Insurance is not an optional purchase – not one that you can take a lot of time to consider or simply decide not to make. It is a kind of protection against unknown emergencies –those that can bring a homeowner or company to their knees in an instant. Many people rush out to find the most publicized, well advertised insurance companies – searching for the cheapest rate possible. While this can keep some money in the bank, it may not give your family or your business the best coverage, or the best service. Insurance Brokers on the other hand may be a wiser option; especially for those who are first time insurance buyers or for smaller corporations.
When most people purchase insurance through a company, they are promised lower rates, better service and consistent payment reductions due to “good behavior”. This is especially true for auto insurance and motorcycle insurance. But the sad reality is, unless a change comes down the pipes that will affect all insured clients, this will probably not happen. Customers have to be ever-vigilant over their policies and hound agents and companies to lower their rates. Brokers on the other hand, have a more personal relationship with their clients, and because of this their clients often benefit from better service and more comprehensive knowledge about the insurance industry as a whole.
Also stemming from this friendlier relationship is the ability to have a policy that’s tailored specifically for you. Insurance brokers are committed to finding the best options for their customers – it’s their purpose. (That’s not to say that brokers aren’t out to make cash –they need to eat too. ) It’s true, independent brokers usually charge an admin fee on top of the rates. Larger insurance companies can often promise rates so low potential clients get so impressed they sign on the dotted line without a second thought… but at what cost? Some of the policies are so specific your home, vehicle or company wouldn’t stand a chance recovering any losses.
The lower rates of larger companies can also lead people to believe that they have an advocate in their agent. Unfortunately, agents tend to be more experienced with the administrative side of policies and the insurance industry, rather than looking for the best options for their clients; while brokers are required to have a license which generally means they have more education and experience. Brokers will ensure that your home insurance, auto or commercial insurance policies are thorough and correct.
If ever you have to file a claim through your agency (which most of us have to do eventually) you may find that dealing with the people at the “National Office” or the call centre employees just doesn’t cut it. An insurance broker, on the other hand, lives right in your city, maybe even your community, and has the time to sit down and make sure you are taken care of with compassion and speed.
Yes, there are advantages to a large insurance company or an agent employed by one: you’ll be promised a dirt cheap rate, and you just may be fortunate enough to qualify for one. But you’ll never reach the same person twice, and probably never figure out what is covered by your policy exactly. An insurance broker is there to be in your corner and to make sure that your back is covered, without exception.
Established in 1936, Sadler Insurance is a full service independent www.sadlerin.com for more information today.
