Questions to Ask Your Insurance Broker Event

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Questions to Ask Your Insurance Broker

On the surface, it may seem like there is not much difference between one insurance policy and the next, but as you start to explore the many different insurance companies and policy options, it can quickly become confusing. Having a good rapport and being able to discuss these things with your insurance broker is one of the best ways that you can sift through all the information that is out there in order to determine the right policies for you.

Here are a few questions that you should ask your insurance broker next time you are getting new, reviewing, or considering changing your insurance.

Which insurance companies do you represent?

Insurance brokers represent multiple insurance companies, and this allows them the ability to shop around on your behalf, and compare rates and options in order to help get you the best possible policy to suit your needs.

Your insurance broker does not have to represent every insurance company under the sun, but they should have a good variety in their portfolio to best serve you.

What are ways I can reduce my insurance cost without sacrificing important coverage?

Although price shouldn’t be your only consideration when it comes to insurance coverage, you still don’t want to pay more than you have to.  Insurance brokers know the tricks of the trade to help you save money – for example, most home and auto policies are less expensive if they are bundled together and you may be able to save on your car insurance if you use winter tires.

Your insurance broker will be happy to work with you to find additional savings!

Is there any additional coverage you recommend which are absent from my current policy?

If it has been a while since you last reviewed your policy, you may not have sufficient coverage to protect your property. For example, perhaps you have purchased a boat, put up a shed in the backyard or have done some renovations which have increased the value of your home. Any of these could warrant additional coverage.

Talk to your insurance broker to ensure that you are covered for your valuable property.

When I call your office, will I be served by a team of representatives (i.e. Call Center) or will I always be dealing with you?

Not all insurance brokerages operate the same way. If you prefer to work with the same person when you have questions about your policy or when you have a problem, then you want to make sure that that is how your broker does business.

Taking price out of the equation, which insurer & coverage would you recommend?

While we all want to get the best possible price on insurance, this should not be your main consideration in choosing your insurer and coverage. Other factors to consider are the insurer’s reputation; unique options that they offer that you might not be able to get with other insurers; and quality of service when you need to make a claim.

Remember that everyone’s insurance needs are different, and your broker should take your needs into account when recommending an insurer and coverage.

Contact ICD Insurance today

Do you have questions about your insurance policies? Our brokers would be happy to assist you. Contact us today to speak with a member of our team.