Guest Post by: Sean Mooney, Mooney Insurance Brokers
Life insurance, auto insurance and homeowner’s insurance, let’s be honest… insurance can be downright boring and confusing. All the terms and coverages and conditions that go into a policy…. who has the time or attention span to sort through all of this? Well, the good news is that you can totally bypass all of the insurance lingo and easily obtain great coverage, an affordable policy, and an advocate that can be there when you need them. Today I would like to introduce you to the insurance broker.
Have You Called an Insurance Broker?
An insurance broker can provide you with unbiased expertise and knowledge that you won’t find anywhere else. They can be there for you through each step along your insurance process including signing up for, changing, or eliminating insurance plans from your household. Brokers are not tethered to a singular insurance company but rather represent multiple companies to find the absolute best value for their clients. Think of it as the Trivago for insurance. When booking a trip, you don’t just check one hotel or one airline or one rental car company. It’s always easiest to go to the site that can check all of the prices for you so that you know you’re getting a great deal. Here’s a list of key ways in insurance broker can help you get the right insurance for your needs.
One Stop Shopping
Before you even obtain an insurance policy, you’ll need to shop around to find out which company serves your needs appropriately. Working with a broker allows you to compare and contrast insurance companies against your standing policies and risks. Then, they’ll evaluate which companies offer the best support and claims service for your situation. Brokers also have access to specialist underwriters that aren’t available to the public. These underwriters know the ins and outs of how to cover special items like scheduled jewelry and vacant properties or even investment properties you plan on flipping.
Technical Expertise
You need to find an insurance broker who is familiar with your area and the type of insurance you are shopping for. Consumers don’t realize that all companies offer different types of auto and home policies and just assume that they are all the same. But they are not and a broker has the insider intelligence to point out the differences.
Predicting, Managing, and Reducing Risks
Finding the right insurance, regardless of what type, can be quite tedious and lengthy depending on your needs. A good broker can help you select a company based on your individual risks and how they’re managed. He or she can predict this based on comparisons of similar situations and your overall risk evaluations. All consumers have different risk appetites and the educated broker can evaluate all of your risks and find the best plan to satisfy all of your needs.
Accurate Valuations
Of course, you want to make sure your home, business or car is insured to a sufficient value. It can be difficult to accurately assess the real value of your assets. You’ll have to consider the structure and/or the contents within, individually. With a broker on hand, you can rest assured that these valuations are accurate and concise. An accurate valuation on your belongings can be the difference between getting everything back in the event of a disaster or starting over from scratch.
Advocacy
When you have to make a claim, you don’t want to be waiting forever to receive payment or follow-up from a claims representative through the process. A broker will be there for you through each step of a dispute and act as an advocate for you against the insurance company. Your broker will have the knowledge and skill required to negotiate the terms of the situation with ease. They can ensure prompt payment or find a quick resolution when delays arise. In this same context, feel free to contact your broker with questions or concerns pertaining to your policies and claims and documents. Your broker can lend a hand of expertise in providing you with details from the insurance company that you may not be familiar with.
Assistance With Claims
Filing an insurance claim can become a nightmare if you don’t know what you’re doing. A good broker will be able to navigate the claims process for you and guide you through each step. There’s a lot of small print associated with insurance forms and it can be easy to overlook. Your broker will know these details and can explain them to you so that you make the most educated decisions according to your claim.
Remember that your broker is a licensed professional that handles these claims on a daily basis. They are trained to deal with the insurance companies through their overall experience and network connections.
And what will this type of service cost you? Nothing. Not nothing in terms of nothing but rather nothing more than you would pay any other insurance company. You pay your premiums and the insurance company pays the broker a commission for placing the coverage with them. So, in a sense, you get all these added services for free.
We are happy to welcome Sean Mooney from Mooney Insurance Brokers to help us out with his expertise on this article. Having experts share their knowledge is another way PlumTree Financial Planning brings you 3600 of financial education and guidance.
After ten years of working in a sales and service capacity for the two largest national property and casualty carriers, Sean decided to open an independent brokerage in order to offer clients a superior level of service along with a variety of choices to meet their needs. As a full-service brokerage, MIB is totally equipped to handle all your insurance needs and will provide a level of service that is second to none. Contact Sean:
