Black Friday has come and gone. While this year, I was nestled all snug in my bed; I must admit I am usually one of the lunatics out there trying to save a few bucks- me and the rest of the population. It’s that deep seeded drive to be competitive, find the best deal, the need to conquer that Target that eventually forces us up in the middle of the night. Being an insurance broker is a little bit of the same thing; Find that coverage, where’s the best deal, who does it best?
While every day on the job isn’t as extreme as Black Friday, there is always an element of that competitive frenzy. Insurance lingo is confusing enough as is. Let’s start with the basics. What is a broker? In insurance, the broker is essentially the middleman. We are usually agencies that have contracts with various companies and our job is to get the job done. What’s the benefit of using a broker? Contrary to popular belief, going direct is usually not the best way to save money or time. In a broker’s market, I could have up to 6 or 7 markets available that are all offering me exclusive pricing and packages. That’s possible because the likelihood of loss to happen is far less. Brokers are professionally trained to choose the right policy and not underinsure therefore avoiding unnecessary claims while maintaining a premium within your budget. It isn’t just about money though. Time is a huge element. If I’m quoting with 6 or 7 companies, usually the first two will get my bid and we’ll negotiate from there. Sometimes insurance needs don’t have time to wait a few days. It is beneficial to the consumer that we not waste your time, or even our own. Not just that, but when your insurance company has sent you a questionable billing statement that looks to be in the amount of your entire mortgage, it’s nice to be able to pass it off to someone that has a relationship with that company and can get to the bottom of the problem.
There are many benefits to using a broker, but nothing compares to peace of mind. When you know your world as you know it is safe and can sleep soundly on that, we know that we’ve done our job. If you have questions regarding your insurance, ECI is always here. Contact us for a free Oklahoma City insurance quote.