Don’t Forget the Broker

As we discuss the ins and outs of home insurance and auto insurance, it can be easy to lose sight of the critical role that an insurance broker plays in the process. Your insurance broker or agent will represent you to several different home and auto insurance companies so that you can get the right coverage at the right price. What are the advantages of hiring a quality insurance broker or agent? Read on to find the answer.

First, an insurance broker will help explain the different kinds of insurance available to you. Understanding the legal contracts and other documents provided by an insurer to its customers is not always a simple matter, for the legal language and unfamiliar terms can confuse us about the precise kind of insurance coverage that we have purchased. Licensed insurance brokers, however, are experts in the reading and analysis of these documents, and they can explain in easy-to-understand language the ins and outs of your insurance policy.

The second advantage of hiring a licensed insurance broker is the potential savings that you can enjoy on your home or car insurance. Today it is easy to buy directly from insurance companies, but if you only consult one company, you do not know if you are getting the very best deal on your insurance. Insurance brokers will contact several companies to get competing bids on insurance for you, and they know which insurance companies tend to offer the best coverage at the lowest rates.

It may be that your insurance broker will receive a small commission for these services, but it is well worth it to you in light of the greater savings you can receive on insurance. So the next time you are shopping for car or home insurance, do not forget the licensed insurance broker.