Even as insurance experts, we can admit: purchasing insurance is not what one would call an “exciting” way to spend their time. We know that insurance is a necessity for many aspects of life, such as owning and driving a vehicle, but that doesn’t make the process of buying it any less of a chore.
If you’ve ever thought, “there must be an easier way…” Well, there is! An insurance broker is an expert in insurance who serves as an intermediary between you (i.e. the potential policyholder) and the insurance company. In this article, we want to let you in on all the best reasons why policyholders might choose to work with an insurance broker, what the advantages of an insurance broker can be, and how having one can make your life just a little bit easier.
The Role of an Insurance Broker
What does an insurance broker do, exactly? Acting as an intermediary is an abridged way of saying an insurance broker behaves almost as your spokesperson when purchasing insurance. Not only do they help you purchase it by obtaining numerous quotes and presenting you with various options to choose from, but they narrow down your options by getting to know you and finding something more curated to your needs. If you had a 30+ year old antique car, for example, an insurance broker would know that no typical car insurance policy would be sufficient. They would, instead, work towards finding you a policy curated for classic cars. And that’s just one example of how an insurance broker can help customize an insurance policy for you.
Beyond that, an insurance broker, once you’ve purchased your policy, will give you advice throughout the life of that policy. They may recommend endorsements, reach out to you before your annual renewal, and help negotiate on your behalf if you ever make a claim. They’re your insurance resource, so if you’re ever confused you can go to them for help!
Why Work with an Insurance Broker?
There are so many reasons why working with an insurance broker can greatly enhance your “insurance experience.” Getting insurance and being certain you’ve selected the right budget-friendly option, is an arduous process. Sure, it can be done alone, but an insurance broker is generally paid a small percentage of your premium to help you get better insurance – faster. Here are some of the main benefits of working with an insurance broker.
Numerous Options
When you shop for insurance on your lonesome, you may find one, two, or three quotes to your liking. An insurance broker, with their many network connections, can find you dozens of quotes that all match your insurance needs and will find you the most affordable option. They present numerous options to allow you to pick and choose which quote is best for your needs.
Better Prices
This ties in with the first point, but it boils down to having more options. A broker can get you better prices because they have in-depth knowledge of the product, ways to save, and can help you find eligible discounts. Plus, thanks to all the competitive markets they have access to, they can help you find a quote from multiple top carriers.
Insurance Expertise
An insurance broker has insurance experience, and depending on the product you are looking to buy, they may even have niche experience! An insurance broker is a licensed individual who has gone through rigorous training to become a broker, and as such has the in-depth industry knowledge that you may need to make the best decisions. They are your resource that you can turn to whenever you need advice, or if you need something in your policy straightened out for you.
Prioritizing You
If all the reasons above aren’t reason enough to go with an insurance broker, then know that an insurance broker’s priority is always you. Where an insurance agent may represent the insurer, negotiating on their behalf, a broker has your best interests in heart and won’t prioritize any one insurer over another. Their goal is to get you the best, most customized policy, and they’ll treat each of the insurance companies that they represent equally when they search through to find you a solution.
LMBF: Brokers With 50+ Years of Experience
From our initial inception, we here at LMBF can accredit our success to choosing a team of hard-working bold people, with a strong sense of integrity. We value sound judgement, customer service, and putting the right foot forward in the name of innovation. When you’re looking for a broker who can help meet your needs better, consider LMBF.
What’s more is that LMBF has partnered with some of Quebec’s top insurance carriers, meaning that not only do we have access to numerous competitive quotes, but our quotes come from some of the best around. If you’re having trouble understanding “insurance speak,” our brokers can help. Start with an insurance quote today.
