Having an Auto Insurance Broker by your side while buying a policy can be the difference between spending hundreds of dollars on insurance or keeping your premium rates low. While the internet has made it easier to find quotes online and buy a policy, it can cost you a lot more time and money, especially if you are unaware of your exact needs and requirements.
Think of your auto insurance broker as a grocery store, where you get to choose from a wide range of food brands. So instead of your local store that offers only one brand of cereal, you can now choose from an entire rack! Plus, your grocery store also has many discounts and promotions, while your local store will ask you to pay the full price.
The main difference between an auto insurance broker and a company is the unlimited choice. Your broker has the ability and contacts to get you the best possible coverage based on your needs, at the best possible price. We bring you the top 5 ways in which a broker can save you money:
1. They Have an Immense Knowledge About Discount Options
As insurance brokers work with a number of companies, they are well-aware of what discounts are available and for whom. In case you need urgent insurance at a low-cost, these discounts can make a big difference.
2. They Can Warn You About Rising Insurance Prices
Brokers have direct access to a lot of information related to your insurance including agreement changes, ticket drops and various other factors that may affect your premium rates. If anything changes in the market, they will inform you immediately so that you can take the appropriate action under their guidance. This can save you from any unanticipated insurance price rises.
3. Brokers Have Access to Multiple Insurance Companies
Many times, customers only choose a company that they have seen on TV or in a newspaper ad. However, the truth is, while big companies are able to spend millions of dollars on advertising, small companies also offer equally good policies. You may not know about these and here, a broker can be a great asset. They can advise you on the best local companies in Alberta which might offer better deals than the big players.
4. You Can Avoid the Coverage You Don’t Need
When looking for a good insurance, you will have multiple questions regarding the terms and coverage mentioned in the policy. Hiring an insurance broker is one of the best ways to know the exact details of the policy and make sure you aren’t paying any extra money for coverage you don’t need. While a company will push you to take maximum coverage to make more money, an insurance broker works from your side and will understand your requirements before guiding on the right plans.
5. Assistance and Savings During Claims
In the unforeseen event of an accident, an insurance broker will offer complete end to end support and help you right from filing the claims to getting your money from the company. He will advise you on the right steps to report all the losses incurred and to document your case correctly. With an educated broker by your side, you have a better chance of getting all the money you are entitled to, and thus, prevent any additional losses.
A licensed insurance broker knows his business in and out and will go out of his way to bring you the right policy from a plethora of options. Plus, you will only have to give out all your information once, as opposed to when you search for insurance on various different websites. You can be assured that your broker will keep your best interest at heart and help you save hundreds of dollars and lots of time!