Insurance broker: Undoubtedly the next best option

Necessity is the mother of invention as they always say. Everything starts with a need. There was a time when our needs were simple. Food, clothing and shelter were the only necessities for early men. These were their basic needs. But as you see, as time changes, so does the sophistication of man. We have evolved in such a way that we now have needs that do not only address our basic needs as people but also attend to the needs of our things, assets and even people under our jurisdiction. It is but rational for man to intelligently think of all his needs and how to satisfy them.

An ideal example of a necessity that resolves needs as such would be insurance. Insurance basically solves the need of an individual to protect himself and his interests such as all his pets, assets, businesses, employees, dealings, family and loved ones. Since we cannot always eliminate the risks that we undertake in our everyday lives, their reduction is the objective and main reason for insurance. With insurance, it is important for an individual to have trust in an insurance provider that automatically results in our own peace of mind and security. But what kind of trust are we talking about here? It is a kind of trust that an individual’s assets, for whatever unexpected reason that something unfortunate might happen to them, may be replaced, repaired, restored and also compensated for.

You now may be pondering how you would know which insurance provider is worth trusting. First of all, you may get feedback from friends or relatives on their experiences with their insurance providers. This is due to the fact that they have the first-hand experience of how satisfied they are with the services of a particular insurance company. Secondly, you may check the current list of the top insurance companies. After all, people would not be patronizing them if they did not live up to their clients’ needs and expectations. Lastly, you may choose to seek assistance from an insurance brokerage firm. But why go to a broker instead of dealing straight with the insurance company, you might ask. It is a common misconception that the presence of a middleman in any transaction would make you pay higher and may even put you in a risk of getting ripped off. But unfortunately for the insurance industry, this is not the case. To begin with, an insurance broker does all the legwork for both the client and the insurance company. The broker mainly handles all the paperwork for any insurance requirement. It is through the broker that the process to get and claim from insurance becomes faster and easier. And since value for money is the number one concern of people today, brokerage firms ordinarily give big discounts if not lower premiums than ordinary agents from insurance companies. And why is this so? It is due to the fact that brokerages handle large captive accounts, which mean that they basically bring in bigger business to insurance companies than any other entity in the industry which makes them the number one marketing leg for insurance companies. They get premiums at a discount because of the bulk of business that they carry. Also, the best service that they offer is that they manage all your risks to make them suitable and customized to your needs. This means that they can create packages to make your insurance more cost-effective for you. It is through them that we get a fair assessment of the whole insurance industry by means of the insider information that they provide, giving us the pros and cons of the entire range of products that an insurance company offers. In other words, we can grasp the whole picture with the full knowledge of how to approach and manage our risks on our own. And because of that, we can decide and evaluate intelligently for ourselves, giving us all the more the power to make a decision. And since insurance is all about security of our assets and the protection of our loved ones, now we can feel and have that peace of mind, knowing that we made a well-assessed decision in finding the best insurance package and provider to protect and secure ourselves, our family and our assets.

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Richard V. Isidro is the senior sales officer of Yapster e-Insurance. E-mail him at [email protected].