Using Brokers

As an independent insurance agent or broker I often times find people question why they should use a third-party to assist in placing their insurance coverage. Insurance is a financial decision, one with repercussions if you fail to account for all possibilities. It is difficult trusting our personal and financial information to any one, let alone an outsider, but let’s get over our insecurities and weigh the options.

Ease/Peace of Mind

Ease encompasses a few areas. Ease of doing business, ease of contact, ease of mind. Think about how your broker makes you feel in these areas. When is the last time your agent called you? Have attempts been made to increase or broaden your coverage. Agents have your best in mind and feel

Do you trust that your policy correctly covers you, your life, and protects you from the unexpected? Do you have nightmares of what happens if you have a fire or are involved in a severe car accident since you know you’re not insured, or worse that your agent/broker hasn’t presented all of your options.

If you prefer to conduct your business online an agent can be a con. Some agents are more tech savvy than others. Insurance carriers also vary in their technological platform and user experience. Explore what is out there. A drawback of an online policy can be clear as day when you sit on hold to make a car change for 45 minutes only to come across a representative with what seems like 0 insurance knowledge.

Bottom line; If your broker or company doesn’t fit your needs or preferences find one who will! Sooo many options are out there!

Perception

Conventional wisdom can lead us to believe the internet can provide means for consumers to purchase any commodity which is available. Insurance to me is not a commodity. It is a relationship. A trust between you, your agent, and your insurance company. Insurance agents are not just for your parents or grandparents or conversely for the older generation you’re not out of line by working directly with an online company if it better suits your needs. Treat your insurance the way you would your trusted mechanic, financial advisor, or accountant.

Is There A Cost

Insurance agents and brokers are compensated for their services. It is a cost paid by the insurance companies, not paid by the consumer. Don’t think that eliminating the third party equates that your premiums will be cheaper. Brokers are professionals, they are paid for their time and knowledge just the same as a banker or teacher.  

Working with a third-party can cost you time. Having to give out your information, wait for a quote, and review the options can result in a few days of tapping your foot patiently waiting, wondering what the outcome will be.

Not reviewing all of your options can and will cost you money. There are a wide range of insurance companies, each will price for you and your specific needs differently. Not exploring all options could mean the one company you didn’t have quoted is the best fit for you.

 

“To give real service, you must add something which cannot be bought or measured with money, and that is sincerity and integrity”

Douglas Adams

 

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