One of the areas in which people often overspend each and every year is in the area of home, life and auto insurance. Why is this? There are two main reasons. One is that many people have been with the same company for years on end and simply don’t think about the fact that there may be better insurance options available; others simply don’t want to take the time to get quotes from the many different insurance companies available and make the switch.
Learning about your different insurance company options can be well worth the effort. Many people find themselves saving twenty to thirty percent or more on annual insurance costs when they take the time to shop around for what other insurance companies have to offer. Therein lies part of the problem: finding the time to do the comparison shopping.
There is a solution to this problem, however, and that solution lies in finding a reputable insurance broker.
What is An Insurance Broker?
The short answer is that an insurance broker represents multiple insurance companies instead of just one insurance company. They work with a state-of-the-art computer system that helps gather insurance rate information from many companies so that their clients know what insurance options are available to them.
How can an insurance broker save you time and money? Consider these five benefits:
Brokers Are Able to Quickly Compile a List of the Best Insurers in Your Area
With a few clicks of their computer, insurance brokers have access to a list of the best insurance companies in your area. Different insurance companies may have different rates for your area because there are less losses recorded in that area, so knowing which insurance companies are most popular in your area is important.
Using a Broker Means You Give Your Information Out Once Instead of Multiple Times
Part of the reason people are hesitant to shop around for insurance is because they dread the process of giving their needed coverage and personal information to several different insurance companies. By using an insurance broker, it’s a “one call and you’re done” process that will save you an abundance of time.
Brokers Have Access to Insurance Companies You May Not Have Heard Of
Often times people know about the biggest insurance companies thanks to big marketing budgets, whereas smaller insurance companies that are just as good (and sometimes even better) go unnoticed because they don’t spend billions per year on marketing. Insurance brokers have an expansive database that includes all companies that insure in your area – not just the big players.
Brokers Can Give You a List of Each Company and Their Rates with One Phone Call
Instead of calling each available company in your area for their rates on home, auto and life insurance, using an insurance broker means you’ll have an instant list of all of the benefits and rates of available insurance companies with just one phone call, saving you lots of time and making comparison shopping much easier.
Insurance Brokers Get Paid by Insurance Companies, Not by Clients
Insurance brokers get paid by whichever insurance company a client chooses, which means there’s no cost to you for using an insurance broker. It also means that it doesn’t matter to the broker which insurance company you choose, so you can focus on choosing the insurance company that best fits your individual insurance needs without worrying about being “sold to” by the broker.
If you’re interested in finding out how much you can save on annual auto, home and life insurance each year, contact a reputable insurance broker near you.
This article was provided by Desert Mountain Insurance, a premier insurance broker serving businesses, medical practices and individuals in Arizona, California, Colorado and Nevada.
Photo Credit: Denys Nevozhai usage rights per Creative Commons Zero