Whether you’re shopping for home insurance, condo insurance or tenant insurance, making sure you have the best possible coverage for the best possible price is always of top concern. That’s where the difference between working with an insurance broker vs. a direct insurance writer comes in. There are some key differences between the two that could affect your finances.
In this post, we will go over the difference between insurance brokers and direct writers. We will also list some benefits of choosing to work with an insurance broker.
When you work with an insurance broker, the broker will work with several different insurance companies for you on your behalf. You’ll have access to several different possible quotes to compare- while dealing only with your own personal broker.
Typically, you will be able to meet with the same broker each year for your renewals, and may be able to meet with them face to face.
If you’re required to contact your insurance provider directly, then you are dealing with a direct insurance writer. Since they represent their own company, direct insurance writers will only provide you with quotes for their own products. If you want to compare quotes, you will have to do further research on your own.
With a direct writer you may often deal with a call center and a different representative every time.
Benefits of Working with Insurance Brokers
When it comes to insurance, working with brokers has many benefits.
#1: Access to Different Companies and Quotes
One of the main benefits of working with an insurance broker is that they will be able to access many different insurance companies to get quotes for you. This will allow you more options and you can shop for the best insurance coverage that fits your needs. This is much quicker and easier than contacting several different insurance companies directly yourself.
#2: Working For You, Not The Insurance Company
Because insurance brokers are not biased towards any specific insurance company, their main concern is to lay out different quotes and options for you to consider. Brokers work for you, not any specific insurance company.
#3: Conversations Are Confidential
Insurance brokers can offer less biased advice when it comes to submitting a claim. If something happens, you can provide your insurance broker with all the info without having to worry about a claim being automatically submitted or required. You may not want to start a claim in specific situations, and a broker can offer you advice while keeping your information private and away from the insurance company.
#4: More Personal, Deal With The Same Person
Another benefit of working with insurance brokers is that you will usually deal with the same representative each time you have questions or need help. This allows you to build a better relationship with your insurance representative. You may even be able to meet your insurance broker face-to-face, further allowing you to build a personal relationship.
#5: There is No Rush
Do you ever feel rushed when you contact your insurance company directly? You will never feel that way when dealing with insurance brokers, because insurance brokers are not “on a timer” as opposed to many direct writers.
Get Free Quotes Now!
Are you interested in quickly comparing insurance quotes from a variety of companies with a personal insurance broker? Contact the Harbord team today! Our insurance brokers are happy to help answer any questions you may, and we can provide you with some free & quick quotes to consider too.