An insurance broker is a team of experts who act as intermediaries between the client and the insurance companies to get the best coverage at the best price.
What Do You know About Insurance Brokerages?
When we talk about insurance, we all come to the memory of insurers. We let ourselves be carried away by the announcements or by recommendations from people close to us when we opt for one company or another without taking into account that there are other companies in the sector -as is the case of the brokerages- willing to offer us better conditions and, what more importantly, they cover the insurer’s gap: personalized attention, maintaining contact with the client to select at all times the coverages that he needs the most.
How Can An Insurance Broker Help Me?
An insurance broker is a company that is in direct contact with various insurers to know the coverage they offer. This knowledge of the sector allows the client to offer the best coverages at the best prices. The insured has the last decision to choose the company. The brokerage acts as a mere mediator and advisor, to help the client make the best decision, which affects their well-being and that of their family.
How Does the Insurance Broker Work?
The main advantage lies in its independence. The insurance broker maintains total impartiality. Their job is to know the coverages offered by the different insurance companies, to select the ones that best adapt to the needs of the client who requests it.
When the client goes to an insurance broker, the first thing he should know is their needs. From that moment, the mediator’s work begins, to look for the policies that best suit the client, both in terms of coverage and budget.
The mediator, or insurance broker, offers the client several alternatives so that he can make the decision. Once the contract is made, the insured is not alone because it is at that moment when the after-sales service begins.
Throughout the duration of the contract, the mediator will be the person to whom the policyholder is directed when an incident arises. Managing the procedures and defending the insured against the insurance company are its main tasks.
How Much Does an Insurance Broker Charge?
The insurance brokerage is a free service for the client since their income comes from commissions in courtage of the insurance company. That is, the brokerage receives a percentage with respect to the contracted policy, but this disbursement is only noticeable to the insurer, not to the client.
Is contracting a policy through the insurance broker more expensive than directly from insurance?
This belief is erroneous because brokers have the advantage of having different budgets and coverages of insurers. The brokerage, as an adviser, selects the best policies for him. This after-sales service, as well as the procedures that are carried out during the period of validity of the policy, does not imply an expense for the client.
Not only will the client not be affected by his pocket when contracting the policy, but he will be able to avail himself of discounts since the brokerages-when negotiating with an important portfolio of clients- obtain the best economic conditions. So, if you contract your policies through a brokerage, you will have the certainty that you are really paying for the services you need.