Having car insurance is a crucial step towards getting your finances in order, and protecting yourself in the event of an accident.
However, if you don’t know what to look for on your own, you can easily end up with the wrong car insurance. Working with professional car insurance brokers can help you to find the policy that works for you.
Read on to learn more about the process of working with these brokers.
What Do Car Insurance Brokers Do?
In a nutshell, a car insurance broker helps you or your business to sort through several different companies and offers when it comes to auto insurance.
They help you to find the policy that suits your current needs, and they often negotiate on your behalf to help you to get lower premium payments.
Usually, these offers and negotiations are based on business relationships that the brokers have established with insurance companies. Because of this relationship (also known as an “appointment”) these brokers can provide you with the policy you need.
These brokers get a reasonable commission whenever the clients they work with make a purchase. Generally, this percentage is anywhere from 8%-15%.
To make sure your agent isn’t taking more than their fair share, always ask about their commission rates.
Additionally, you may be charged a fee for their service. Again, always make sure to get that fee in writing.
Why You Should Work With a Broker
Obviously, the number one benefit of working with a broker is the time it saves you.
Especially if you’re looking for auto insurance for your business, you likely won’t have enough hours in the day to compare multiple offers and then negotiate lower premiums and better coverage.
When you’re on your own, you’re much more likely to end up paying more than you need to or simply get coverage that doesn’t suit your needs.
When you work with a broker, you only need to fill out a single application, which is then submitted to multiple insurance agencies.
Though naysayers might point to the convenience of comparing rates online, the reality is that a computer can’t negotiate on your behalf. While these comparison websites might help you to get a better idea of the kinds of coverage you need and how much you’re willing to pay, they can’t replace a professional.
Brokers have contacts in the industry, which will help you get a better rate now, and more importantly, secure that rate for the future.
You can be sure you get all your questions answered in person, so you avoid any unwanted surprises and costs down the road.
Ready to Connect with Top Car Insurance Brokers?
Thanks to this post, you now know what to look for when it comes to finding qualified car insurance brokers.
You’re also familiar with the benefits of doing so.