Four questions to ask when searching for an insurance broker

Insurance broker

The right insurance broker for your business should extend beyond buying a policy. Your broker should ensure you're receiving exceptional service. Below are questions to help narrow down the right broker for you:

  1. With ever-evolving insurance products and complex business structures, it's critical that your broker not only has experience with your line of business, but understands it at a fundamental level. Your broker is your defense team when it comes to advising which insurance products you do and do not need, based on your unique exposure and liabilities. Would you insure your chartered yacht with a brokerage that has only dealt with personal watercraft policies?
  2. Ask about how the brokerage stays up to date with the latest changes in the industry and what kind of education and experience they require of their employees.
  3. One of the big draws of a brokerage is the access they have to numerous insurance providers. Having lots of competition allows for better premiums and products. Ask how many insurers your broker represents.
  4. Does your broker check in with you throughout the year or only when it's time for renewal? Do they reach out with new products or help identify gaps in protection? Are they available when you reach out to them and do they assist you through a claim?

A strong brokerage should have no trouble articulating their value proposition and service standards. Contact Best Buy Insurance to learn why we are the right brokerage for your business.