What Do Insurance Brokers Actually Do?

If insurance companies sell policies, what do the insurance brokers do? A lot more than you may imagine. It’s an insurance broker’s job to find you the best insurance policy for your needs. And unlike an insurance company, the broker is working for you and your bottom line, not the other way around. This is a good thing because finding the right policy takes research, analysis, and a decent understanding of insurance and legal jargon. Thankfully, insurance brokers handle this all for you and then some. To learn more about how an insurance broker can help you find the best deal, read on.

Research The Market

Brokers spend a majority of their time researching the market for the best insurance rates and deals (which means they track the market daily so you don’t have to). Through detailed analysis and industry-leading software, they can quickly find out what each and every insurance company is offering and what policies are better than others. And to help serve you better, they’ll find all the discounts so you can get the best price.

Present You With Options

When you visit an insurance agency, they’ll only be showing you options from their own company. They won’t show you how those options fair up against their competitors because they want you to do business with them. An insurance broker, on the other hand, will provide you with all the options for coverage that are available to you, show you how those options compare, and provide advice on what policies are best suited to your lifestyle. It’s their job to find you the best policies for your needs.

Customize Packages

Insurance brokers also customize and create special coverage packages that satisfy all their clients’ needs. This includes putting together different plans from a number of insurance companies so your policy will be easy to understand and manage.

Address Payment Issues

When you deal with an insurance broker, you get support even after you’ve signed your policy. If there are any payment issues, they will contact you directly and can also talk to the insurance company on your behalf.

Help You File Claims

They will even assist you during the claims process, and monitor claims to ensure payment is received. They will also look at all the paperwork to confirm it has been completed lawfully and by the policy requirements. And if you experience a dispute with your insurance provider, your broker will step in and act as your advocate to help you settle on the terms that are best for you.

Now that you understand what insurance brokers actually do, it’s time to decide which broker is right for you. Having a reliable insurance broker on your side is the only way to guarantee that you get the most suitable policy for your needs. At Rowat Insurance, we provide tailored support and trust-worthy advice to provide you with the best rates and coverages. Contact us today to find out how we can help!

Rowat Insurance

Insuring Ontario and Quebec since 1955. Trust Rowat Insurance Brokers to look after your home, auto, business and life insurance needs. We always guarantee fast, friendly service and highly competitive premiums. As brokers, we are entirely independent from Insurers and Financial Institutions; we will work with you to analyze and advise on risk, and customize the coverage that is right for you.