3 Common Myths About Insurance Brokers Debunked
by adminProtecting our homes, our businesses, our health, and our property are some of the main concerns that play on hard-working people’s minds from day to day.That’s why having insurance is essential in so many aspects of our lives. Keeping expenses at low cost, with maximum benefits, is the ideal situation, and this is where insurance brokers come in.
Unfortunately, there is a common misconception that hiring a broker will drive up the cost of finding the best insurance for your needs. This couldn’t be further from the truth, so read on for 3 of the biggest untruths about insurance brokers.
#1 It’s expensive
Many people think that hiring an insurance broker is an extra cost on top of the rest of their bills; just another middleman taking a cut. In fact, this is not true at all. For their clients, insurance brokers work for free; it’s the insurance company that gives them their payment. This makes them more flexible to shop around for the best insurance for each client’s situation, negotiating and providing the best options available.
#2. They work for insurance companies
Even though insurance brokers get paid by insurance companies for bringing your business to them, this doesn’t mean that they work for these companies. Your broker is a free entity who has all of the information and experience at their fingertips to find the best deal for your circumstances. No matter what company you decide to go with, they won’t be out of pocket, unless you opt to take your business away from them, meaning their only incentive is to get you the best deal possible.
#3. Brokers only organize specific kinds of insurance
There are so many different kinds of insurance available, whether it’s home, health, business, travel,or auto insurance –many brokers have experience with them all. Don’t hesitate to get in contact with a good brokerage for any of your insurance needs; they’ll definitely be able to help.