Like many consumers, you may have multiple insurance needs, from home to automobile, business and more. You almost always start your insurance search on the Internet, as you do with any other service. With the convenience of the internet, you can get can easily purchase a policy or get a quote without even speaking to anyone.
However, if you are not an expert when it comes to insurance, you may not get the perfect mix of the best policy at the most affordable price. Which may result in a bigger financial burden on your part. A time of need is not the right moment to find out your insurance policy is lacking.
You can purchase insurance online, but before you travel down that path alone, consider getting the help of a broker. Why a broker? There are several good reasons. If you search for an insurance broker in Toronto, to find answers, you’ll probably come up with more results than you care to sift through. To make the search easier on you, we’ve put together some objective information to help you through the process.
These professionals have the credentials to successfully advise clients on types of insurance or risk management products based on individual circumstances.
Brokers assist with working through the maze of insurance options and and negotiate terms and prices with insurance companies for the chosen policy. They explain terminology and properly break down the terms and conditions of a policy so the clients understand what coverage they will receive. An insurance broker works with you and for you. In other words, think of a broker as your personal champion when it comes to insurance.
Working with an insurance broker in Toronto may be the best way to fully identify your insurance risks and get the type of coverage for managing the risks at hand. Additionally, a good broker can make the insurance search process faster and easier. Here are other reasons why you need a broker, according to Insurance Brokers Association of Canada:
Making an informed decision about insurance requires knowledge. Working with a broker makes the learning curve that much shorter.
As with finding any other suitable professional service provider, making sure the insurance broker in the Greater Toronto Area you choose is qualified for the job is high on the list. One way to verify qualifications to make sure the broker meets any licensing or registration requirements by the governing body in your area.
Licensing or registration typically requires an educational component that must be met. Checking with your province or state territory is one way to verify that your broker of choice has proper credentials. You can also ask the broker for proof of credentials. In fact, they are several other questions you might want to ask. This includes the following:
Answers to these questions help confirm qualifications. But don’t forget the people side of the equation. You should always work with a company with the appropriate communication skills such as prompt responsiveness to your needs.
Finding the right insurance broker in the GTA means you will have someone on your side who is familiar with the greater Toronto area along with the governing rules and regulations. This means you will be working with a broker that adheres to a code of conduct that keeps your interest front and center. Remember, the broker’s goal is to get the best insurance coverage at the most affordable price point possible.
That being said, you should expect the broker to ask pointed questions to gain a deeper understanding of your specific needs. Be prepared to provide information that paints an accurate picture of your situation to aid the process.
One thing you should not expect is to be hit with broker fees. According to the Government of Canada, licensed brokers do not charge fees as they are compensated by the insurers.
Now that you understand what a broker does and why you might need one, you are probably pondering your next step – luckily, it’s simple and does not take much time. If you want to make an informed decision about the type of insurance that is right for you, start with one of our qualified insurance brokers.
Our brokers have vast knowledge about the current insurance market and the range of policies and risk management products available. Whether you are a homeowner or business owner, our team is capable of providing advice and securing appropriate products at your ideal price point.
It is our mission to help you find the insurance you need for your home, car or business. If you want to find out more about our insurance brokers, simply contact us today and we’ll provide the answers you need.
What are the benefits of using an insurance broker?
Insurance is no game. When assessing your business insurance needs and acquiring insurance coverage, you need an expert in your corner. An experienced, objective guide that can walk you through every aspect of your business insurance needs, risks, and exposure. A broker has years of experience in the market and deep familiarity with insurance coverage plans. With access to many insurers, brokers can find your the best deals on the most competitive policies. They also help with claims and act as your advocate when needed.
Is it necessary to have a broker?
You’re not legally required to use an insurance broker when seeking out business insurance policies. You are free to try your luck with major insurance companies, making your case and asking for quotes. However, you probably want to avoid doing that unless you happen to be an expert in business insurance. An incorrectly sized policy, premium, or deductible can drain your business of crucial operative funds, or leave your assets exposed. A broker ensures you get exactly what you need, at the best possible price.
We always take the time to answer your questions. At BST we believe an educated customer is our best customer. Go ahead and ask those tough questions you have been afraid to ask your insurance company. That's what we are here for, we can answer those questions with impartial advice because we represent your interests not the insurance companys. Check out our Blog for some of the common questions we answer regularly.
