who-is-an-insurance-broker-and-what-do-they-do?-–-zehr-insurance-brokers-ltd.

Who is an Insurance Broker and What Do They Do? – Zehr Insurance Brokers Ltd.

Advantages of being with a Broker

Choice and Expertise of Insurance Options

The first and most obvious advantage to an insurance broker is that a broker has many insurance options to select from. Therefore an insurance broker can provide the consumer the best insurance product at the best price. Since a brokerage has access to many different companies your insurance portfolio can be placed through specialized insurers while maintaining one point of contact to represent your interests. For example, your home and car insurance may be with company A, but a boat can be with a specialized company that only insures boats, and then a classic car with a specialized company that only insures classic cars, life insurance with a life insurance company, etc. Knowledge of many different insurance products is required to be a successful broker and typically insurance brokerages have departments or specialized individuals that only deal with specialized product lines. For example, farm insurance, commercial/business insurance, and life/living benefits insurance. You may be a client of a brokerage but have your insurance portfolio spread over 3-4 different insurance companies to ensure you have the best coverage at the best price; yet you the consumer only work with one point of contact. Insurance can be a complicated product, so a specialized professional is advantageous for the consumer.

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