Benefits of using an Insurance Broker

When looking for an insurance product, make it a habit to compare available options in the market to ensure you're getting the best coverage at the best rate. That's where an insurance broker comes in.?

Insurance brokers scan the market on your behalf to help you find the coverage that best suits your needs. An insurance broker also acts as your advocate with insurance companies, politicians, and provincial regulators.?

What are the benefits of using an insurance broker?

1. Get advice from an experienced professional

The insurance broker has the mandate to provide you with personalized support by advising you on the coverage options that are best suited to your needs. Contrary to what an insurance agent would do by basing their recommendations and experiences limited to their own company’s products, a broker compares a range of products and services from several insurance partners. A broker, therefore, has a larger knowledge base of product options and member experiences to draw from when advising you.

2. Save on your insurance rates

A broker works with several insurance partners to find the best deal on insurance coverage that’s right for you. They will assess your personal needs and make impartial recommendations that serve your interests – not the interests of the insurance providers. Additionally, since your insurance brokerage will have relationships with several insurance partners, they can negotiate competitive group rates and add applicable discounts.?

3. Protect yourself from dishonest conduct

All insurance brokers in Ontario are licensed by the Registered Insurance Brokers of Ontario. This institution regulates the licensing, continuing education, professional competence, ethical conduct, and insurance-related financial obligations of all insurance brokers in the province. Working with a broker allows you to feel confident that you will be treated fairly and that your broker will always represent your best interests.?

4. Receive faster claims payouts

Your Insurance Broker will help you through the process in the event of a claim or a loss. They will be there to answer any questions that come up and, more importantly, to serve as your advocate in ensuring that the payout you receive is fair and timely.?

Should you have any insurance needs, reach out to Octagon Insurance Brokers Limited in Kenya, the email is [email protected], website https://www.octagonafrica.com/, or reach out to me, and get to realize and enjoy the benefits of working with an insurance broker firsthand.

Guaranteed Financial Security!