Why do SME's need an Insurance Broker?
In the current digital age the ease of researching and purchasing insurance online can be a convenient option for many business owners. However, is this really the best option when choosing insurance policies to protect your Business assets and against potential liability issues?
There are a range of products and insurers available and evaluating the options can be extremely complex. Especially if your occupation or needs aren’t a one-size-fits-all.
Here are my five reasons to why you should speak to a professional insurance broker about your insurance program.
1 - Personalised Service
When you insure direct with the insurer you have to make all enquiries through a call centre or via email and will likely get a different person every time. With a broker, you receive one-on-one service from start to finish and have a range of contact methods available - face-to-face meetings, phone calls and emails.
2 - Professional Advice
Because you will have a relationship with your broker or broking team, you'll receive professional advice from a qualified insurance professional who will have the knowledge and experience to gain a full understanding of what you do and what you need. This is probably not something you would get when dealing with a call centre.
3 - Research
Your broker will look at your circumstances, help you to assess your risk and advise what policies are right for you. This not only saves you time in doing the leg work yourself but can reduce worry around the process of buying insurance. Brokers also generally know which insurers are good in certain sectors and are performing well in claims.
4 - Alternative Markets
Insurance Brokers have relationships and on-going professional development opportunities with a wide variety of Insurers and Underwriting Agencies. This means they can access alternative products and benefits that you would not receive direct from an insurer.
5 - Claims assistance
The time you realise the true value of having an Insurance Broker is when the worst happens and you experience a loss. It can be the small inconveniences that add up to a painful experience, or it can be a major loss that is made less challenging knowing there is someone who knows how to navigate the process and can take much of the load off your shoulders. From lodging the claim to negotiating settlement, your broker won’t stop working for you until your claim is finalised.
When you work with an insurance broker you develop a valuable relationship with your account manager, service team and claims team. They will take the time to understand and care about you, your business and your needs and this creates a trusting relationship and peace of mind for you. It also means transacting insurance business becomes easier and less time consuming.
This article originally appeared on Ally Williamson Articles and has been published here with permission.
Advisr does not provide advice and does not hold a financial service license (AFSL). All information above has been provided by Ally Williamson.