. Insurance Protection
Your risk protection is a primary focus of insurance brokers. We are experts in the business of risk. We will help you get the insurance that suits your lifestyle. Your protection is our goal.
2. Competitive Prices
Insurance brokers deliver excellent value for your insurance dollar. An advantage of an insurance broker is that we shop insurance companies across Canada and broker-only markets to get you insurance for your needs and budget. This ensures that you get a variety of prices and coverages. You get choices. You select the protection you want.
You won’t get to choose from a variety of insurance quotes if you use an agent or direct insurance salesperson. An agent or direct salesperson works for one company only.
Working with an insurance broker has the increased ease of working with one insurance professional for all of your insurance needs. You can also save money when you have several policies insured by the same company.
4. Savings of Time and Money
Insurance brokers know insurance. We also know that insurance can be time-consuming and expensive. Insurance brokers focus on promptly helping you get the insurance protection you need and want. We also help you get every insurance discount available to you. Discounts can mean substantial savings. We work for you to save your time and money.
5. Ease and Speed of Service
When you contact an insurance broker, you get speedy service and a commitment to make insurance easy. We provide easy to understand explanations of coverages, confusing insurance jargon and terms of your policy. We help our customers get through the sometimes-complicated insurance experience with ease and speed.
6. Service Your Way
We provide service the way you want it. We offer service online, in-person, on the phone, by email, and by text messaging. We love to see our customers, but we know life is busy, and you may want to use other technology for your insurance service. At our brokerage, our customers select how they want to be served. We deliver service your way.
7. Prompt and Personal Attention
Have you recently been in contact with one of your service providers? Let’s say a telecom company or a bank. You may have noticed being put on hold immediately with a frustrating repetitive message trying to assure that you are a valued customer and call volumes are higher than normal yet again, and someone will be with you… eventually. When someone finally answers they are a complete stranger not knowing you, your situation or your history every time you call. You are not alone if this type of service makes you feel unappreciated and undervalued or just another number to these big corporations instead of a truly valued client.
Insurance brokers are entirely different. We are proud of our prompt and personal service. Each time a customer contacts us with a claim, a question, an insurance change or a new insurance need, the customer is served personally and promptly.
8. A trusted Advisor, Not a Salesperson
Insurance brokers are experts in the insurance market. We know how to secure insurance to meet your needs.
Here is how it works: We represent numerous insurance companies that carry an excellent reputation, we then give all of these insurance companies an opportunity to compete for your business. Every company offers different coverages and different prices. We help you to assess the quotes and will advise you if we think one quote has an attractive low price but not enough coverages for your lifestyle. Remember: A low price can seem great at the time of purchase, but an uninsured loss can cost you much more than the modest cost of additional insurance protection. Example: The cost of insuring your basement is much less than having to pay for extensive water damages.
We are insurance advisors, not salespeople. Your protection is our goal. We won’t push you into buying insurance that doesn’t meet your lifestyle and budget.
9. Expertise and Experience
When it comes to insurance, you need an insurance expert’s help.
Because we represent numerous insurance companies, we do not have a loyalty to sell the products of any one specific company. We do not work for any insurance company. We are independent. Brokers work in insurance brokerages that are often independent and family-owned. Our loyalty is to our customers. It is all about you.
11. Assistance With Claims
Making a claim can be stressful. We also want to know when things will be fixed. An insurance broker knows the claims process and will help you navigate the sometimes-complicated process of claims resolution. We will work on your behalf, communicate with the insurance company, and help to get things resolved as quickly as possible. We are pleased to help.
12. Continuous Care
In some cases, when you buy insurance, you don’t hear from the company again until it’s renewal time. This is not how insurance brokers operate. We build relationships with our customers through our commitment to on-going care and service. Expect us to provide assistance whenever you need it. We reach out to you with information and tips about insurance. We are your partners in insurance.
Scenarios To Outline The Benefits Of An Insurance Broker
You are a homeowner. You just renovated your basement. It’s perfect. That is, it WAS perfect until you come home one day to extensive water damage. Everything in the basement is ruined. What do you do?
You contact your insurance broker. You receive critical advice prior to proceeding with a claim. The broker helps you to get the claim started. The insurance broker will work with the insurance company to help settle the claim fairly and quickly. You are not alone. You have help from your insurance broker.
Someone breaks into your home. Your expensive jewellery is stolen. What do you do?
You contact your insurance broker. Fortunately, when you bought your home insurance from your broker, you talked about the value of your jewellery. You were advised to purchase enough insurance to cover your jewellery to its value. Without this extra coverage, your jewellery claim would be limited to a standard and far lower amount of coverage. The insurance broker helps you to get the claim completed as quickly as possible.le
You have a car accident. People are injured. Property is damaged. What do you do?
You contact your insurance broker. Ontario law requires that you have third-party liability coverage, which protects you if someone is injured or killed or property is damaged. Ontario law requires that you have a minimum of $200,000 in third-party liability. When you bought your auto insurance, your insurance broker advised you to have more liability coverage than the minimum – many brokers advise $2 million in liability coverage. The extra coverage costs a bit more, but it’s well worth it when you think of the very high cost of liability claims and settlements following bodily injuries and damages from auto accidents.
Why Should I Use An Insurance Broker?
You should use an insurance broker to protect yourself and your belongings. Get competitive insurance prices, coverage options, expert advice, and personal on-going service when you use an insurance broker.
What Do Insurance Brokers Do For Me?
An insurance broker will help you to protect what matters to you. We offer insurance protection for your home, your auto, your recreational items, your business, your farm, your life, and more.
What Makes A Good Insurance Broker?
A good insurance broker cares. We care about our customers and their insurance protection. Our goal is the best insurance and service for each person we serve. We will save you money whenever possible, and we will offer insurance help whenever you need us.
How To Find An Insurance Broker?
The best way to find an insurance broker is to look online and compare things including their online reputation, suite of insurance products, the broker or brokerage values, and the professionalism of their website.
Look for an insurance broker with great online reviews. Check Google, Facebook, and other review platforms.
Look at the insurance broker’s website.
Make sure the broker provides the insurance you are looking for. If a broker can look after all of your personal and/or business insurance needs, this is preferred. Using one broker makes it easier to manage your insurance. You can also save money by having several policies – your home and car or your home, car, and business, for example – with the same company.
Does the broker or brokerage have a good reputation? Have they been in business for a while? Have they been recognized for their products and service by customers and others? The broker’s website and online reviews will provide information on these topics.
What are the broker’s or brokerage values? Is the brokerage family-owned?
What are their business values? Do they give back to the community through sponsorships and donations? The website is also useful when you are looking for this information.
Advantages Of Using An Insurance Broker at Morison Insurance
Our customers regularly recognize our team for providing outstanding service and insurance products with their online reviews on Google, Facebook, and other platforms. Our website also includes customer testimonials.
Our goal, every day, is to provide the very best to every Morison Insurance customer.
Enjoy every benefit of using an insurance broker when you are a Morison Insurance customer. We look forward to serving you.
This blog is written by our Morison Insurance team. It is provided for general information only. Insurance needs differ from person to person, and this article is therefore not a substitute for professional advice about your individual insurance needs which can be obtained by speaking to one of our brokers.
At Morison Insurance we represent dozens of Canada’s best insurance companies. All provide competitive prices, excellent service and outstanding claims service. We will shop at all of these companies to get you the best insurance for your individual needs.