Relying on an insurance broker helps you make sense of your options. Here is a breakdown of an insurance broker and the benefits of having one on your side.
The sea of options you have to choose from in the insurance industry can be overwhelming. It can be hard to know which is the right option. Fortunately, relying on an insurance broker helps you make sense of your many available options. Here is a breakdown of an insurance broker and the benefits of having one on your side.
What is an Insurance Broker?
An insurance broker helps individuals and companies find the right insurance for themselves, their homes, businesses, and families. Insurance brokers know more than insurance policies. Their training and expertise focus on different types of insurance and risk management. A broker works for you and not a specific company.
The duties of a broker typically include the following tasks:
- Listening and understanding your insurance coverage requirements
- Searching the insurance marketplace to find a suitable policy that meets those requirements
- Offering objective, impartial advice on the coverage that will best fit your needs and budget
- Helping you clearly and honestly understand your plan, including the coverage and exclusions.
- Breaking down the costs of your policy
- Providing clear information and documentation and assisting you with paperwork to ensure there isn’t a delay in your coverage
- Helping you prepare claims and get speedy, fair, and efficient service from the insurance company
The Benefits of Hiring an Insurance Broker
Life is much easier when you have an insurance broker on your side. Here are the advantages of partnering with a broker.
Objectivity
Once again, brokers do not work for insurance companies. They will always have your best interest at heart and only show you options that best serve you. Brokers can help you avoid many risks by using technology to cross-compare different policies and quotes. You won’t have to know all there is to know about insurance. Instead, you’ll be able to trust that your broker offered you the best plans based on your lifestyle, needs, and budget.
A Wide Range of Options
When you choose an insurance agent vs. a broker, an insurance agent will only be able to show you their company’s options. However, going this direct route doesn’t always mean that you’ll pick the best or most cost-effective option. When you work with a broker, you’ll have more options and spend less time searching for the perfect plan, while your premiums will be lower or comparable. The more insurance policy options you have, the more in control you are.
Also, an insurance broker can look for specialty markets. For example, not all insurance companies offer pet insurance or executive benefits such as business overhead insurance, alternative vehicle retirements, or key person life insurance. However, our representatives can help you find unique options while rounding out your entire benefits package.
Less Insurance Shopping Fatigue
Let’s be honest. Shopping for insurance can be tiring, especially when you’re trying to compare different plans. Most sites have that “get a quote” feature. Then, you have to wait for a representative to call or email. Even if a site takes you to the quote directly, you can still spend over an hour, if not days comparing different policies. Make your life easier by reaching out to our brokers today.
Partner with Malden Solutions Today
Malden Solutions has a wealth of expertise in providing employer insurance solutions, HR solutions, and individual insurance solutions to businesses both big and small. Our team of seasoned professionals can help you navigate the rapidly-changing world of insurance with ease. We partner with businesses and individuals throughout the country to provide our dedicated services for employee benefits but also work within our surrounding communities in Maryland, Northern Virginia, and Washington, D.C. Contact us today to learn more about how we can provide effective, dynamic solutions for your business. Stay connected with us on Twitter, Facebook, and Linkedin.