The Broker Advantage
(Thank you to the IBAC.ca for providing the video)
An Insurance broker acts as your personal advisor on insurance matters. They work for you, not the insurance company, to make sure your family; your possessions and your business are properly protected. If you have the misfortune of a loss your insurance broker will guide you through the claims process, helping to ensure a swift and fair settlement by your insurance company, to get you back to where you were before disaster struck.
These days there are many different ways to buy insurance, but there are good reasons to consider using an insurance broker’s expertise to help you make the best-informed decisions. A study recent asked consumers what was important to them when considering an Insurance Company.
- Peace of mind that everything is covered.
- Security of personal data.
Contrary to popular consumer belief we found that insurance broker pricing was actually better than direct insurance pricing.
The reason for this seems to be principally due to insurers providing different rates to insurance brokers, in order that premiums are lower. Why would insurers provide special broker pricing? Simple: because the risk is lower for the insurer. Brokers are professionally trained to choose the right policy for their customers, and not to under insure, therefore avoiding unnecessary claims while maintaining the correct premium income.
While the online experience sometime proved more pleasant than the phone, most brokers offer an online service, and were far, far more pro-active after they received the initial quote request from the consumer, often answering queries by personal email or call and helping to reassure customers with a human service.
In the case of the time taken to generate initial quotation figures, direct services (online) were consistently very quick, while some brokers answered quote requests by personal follow up. The difference was reversed when it came to making changes, documentation requests and one off queries. The direct insurance services often fell back to large call centres whose staff had little or no real insurance knowledge. In this areas brokers were more efficient, making suggestions our consumers found highly useful, saving them lots of time.
4. Peace of mind that everything is covered
Brokers are far more efficient at cross checking policies than consumers, and also very good at educating their customers, explaining what types of cover were available and answering queries. Large Insurance Companies focus on the consumer to do this work himself/herself.
5. Security of personal data
The general online consensus of distrust of long complicated forms has created a backlash against online quotes. Brokers, being far better equipped to deal with specific insurance questions and used to a human discussion, give people a stronger feeling that they were in safe hands. The process of securing personal data was much the same as with direct, but the trust conveyed by brokers was better.
Whether you need personal, commercial, construction, or specialized insurance coverage, count on our team. At Acumen Insurance Group, we aim to meet your unique needs and offer professional advice on the best insurance for you. Your best insurance is an insurance broker. For over 30 years, we have been working with families, communities and businesses to provide protection and advice at the best rates possible. Your best insurance to find the proper protection at a fair price, and help in the event of any future claims. Call us at 905-574-7000 today!