6 Benefits of Using an Insurance Broker

Insurance protects what we care about, but finding the right policy can be stressful, given the wide array of policies and insurance jargon. Everyone’s needs, assets, and risks are different, which is why businesses and individuals may work with an insurance broker to find effective, tailored options.

If you’re interested in working with an insurance broker to protect your assets and mitigate risk, you’re not alone. More and more Kiwis are realising the advantages that insurance brokers can provide. Discover six benefits of using an insurance broker for individuals and businesses below.

What do Insurance Brokers Do?

Insurance brokers are specialists who advise individuals and businesses on what insurance they should get and how to manage it. They serve you. They have access to the insurance market and the range of services available, ensuring they present the best options. This differs from an insurance agent, who works on behalf of one or more specific insurance companies.

Benefit 1: Everyone’s Needs are Different

When it comes to insurance, one size certainly does not fit all. There are different types of insurance, including but not limited to:

• Personal insurance
• Business insurance
• Aviation insurance

For every case, there are differences in the assets, the risks, and the priorities of the individual or the business, therefore altering the insurance needed. No individual or business is the same. The benefit of using an insurance broker is that they recognise this and seek insurance coverage customised to you. Additionally, your insurance needs might change over time as your business evolves. Insurance brokers maintain an ongoing relationship with clients to ensure that policy changes are updated accordingly.

Benefit 2: Insurance made Streamlined and Simple

Save valuable time and relieve anxiety by working with an insurance broker. You shouldn’t lose sleep worrying about whether your selected insurance adequately protects you. An insurance broker does that work for you; they assess your needs and then scan the options available to help you find the best one. Trust an expert insurance broker to look after this side of you or your business so you can focus on the important things that matter to you.

Benefit 3: Insurance Brokers are Experts

Insurance brokers are experts in understanding insurance companies and policies and assessing your needs. Insurance jargon can cause customers grief, especially when it comes time to make a claim. Brokers speak this jargon fluently—they understand what this means for you and ensure you are covered. Having an experienced insurance broker by your side is beneficial.

Benefit 4: Insurance Brokers Present the Best of Many Options

Insurance brokers are beneficial because they access various insurers and diverse policies to find the best fit for you. They may present you with various options, each explained to you, to make the best choice for your insurance. This practice differs from scanning a website, perhaps being understandably confused by some policy language, and choosing from a small selection rather than the best one. Insurance brokers work with the insurance market to ensure the best policy for you.

Benefit 5: Insurance Brokers are on Your Side

Insurance brokers have the skills to negotiate with insurance companies to ensure the best policy for you. They are also immensely helpful if you need to make a claim. They understand your policy, the event, and the insurance jargon and can advocate for you. Lastly, insurance brokers teach you, in the process, about your policy and how insurance works. Insurance brokers can help you feel more empowered and knowledgeable regarding your insurance coverage.

Benefit 6: Insurance Brokers are Cost-Effective

Investing in an insurance broker can help you save money in the long run.

Insurance Brokers:

1. Help you find the most cost-effective policy for you.
2. Ensure you are covered should an unfortunate event occur.
3. Facilitate a claim and help with compensation.

The potential alternative is to find a less cost-effective insurance policy that does not cover a claim you might need to make.

Trust the Experts: Choose Greenlight Insurance Brokers

Insurance is as tricky as it is essential. The team at Greenlight Insurance Brokers understands this. With over 300 years of collective experience, our team of NZ insurance brokers provides tailored insurance solutions, specialising in comprehensive risk management for individuals and businesses in New Zealand. We spend time understanding your specific needs and then tailor an insurance policy to meet these needs, protecting assets and mitigating risks. We maintain an ongoing relationship to keep your insurance policy updated and effective. Contact us today to discuss your insurance needs.