6 Reasons to use a Local Insurance Broker

  by Daniel C. Lewis

Investing in insurance coverage is one of the most important purchases you will make for your family and business.  Since no two people are alike, to receive the most return on your insurance investment, shopping for this valuable protection involves a process of evaluation, research, and comparison.  Working with an insurance broker is just one way you can make the shopping and selection process easier and help you avoid unnecessary costs and time.

So why use an insurance broker?  Here are seven (6) reasons to use an insurance broker.

1.  It is a FREE consultative service.  There is a myth that using a local insurance broker would cause consumers more money than just going direct to insurance companies.  A local insurance broker in your area can be an invaluable asset to you, your family, and your business.  In fact, broker pricing is often much better than direct insurance pricing.  Insurance companies often provide lower rates because brokers are professionally trained to accurately assess risk and to help their customers choose a policy or insurance package that adequately insures them. A regulated insurance broker will not charge you to search the market and find the best insurance options for your needs.

2.  Local Insurance Brokers are experts in Insurance.  Insurance brokers are required each year to complete training in all the products they offer.  This training is very intensive.  Insurance brokers are there to help explain the terminology, the complexities, the small print, and the details to you.  Insurance brokers are there to point out any risk and work hard to understand your needs.  Working with an insurance broker means you have an insurance expert helping you through the process.

3.  Local Insurance Brokers save you time.  Insurance brokers work for you, not for the insurance companies.  They are focus on getting you the right coverage that fits your needs.  The best possible may not be the cheapest or the most expensive.  Being underinsured as well as overinsured is a big issue when it comes to insurance and one that only reveals itself at the point that you need to make a claim.  Working with an insurance broker can give you the right amount of coverage for the right monthly premium.

4.  Support during the insurance claims process.  When I first started working as an insurance broker I had some clients that would use my services research, evaluate and compare various different insurance products.  After putting the work in on evaluating their needs, researching various insurance companies, and developing comparison reports for my clients, a few of the clients went direct with the insurance carrier.  Those clients discovered that when they had claims or questions about their policies the clients ran into long phone wait times, insurance websites they did not understand, and other issues.  Using a local insurance broker can work as a support to answer some of the basic questions during the process of making a claim.  

5.  Shopping around for insurance using a broker is just smart.  Using a local insurance broker makes the process less hectic and smoother.  Brokers usually offer in-person, online as well as phone service, and generally are more proactive about engaging the customer to find out what their needs are.

6.  Local Insurance Brokers give back to your local market.  Local insurance brokers help your local community economy.  They are more likely to sponsor a local little league team in your community.  Working with your local insurance broker also demonstrates a certain type of pride in your community.   By patronizing a local insurance broker instead of filling out a form on the internet or calling an 800 number we contribute to helping a local business stay in business.  

Indiana Specialty Benefits is a team of local licensed insurance agents that focus on solutions for individuals and small businesses.  We create custom solutions for our clients and together we find the best coverage for their specific needs and budget.  Every day, we help people make important healthcare decisions through our multi-carrier portfolio.  We make insurance simple.  To setup a free consultation with the author, Daniel C. Lewis, click here