The old line about the inevitability of death and taxes is true, but it also leaves out one of the most complicated and necessary factors of everyday American life: insurance. From personal health, home, and auto insurance, to the dozens of types of business insurance, we are all faced with the necessity of making decisions. We have to go through choosing a multitude of insurance plans which keep us covered without blowing our monthly budget.
And choosing the right insurance plan matters. Too little coverage can leave you exposed to unexpected and sometimes devastating costs, while too much coverage – yes, there is such a thing – can be a waste of money and can inhibit your ability to grow wealth over time. Knowing whether a plan is too little, too much, or just right isn’t easy, especially for those more focused on building their lives than poring over cost analysis charts.
That’s why more and more Americans are turning to the guidance of professional insurance brokers. Put simply; an insurance broker is an expert whose sole responsibility is to find you the best insurance plan for your needs. They are independent, representing you, not the insurance companies, and they have the freedom to price and represent multiple agencies. A broker’s model of success is fitting the right plan to the right client.
Here are the Top 4 Reasons You Should Use an Insurance Broker:
1. Brokers Represent You
It can’t be stated enough: insurance brokers represent their clients, not the insurance agencies. An honest and professional insurance brokerage will use every resource it has to negotiate with insurance companies and custom develop a plan which is specific to your individual needs, whether you’re focused on a particular budget or type of coverage. Brokers are also in a position to offer unique plans or products which you cannot access on the open market through any particular insurance company.
2. Experience and Industry Knowledge
We’re in this business, so we’ll be honest about it: insurance is complicated! By design! Insurance companies draft plans which are notoriously difficult to understand in order to take advantage of fine print exclusions and minimize their risk, all at the cost of the policyholder. An insurance broker is an experienced insurance professional in your corner. Someone who knows the legalese and can see through the trappings of a poorly drawn insurance plan. An insurance brokerage worth its salt, like Arthur Blake Insurance, will draft your plan down to its smallest detail to ensure that it’s written with your coverage and protection in mind. No surprises!
3. They Can Save You Money
Your average American doesn’t want to spend their time researching insurance plans and trying to negotiate with carriers. They know that hiring an independent agent from a trusted brokerage will spare them enormous stress and time. But … they don’t want to pay for it. And we get that. The insurance companies themselves often push the virtue of “going direct” and avoiding paying commission to a middle man.
However, purchasing your plan through a brokerage can often save money in the long run, even with your broker’s commission. This is because brokers have access to lower pricing models than “off the shelf” plans the average consumer can get by going direct. A good brokerage will maintain a positive relationship with the carriers it recommends, and the carrier will trust the broker to make honest and accurate assessments of its clients, thus lowering the overall risk of the plan. In the end, you get the same or better coverage at lower premiums, all because you worked with a broker in good standing with the experience to back up their recommendations.
4. Calm in the Storm
Stress, frustration, and even anger are common emotions when it comes to purchasing insurance. The stakes are high, and it can be easy to feel written off by large insurance companies that view you as a collection of risk factors and not a person. As your advocate, your insurance broker can serve as your calm in the storm. An insurance broker can assess the options dispassionately and present them to your clearly. They take the time to discuss every plan in whatever detail you need, patiently and openly, and they can save you the stress of long phone calls with customer service agents. An insurance agent is someone on your side, with your best interests in mind, when sometimes tough decisions have to be made.
Discover the difference between working with a trusted independent insurance brokerage yourself. Arthur Blake Insurance in Plano, Dallas, and Frisco, Texas, has nearly 2 decades of experience helping our clients find the very best plans and solutions to their personal and commercial insurance needs. Visit us today!