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Why every business needs a commercial insurance broker

A commercial insurance agent/broker can be a real asset to any company. They can save you time and money, and it's no exaggeration to say they can help you avert potential catastrophe.

Despite their value, some businesses still decide to not utilize an insurance broker. In this blog, we’re going to briefly cover a common stereotype when people think of agents/brokers, followed by a discussion about how these brokers add tremendous value to your team and peace of mind to you.

As a broker, our job is to know your business - which in turn, enables us to develop the most cost effective solutions. We simply aren’t tied to one company to provide you best-fit coverage, we vet every company in the market.

Trends research and analysis

Learning never stops as an insurance broker. Keeping up with the latest news, developments and trends in the business and insurance worlds - doing the things you don’t have time to do - means we are aptly positioned to negotiate best-in-class solutions for our clients.

The cost of improper insurance can be tremendous. Our role is to make sure that the most vulnerable parts of your business are fortified. As a company, you don’t want to be investing in ‘off the shelf’ insurance plans. Treat a broker like a “fine comb” to run through plans to make sure they are built to serve you.

Proactive, not reactive

When do we think about insurance the most? Usually once a year, at renewal. So much can change in a year. What may be a great plan for you at the start of the policy period, may need to be amended six months later. The business world is ever-changing and the need for your broker to be constantly upgrading is a must.

Entirely new insurance products are also regularly coming to market. Many organizations don’t have the expertise to decipher whether a product would be of value or not - a broker does - and will advise appropriately.

Your Advocate

Brokers are your advocates. We adopt a win-win approach. Whether it’s procuring the most cost effective insurance program, or advising and advocating on your behalf with a claims situation, your insurance broker will be there to provide expertise and support for you.

Our success is defined by the success of our clients.

The blueprint of an insurance broker

Now that you have some insight into the value a broker can bring, you may want to consider hiring one to manage the risks you face. We hope this blog has provided you with some insight into the blueprint of a great broker and can assist you as you look to protect your business.

 

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