Insurance shopping is never fun or exciting but when done right, you can find some real savings. But before you try to find the best price on the policy you are searching for, consider what an insurance broker can do for you. While you may have heard of insurance brokers or brokerages, you may not know the advantages of using one. In this post I will highlight five reasons why you should use an insurance brokerage.
What Is An Insurance Brokerage
An insurance brokerage helps people find the best policy for their budget by partnering with actual insurance companies. Think of a brokerage like a grocery store, you can find a variety of different brands for the same product.
And just like a grocery store, a brokerage carries a variety of insurance companies who offer different policies and prices. The difference is, when you use an insurance brokerage, you do the shopping for you.
Focused On You
Unlike an independent insurance company, an insurance brokerage’s agents do not work for any of the insurance companies they are partnered with. In other words, at an independent insurer their agents are less concerned with your budget.
Instead their focus is on selling you only their policy at their price. However when you go with a brokerage, it’s just the opposite. A brokerage’s agents are only focused on your specific needs including your budget.
One Stop Shop
Another advantage insurance broker’s have over independent companies is the fact that they offer a slew of policies to compare. As I said in the above paragraph, independent companies are only concerned with selling you their specific products.
On the other hand, a brokerage allows you to compare different companies’ policies all in one place. Sure, you could go from company to company obtaining quote after quote, but why waste your time? An insurance brokerage will do that tedious shopping and comparing for you.
Understandably, not every driver has a perfect driving record. When mistakes happen, driver’s pay for it in more than one way. Depending on the severity of an accident, or how many violations might be on your record, you may be flagged as a high-risk driver.
And high-risk drivers have a harder time not only finding affordable prices but sometimes they even have difficulty getting insurance. Well that is not exactly the case with an insurance broker.
While an independent insurance company will offer a high-risk driver a single policy or even deny them one, a broker will work with you. And because brokers work with so many different companies, you are sure to get the best price despite your risk level.
Guiding You Through A Claim
When an accident occurs and you need to file a claim, you’ll need the assistance of your insurance company. Yet, when you go to call your insurer, you may be stuck not knowing what to say or how the process works.
It might feel strange talking to your insurer with no one on your side to answer important questions or to explain the process. But an insurance brokerage has agents that are trained in the claims process and are ready to help.
Switching Made Easy
Finally, if the above advantages were not enough to convince you to switch to an insurance broker, then consider how easy it is to switch insurers with a broker. To clarify, what I mean is that an insurance broker already has insurers it works with.
So when you want to see if there is a better option, just call your brokerage. They can find you a quote that beats your current policies price and may be able to offer you additional perks, such as roadside assistance.