The Benefits Of An Insurance Broker: Why You Should Work With A Broker

Insurance Broker Benefits 

Suppose you are looking for new types of insurance coverage or need some help and advice on revamping your existing coverage to suit your needs and lifestyle better. In that case, you may wonder if working with an insurance broker is right for you. Some great insurance broker benefits are worth considering before you decide. Check out these key benefits of using an insurance broker at Morison Insurance.  

What Is An Insurance Broker? 

An insurance broker is a professional who provides insurance to meet customers’ needs and provides professional advice and ongoing service whenever required. Brokers’ services are free and can save you time, money, and worry.  

One of insurance brokers’ most significant benefits is using their skills and knowledge to help customers get insurance that delivers excellent value and peace of mind protection. Insurance brokers find insurance for individuals, families, business owners, and organizations by getting quotes from numerous insurance companies. Insurance brokers can look after most of your insurance needs. Brokers sell all types of insurance—home, auto, recreational, seasonal home, business, farm, life insurance, and more.  

How Do Insurance Brokers Work? 

When you contact an insurance broker, the broker will ask what kind of insurance you are looking for and a series of questions to determine your insurance needs. The insurance broker will provide you with several competitive quotes and protection options from insurance companies across Ontario.  

Insurance brokers will help you assess your risk exposures and determine how to best  protect you. They will review insurance quotes, prices, and coverages with you. A significant insurance broker benefit is that working with a broker gets you insurance choices and professional guidance. You can then select the insurance policy that meets your needs and your budget.  

Another benefit of using an insurance broker is you will get continuous service. Insurance brokers provide ongoing service to their customers. If you want to make changes to your policy, report a claim, need additional insurance, need advice, or have questions, your insurance broker is available to help you promptly. Our insurance brokers go above and beyond in providing exceptional service to their clients.  

What Is The Difference Between An Insurance Broker And An Insurance Agent? 

There are insurance providers who are known as agents or direct writers. Some people assume they are the same as insurance brokers, but some key differences exist. Agents and direct writers are salespeople for one insurance company only. Their goals are entirely different from those of insurance brokers. An agent or direct-writer salesperson’s goal is to make a sale for the insurance company they work for. After a sale, these customers may not receive the same level of personal and prompt service received by customers of insurance brokers. Often, the companies that agents and direct salespeople represent will operate in a call centre environment. These can be impersonal behemoth companies.  

Another benefit of working with an insurance broker is the personal service they offer. This commitment to personal service is commonly related to the fact that insurance brokers often work in the communities where their customers live and work.  

What Are The Benefits Of Using An Insurance Broker? 

Insurance broker benefits include insurance protection, competitive prices, insurance for all of your needs, savings of time and money, ease of service, obtaining service your way, prompt and personal attention, having a trusted advisor, expertise and experience, assistance with insurance claims, and continuous care.  

There are many benefits of using an insurance broker; you will notice the advantage from the moment you contact us. Here are some key insurance broker benefits to remember so you can make the best-informed decision about your insurance.  

1. Insurance Protection 

Your risk protection is a primary focus of insurance brokers. Unlike insurance agents who are primarily focused on benefitting the insurance company they work for, insurance brokers prioritize ensuring you have the coverage types and coverage limits you need so you can have total peace of mind knowing you are protected against financial losses caused by the risks that are most relevant to you. We are experts in the business of risk, and we will create a unique risk profile to help you get the insurance that suits your lifestyle. Your protection is our goal.  

2. Competitive Rates 

Insurance brokers deliver excellent value for your insurance dollar. One benefit of using an insurance broker is that we shop insurance companies across Canada and broker-only markets to get you insurance for your needs and budget. This ensures you get a wide range of premium rates and coverage options. You get choices. You select the protection you want.  

You won’t get to choose from various insurance quotes if you use an agent or direct insurance salesperson. An agent or direct salesperson works for one company only. Having an insurance professional who can collect quotes from multiple companies and get you a reasonable rate on the right insurance coverage is a clear insurance broker benefit.  

3. Insurance For All Of Your Needs 

Brokers provide a wide range of insurance options, which is yet another insurance broker benefit. They can provide car insurance, home insurance, recreational insurance, business insurance, farm insurance, seasonal insurance, life insurance, and more. At Morison Insurance, we offer a full suite of insurance products for you.  

The benefits of using an insurance broker include the increased ease of working with one insurance professional for all of your insurance needs. You can also save money when the same company insures several policies.  

4. Savings Of Time And Money 

Insurance brokers know insurance and have industry-specific expertise. We also know that insurance can be time-consuming and expensive. A key insurance broker benefit is that we focus on promptly helping you get the insurance protection you need and want. We also help you get every home insurance discount and auto insurance discount that is available to you. Discounts can mean substantial savings. We work for you to save you time and money.  

5. Ease And Speed Of Service 

When you contact an insurance broker, you get speedy service and a commitment to make the insurance process easy. Our experienced professionals provide easy-to-understand explanations of coverages and avoid confusing insurance jargon and policy terms. We help our customers get through the sometimes complicated insurance experience, including insurance claims, with ease and speed.  

6. Service Your Way 

We provide personalized service the way you want it, and that’s a huge insurance broker benefit. We offer services in-person, on the phone, by email, and by text messaging. We love to see our customers, but life is busy, and you may want to use other technology for your insurance service. At our brokerage, our customers select how they want to be served. We deliver expert guidance and service your way.  

7. Prompt And Personal Attention 

Have you recently been in contact with one of your service providers, such as a telecom company or a bank? You may have noticed being put on hold immediately with a frustrating, repetitive message trying to assure you that you are a valued customer and call volumes are higher than normal yet again, and someone will be with you… eventually, when someone finally answers, they are a complete stranger, not knowing you, your situation or your history every time you call. You are not alone if this type of service makes you feel unappreciated and undervalued or just another number to these big corporations instead of a truly valued client.  

A benefit of using an insurance broker is that the experience is entirely different. We are proud of our prompt and personal service. Each time a customer contacts us with a claim, a question, an insurance change or a new insurance need, the customer is served personally and promptly.  

8. A Trusted Advisor, Not A Salesperson 

Insurance brokers are experts in the insurance market who take the time to build solid relationships with our clients. We know how to secure insurance to meet your needs.  

Here is how it works: We represent numerous insurance companies with an excellent reputation, and we allow all of these insurance companies to compete for your business. Every company offers different coverages and different prices, and a significant insurance broker benefit is that we can offer you impartial recommendations. We help you assess the quotes and advise you if we think one quote has an attractive low price but not enough coverage for your lifestyle. Remember: A low price can seem great at the time of purchase, but an uninsured loss can cost you much more than the modest cost of additional insurance protection. Example: The cost of insuring your basement is much less than having to pay for extensive water damage.  

We are insurance advisors with in-depth knowledge, not salespeople. Your protection is our goal, and that’s a key insurance broker benefit. We won’t push you into buying insurance that doesn’t meet your lifestyle and budget.  

9. Expertise And Experience 

When it comes to insurance, you need an insurance expert’s help.  

Insurance brokers are educated professionals licensed by the Registered Insurance Brokers Association of Ontario. We also frequently take professional courses to maintain and grow our insurance skills. Our team wants to ensure we are always following the most up-to-date best practices and are knowledgeable about new insurance innovations and products so our clients can benefit from our extensive knowledge. Brokers know insurance, and we are here to help.  

10. Your Interests Are Paramount 

Because we represent numerous insurance companies, we consider it a huge insurance broker benefit that we are not obligated to sell the products of any one specific insurance company. We do not work for insurance companies; we work for our clients. We are independent. Brokers work in insurance brokerages that are often independent and family owned. Our loyalty is to our customers. It is all about you.  

11. Assistance With Claims 

Making a claim can be stressful. We also want to know when things will be fixed. An insurance broker knows the insurance claims process and will help you navigate the sometimes complicated claims resolution process with objective advice. We will work on your behalf, communicate with the insurance company, and help resolve things as quickly as possible, which certainly qualifies as a benefit of using an insurance broker. We are pleased to help.  

12. Continuous Care 

Sometimes, when you buy insurance, you don’t hear from the company again until it’s policy renewal time. This is not how insurance brokers operate, and that brings us to another insurance broker benefit. We build customer relationships through our commitment to ongoing care and service. Expect us to assist whenever you need it. We reach out to you with information and tips about insurance. We are your insurance partners.  

Examples of The Benefits Of Using An Insurance Broker 

When it comes to insurance, there isn’t a one-size-fits-all solution. That’s why a major insurance broker benefit is the expertise and attention of a qualified professional who is focused on your needs. Here are some scenarios that illustrate the benefits of using an insurance broker.  

Scenario #1:  

You are a homeowner. You just renovated your basement. It’s perfect. That is, it WAS perfect until you came home one day to experience extensive water damage. Everything in the basement is ruined. What do you do?  

You contact your insurance broker. You receive critical advice prior to proceeding with a claim. The broker helps you to get the claim started. The insurance broker will work with the insurance company to help settle the claim fairly and quickly. You are not alone. You have help from your insurance broker.  

Scenario #2:  

Someone breaks into your home. Your expensive jewellery is stolen. What do you do?  

You contact your insurance broker. Fortunately, when you bought your home insurance from your broker, you talked about the value of your jewellery. You were advised to purchase enough insurance to cover your jewellery to its value. Without this extra coverage, your jewellery claim would be limited to a standard and far lower amount of coverage. The insurance broker helps you complete the claim as quickly as possible.  

Scenario #3:  

You have a car accident. People are injured. The property is damaged. What do you do?  

You contact your insurance broker. Ontario law requires that you have third-party liability coverage, which protects you if someone is injured or killed or property is damaged. Ontario law requires that you have a minimum of $200,000 in third-party liability. When you buy your auto insurance, your insurance broker advises you to have more liability coverage than the minimum—many brokers advise $2 million in liability coverage. The extra coverage costs a bit more, but it’s well worth it when you think of the very high cost of liability claims and settlements following bodily injuries and damages from auto accidents.  

Why Should I Use an Insurance Broker? 

You should use an insurance broker to protect yourself and your belongings. Get competitive insurance prices, coverage options, expert advice, and personal ongoing service when you use an insurance broker. An insurance broker will help you to protect what matters to you. We offer insurance protection for your home, auto, recreational items, business, farm, and more.  

What Makes a Good Insurance Broker? 

A good insurance broker cares. We care about our customers and their insurance protection. Our goal is the best insurance and service for each person we serve. We will save you money whenever possible and offer insurance help whenever you need us.  

How Can I Find An Insurance Broker? 

The best way to find an insurance broker and get all the insurance broker benefits listed above is to look online and compare things, including their online reputation, suite of insurance products, the broker or brokerage values, and the professionalism of their website.  

• Look for an insurance broker with great online reviews. Check Google, Facebook, and other review platforms.  
• Look at the insurance broker’s website.  
• Make sure the broker provides the insurance you are looking for. This is preferred if a broker can look after all your personal and/or business insurance needs. Using one broker makes it easier to manage your insurance. You can also save money by having several policies—your home and car or your home, car, and business, for example—with the same company.  
• Does the broker or brokerage have a good reputation? Have they been in business for a while? Have customers and others recognized them for their products and services? The broker’s website and online reviews will provide information on these topics.  
• What are the broker’s or brokerage values? Is the brokerage family-owned?  
• What are their business values? Do they give back to the community through sponsorships and donations? The website is also useful when you are looking for this information.  

Benefits Of Using An Insurance Broker At Morison Insurance 

Our Morison Insurance team provides each customer with every advantage of working with an insurance broker. We have been provincially and nationally recognized as award winners in the insurance industry.  

Our customers regularly recognize our team for providing outstanding service and insurance products with their online reviews on Google, Facebook, and other platforms. Our website also includes customer testimonials.  

Our goal, every day, is to provide the very best to every Morison Insurance customer. Enjoy every benefit of using an insurance broker when you are a Morison Insurance customer. We look forward to serving you.