16 2020

If You’re not Already Using an Insurance Broker in Vancouver, You Should Be

by admin

There is a common misconception that brokers, including insurance brokers in Vancouver, are non-essential positions filled by people looking to make a buck off a service you can easily do on your own. However brokers, like insurance brokers in Vancouver, are not simply intermediaries looking to make a commission, they provide an essential service that only serves to benefit their clients – and that’s you, not the insurance companies. If you are not already working with an insurance broker, here is how their services could benefit you.

They are Licensed Advisors

Insurance brokers are licensed professionals who undergo extensive training and write an exam prior to receiving their licenses. In BC, insurance brokers are overseen by the IBABC (Insurance Brokers Association of British Columbia) and governed by the Insurance Council of British Columbia. As a client of an insurance broker in Vancouver, you can rest assured that your broker has received the proper training and your rights are protected by a governing body.

They Work for You

Contrary to popular belief, insurance brokers work for you, not the insurance companies. Rather than calling a single insurance provider to inquire about policies, and dealing with their in-house sale representatives, an insurance broker has access to hundreds of policy options offered through dozens of companies. An insurance broker will listen to your specific needs and then work to match you with the insurance provider that can provide the best policy for your unique situation. This service allows you to shop around for the best possible policy, without having to deal with multiple insurance companies – and the service doesn’t cost you anything. An insurance broker’s commission is paid by the insurance after you’ve signed on to a policy. There is no fee to the client.

Customer Service

An insurance broker’s job doesn’t stop with the purchase of an insurance policy. If your needs change or your coverage changes, an insurance broker in Vancouver can negotiate on your behalf or offer other insurance options. If you ever need to file a claim, your insurance broker can help facilitate that as well. When you work with an insurance broker, rather than a large corporation, you are dealing directly with a knowledgeable industry professional who will always advocate on your behalf and ensure that you are receiving the best possible service and outcome.