Why to Use an Insurance Broker
Whether you’re looking to insure your home, your car, your business, or almost anything else you can think of, an insurance broker can help guide you and advocate for your best interests. Having said that, some people may be unclear about the difference between an insurance broker, like those you’ll find at Oegema, Nicholson & Associates, and a corporate insurance agent.
Broker and Insurance Agent – What’s the Difference?
The differentiation is actually quite simple.
Brokers work for their customers to find the best options for them. They work
with several insurance companies, but not
for the insurance companies – they are independent, and essentially, shop around on behalf of their clients. They are paid a commission from the company they end up buying the insurance through — not you, the client — so there’s no extra incentive for them to favour one company over another, just incentive to find the best policy for their customers. An
insurance agent works for one particular insurance company, so they are not really there to work on behalf of their clients to find the best rates and options for their clients; instead, they’re working on behalf of their company to sell their company’s insurance.
Why to Use an Insurance Broker
Here are some reasons that many people prefer dealing with a broker to dealing with a specific insurance company.
Relationships & Trust. As brokers, we take the time to get to know our customers on a personal level, and make every effort to understand their unique, individual needs. You can always put your trust in a licensed insurance broker, and know that they have your best interests in mind with any recommendations they make.
Knowledge & Options. Insurance brokers are licensed professionals who have devoted years to learning their industry and have extensive education. They are there to guide you through the process of purchasing insurance, while providing advice and recommendations towards what best suits your needs. They also have access to many insurers in Canada that do not sell directly to the public. Their unique combination of information and knowledge, familiarity, and connectedness allow them to be big assets for their clients.
It’s nice having someone on your side. Think of your insurance broker as your advocate. If the time comes to make a claim for you, they will do everything in their power, using their contacts and know-how, to get you your payment.
It’s easy and doesn’t cost you any extra. Because the insurance companies know that a broker has done their due diligence and is unlikely to
under-insure a client (as individuals might be more likely to do for themselves), brokers are often offered lowered premiums on behalf of their client.
Count on Oegema, Nicholson & Associates for your insurance needs in Ottawa and Eastern Ontario. Our many years of industry experience are built on a foundation of trust and relationships — both with our clients, and the insurance companies. That gives us an advantage when negotiating your insurance policy, ensuring you get the coverage that you deserve, and nothing less.
Contact your local insurance broker for more information today. Thanks for reading, The ONA Team.
