An Easy Guide to Choosing the BEST Insurance Broker

When it comes to insurance you could spend hours searching and comparing options OR you can go the route most people choose and find an insurance broker. A broker acts on your behalf and will do the research and source the best policies and providers that meet your specific needs. As an expat, having a reliable and trusted broker is critical. In this step-by-step guide, I will be laying out questions to ask and what to look out for before you hire an insurance broker to handle your needs.

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Step #1: Know Your Needs

Much like a doctor, your insurance broker has to know all the details to accurately diagnose the right policy and provider. Be as open as possible so a correct assessment can be made. If you are concerned about confidentiality, ask to see and sign a confidentiality agreement prior to any info sharing.

Your insurance broker should be able to meet your various insurance demands. Check their site to review that they offer all the services you require. Typically, a good broker will be able to take care of the following:

  • Personal Insurance – for the individual or family and includes car, valuables, home, helper, travel insurance and more
  • Health Insurance – factors age, location, tobacco use, and types of coverage
  • Maternity Insurance – Getting this prior to pregnancy will allow you to take advantage of the benefits
  • Life Insurance – get as early as possible to ensure a good cost and coverage
  • Business Insurance (including niche businesses) – Data protection, professional indemnity, events, and products insurance
  • Private Client Insurance – for luxury vehicles, estate tax, as well as emergency security issues

As you can see, an insurance broker is capable of providing care for your every need. So transparency will help both of you understand the different policies you should look into.

Step #2: Check the Reviews

Reviews are one of the most important indicators that your broker is well-liked and possesses the experience and expertise of various insurance situations. You should look at the reviews on trusted 3rd party sites to see the most honest feedback. Some great places to see reviews are:

  1. Google Reviews
  2. TrustPilot
  3. Foursquare
  4. Manta
  5. Yelp

Step #3: The Consultation

Once you have narrowed down a list of prospective insurance brokers and looked over the reviews, it is time to set up a consultation. The consultation should be an opportunity for you and the broker to get to know each other, ask pertinent questions, and review services as well as establish a report.

Companies such as Trusted Union, are specifically focused on managing risk as well as helping individuals and families make informed decisions. When choosing insurance the ideal choice is finding a combination package that can be cost-effective and has the coverage you need.

Bonus Tip: Check out your insurance brokers’ partners to have a good understanding of who they are working with. They should have a lengthy list of excellent partners in good standing.

Take Away

When it comes to choosing insurance it is very easy to get overwhelmed. There are so many services, providers, and brokers that are all vying for your business. Always choose a well-reviewed, expert team capable of providing you and your family with the best possible options and coverage.

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