Buying insurance is easy.
Buying the right insurance is much harder.
Getting it wrong can cost you big time.
Working with an insurance broker to make decision about your company insurance plans is the best way to get exactly what you need and nothing you don’t. It’s one of the few areas in life where having a middle man really pays off, here’s 10 reasons why.
#1: Insurance brokers work for you
Brokers are independent agents that work with several insurance companies, but don’t work for any of them. This is significant because it means they aren’t working for the insurance company, they are working for YOU. They represent several companies and a wide range of plans, pricing, bundles, and policies, but their main focus is honing in on your needs first, and then finding a policy to match.
#2. Brokers know the market
Because they work with a range of carriers and companies, insurance brokers know the market very well. They’ll know if a carrier has the right combination of offerings for you or if there’s another option that will save you money for the same coverage.
#3: It’s cost effective
You will pay the same price for insurance purchased through a broker or through a captive agent (someone who represents a single insurance company). In fact, sometimes brokers may have access to preferred pricing and can get you a better price. Either way, using a broker will almost always save you money in the long run because they may know about plans you hadn’t considered and they handle all of the negotiations and gritty details.
#4: They keep things simple
Using an insurance broker significantly simplifies the process for both you and the insurance company. The brokers know the ins and outs of insurance and can get you the best coverage, for the best price, and make it easy. They can save you hours of research and streamline the transactions.
#5: Client advocacy for claims
The only thing worse than researching insurance policies is dealing with an insurance claim. Good news! Insurance brokers help with that too. They don’t just sign you up and leave you on your own, they become your advocate through any claim situation you may have
#6: Your human resources extension
If you’re running a small business or startup, the human resource needs can be overwhelming. An insurance broker acts as an extension of your human resources team as a company partner. They are there to answer questions for employees, install the plan, help with enrollment, explain benefits, etc.
#7: They’ve got insider information
We don’t have the crystal ball, but we come close. We have insider information that is nearly impossible to find anywhere else like which companies deny more claims than others. Who has great customer service? Who won’t increase your rates ever year? We know about the companies behind the coverage so you can be sure you’ve got the best of the best.
#8. Make sure you’re compliant
Choosing a plan is hard enough, but then you’ve got federal, state, and local health insurance laws and regulations to consider as well. An insurance broker understands these requirements and makes sure you fully comply to avoid costly fees.
#9. Renewal is now a breeze
Now you don’t have to dread renewal season because you’ve got that taken care of. Your insurance broker will make sure that you’re covered without drowning in paperwork or risk a lapse in coverage.
Perhaps the biggest benefits of hiring an insurance broker is simplicity. You get the best policy at the best price for home, travel, car, and even life insurance. Even if you choose different companies, they all come from one place, and one single, portfolio that is tailored to you and your need.
Hiring an insurance broker isn’t just for large companies, it’s available for any small business or even individuals. Outsource your headaches to an expert in the industry who can get the job done quicker, without sacrificing the quality. If you’re shopping for insurance, give us a call to save time and ensure the best possible outcome for your employees.