When looking for an Insurance Broker to work with, you will want to find a broker that will best suit your needs, give you the most personalized service, find the best prices and plans, offer education, and make you feel confident and comfortable with your insurance policies.
When beginning to look for an Insurance Broker to work with, knowing what to look for, what to avoid, and which questions to ask can be an overwhelming process. We want to make this process easier for you, so you can be comfortable with your decision when selecting an Insurance Broker to work with. Continue reading to find out how you can be sure you have chosen the best Insurance Broker for you.
Should You Work with an Insurance Agent or an Insurance Broker?
An Insurance Broker will work directly with clients by searching for the best insurance policies and deals from a large list of insurance companies. An Insurance Agent tends to work for one specific insurance company, so they have limited access to the available insurance plans that are best suited for your needs.
What To Look for When Choosing an Insurance Broker
It will be in your best interest to find an Insurance Broker that works with a brokerage that has many locations. Insurance rates are filed geographically, so location matters!
Numerous insurance companies or brokerages still require you to call during their business hours and wait on hold just to get a quote that could simply be given to you online. It’s much easier and more efficient to use an Insurance Broker or Insurance Brokerage that allows you to receive online quotes at the time that is most convenient for you. Working with your Insurance Broker should be an easy and convenient process.
A Wide Range of Insurance Companies
As we mentioned above, one of the best parts about using an Insurance Broker rather than an Insurance Agent is their ability to pull policies from multiple different insurance companies to find the best policy suited for your needs. Some Insurance brokers and brokerages excel at this and have more relationships within the industry. Try to choose an Insurance Broker who works for an independent brokerage and that has a wide range of insurance companies to work with to ensure you are getting the best possible deals.
Different Insurance Types Offered
The type of insurance offered is also an important factor to look for when choosing an Insurance Broke or brokerage. Does the Insurance Broker only handle home insurance, or do they have insurance for multiple different facets such as auto, home, life, business, motorcycle, and boat? Conducting your research and finding an Insurance Broker who deals with all of the above will help you spend less time searching for insurance policies and allow you to leave it in the hands of your trusted Insurance Broker. You may also be able to save money by bundling your insurance policies, for example, many people bundle their auto and tenant insurance policies to save money.
Years in Business
Working with an Insurance Broker who has been in the business for many years and is established in the industry will benefit you. Their years of experience will have taught them things that Insurance Brokers new to the industry may not have learned or experienced yet. If an Insurance Broker has been successful in the industry for a long time, it also speaks to their ability to deliver excellent customer service and build lasting client relationships. An experienced Insurance Broker will also have established processes and procedures that have been proven successful over many years.
Education should be something the Insurance Broker you choose to work with can offer to you. You will want to work with an Insurance Broker who will take the time to explain the terms and definitions of the industry and the in and outs of your policy with you. It is a good idea to look for an Insurance Broker who has online educational resources that you can easily access and learn from at your convenience.
What Questions Should I Be Asking?
Once you have found an Insurance Broker you believe is right for you, you can ask them questions to ensure they are truly the best fit and will offer you the best service. Some of the possible questions you may want to inquire about include:
How Long Have You Been In Business?
Discovering the broker’s history, how well they have cultivated relationships in the industry, and how much experience they have can help you decide if you can put your trust in your Insurance Broker.
What Are Your Qualifications?
This is one of the most important questions you can ask an Insurance Broker before becoming their client! Be sure they are qualified and up to date on the industry so you will receive the most knowledgeable and accurate information.
Can You Offer References From Clients?
Not only do you want your Insurance Broker to have a history in the business, but you also want to make sure they have been building strong client relations so you can be confident they will offer you the best service and policies.
How Often Will We Be In Contact?
Every Insurance Broker is different, meaning they handle their clients differently. Be sure to understand what kind of contact you and your Insurance Broker will be in. You may also want to ask how quickly they respond on average, so you know what to expect once you become their client. If you ever need to make a claim, your Insurance Broker will be walking you through the process, so you want to make sure to work with someone that will be available and present if you need them.
At Youngs Insurance Brokers Inc., we have been offering insurance with integrity, for over 100 years. We are proud to be one of the largest independent brokerages in Ontario, with 30 locations across Ontario. We have partnerships with over 27 insurance companies and are committed to working to find the right policy and price for every client.
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Disclaimer: The information provided on this blog is for educational purposes only and is not intended as professional insurance advice. The coverage, terms, and conditions of each insurance policy are unique and subject to individual circumstances. The information provided does not guarantee the availability or suitability of any insurance policy for your specific needs. You should not rely on the information in the blog as an alternative to professional advice from your insurance broker or insurance company. If you have any specific questions about any insurance matter, please consult a licensed insurance broker for personalized advice and guidance.