The Benefits of Using an Insurance Broker

Insurance made easier and more convenient.

Finding insurance that works best for your specific set of circumstances and needs can be a tall order. Have you ever shopped around for the best company to go with, the right policies to cover any eventuality, and a way to combine your different covers for the most cost-effective solution? If so, you’ll know how tricky it can be. Navigating this vast industry full of legalities is difficult for anyone who doesn’t work in the field.

Thankfully, no-one needs to undertake the search for insurance without expert help—that’s the role of brokers. A good insurance broker works independently from insurance companies and on behalf of their clients to find the best possible cover. With this comes an array of benefits, making using a broker the best option for any insurance seeker. We’ve laid them out below; read on to get an idea of what you could be missing out on when you go it alone!

The best cover
One of the primary objectives of an insurance broker is to arrange the best possible cover for clients, in order to meet their specific needs and ensure they can claim when needed most. By contrast, finding insurance on your own can easily result in either under or over insurance; neither of which is a desired outcome.

This is why many turn to brokers for guidance. Brokers are the experts in discovering what their clients really need, and accurately assessing risk to determine what’s worth the expense and what may be superfluous. Using a good broker therefore means you are getting both the best value and the right cover for your situation.

Expert advice from the professionals
An experienced broker is a wealth of knowledge and an invaluable asset for anyone in the market for insurance. The insurance industry is far-reaching and complex, presenting many pitfalls to the unsuspecting consumer. A broker can navigate those murky waters and come up with the very best options for each client. It’s no easy task, considering that each person, family, or organisation has unique needs for their insurance coverage. Great brokers will be able to assess risk and advise a client on which insurance types would be relevant and valuable.

Many insurance brokers specialise in a specific sector of the insurance industry or several related sectors. This allows them to provide even more specialised and targeted advice and guidance to clients. Just as you would do for any service provider, it’s important to find a broker that fits your requirements and to check their professional credentials—such as industry awards and affiliations with professional bodies like the Insurance Brokers Association of New Zealand.

An array of options
Most people seeking insurance will compare a few options from the bigger insurance companies—the most diligent may even check out four or five before making a decision. This can, however, be a tedious and confusing task for clients to undertake on their own; and they will not have access the same options as a broker. Brokers also have the knowledge required to sift through the possibilities efficiently, to find the ones that will work best for any situation. Experience and expertise mean that a broker can compare and consider far more possibilities than your average insurance-seeking joe!

While brokers do work with the big insurance companies, they may also have access to policies and insurers that are not well known to the public. This opens up the options beyond the obvious and is especially useful for anyone with unique insurance needs that may be better served by a lesser-known provider.

Time saved
As we mentioned in the previous section, finding the perfect insurance policy or policies is time-consuming and tedious. Using a broker vastly cuts down on hours spent finding and organising your insurance, as their job is to do the hard yards for you. For individuals and businesses alike, time is often money—and taking advantage of a broker saves both.

Convenience
The role of a broker goes beyond just finding the right insurance for a person, family, or business. They will also facilitate and manage the process of signing up for cover, as well as advocating on the clients’ behalf for any claims. Generally, making a claim through a broker is a much faster and easier experience than dealing directly with the insurance provider.

At the heart of it, an insurance broker’s job is to find their clients comprehensive insurance solutions that fit their needs and budget. Their expertise means they can hunt out the best and most affordable options to suit the situation, including those which might be difficult to find for those outside the industry. They also do the legwork, saving time and making the entire process much quicker and more convenient for their clients.

Primesure Insurance is a branch of Runacres Insurance, an award-winning team of brokers serving clients across New Zealand. As members of NZbrokers, the country’s largest insurance broking collective, we draw on a huge pool of experience while making the most of local knowledge to find the absolute best insurance solutions for our clients. We also support our communities through sponsorships of various sports teams and arts initiatives—people are important to us, and that’s why we do what we do.

Contact the Primesure team today for advice on business or personal insurance. We’d love to demonstrate the benefits of using an insurance broker with our friendly, professional service!

Blog Credits: Runacres Insurance