As we are living in a digital age, more and more people believe that they can handle their personal finances with a DIY approach. There are so many online tools, calculators and comparative instruments that make it easy for consumers to see what short term insurance options are available on the market.
While these online tools are extremely helpful, it cannot generate a tailored and unique approach to develop a proper insurance portfolio that will fit the person’s specific needs. This is according to Dawie Loots, CEO of MUA Insurance Acceptances, who says that many people often think that they do not need the assistance of a broker anymore, but this type of thinking can be financially costly when they actually have to file a claim with their insurance provider.
Below Loots discusses some of the main benefits people will experience when they use the services of a reputable insurance broker.
Trust and responsibility
The value of the relationship that the insurance broker and client builds over years will result in great trust and respect between both parties. The broker will spend time getting to know their client’s lifestyle, unique needs and what is important to them. This way the client can be assured that the broker understands what they need and the broker can provide long term satisfaction and service.
Assistance with claim procedures
Claims services is probably the most important area as this is the key reason for the purchase of insurance. When using a broker, people have the advantage of having expert guidance throughout the whole process as the broker will effectively manage the entire claim on the client’s behalf. This will take away a big burden of stress off the client’s shoulders as they do not have to deal with the administrative tasks, file the wrong information or negotiate settlements.
Most insurance policies consist of jargon, terms and conditions that the general ‘man on the street’ might find confusing and hard to understand. A broker will be able to explain these terms and policies in a way that the client can understand it and make sense of it with real-life examples. This way the client will fully understand what they are purchasing, what the risks are and what is and is not covered under the policy.
Appropriate cover at the best price
The broker will ensure that their client has the most appropriate cover, from the best provider, at an optimal premium. A cheaper premium is not the only consideration when comes to choosing comprehensive cover, but they will be able to get the best cover at an affordable price and could even negotiate for discounts from the provider or give the client tips on how they can save on insurance.
Lastly, by having a broker the client has access to the knowledge and first-hand experience that the broker has gained over time. Just as patients go to a doctor for professional advice on medical issues, people need to consider getting a broker for professional advice on insurance.
“Brokers can be of invaluable worth to their clients as they make sure that they are sufficiently covered for any type of financial loss or risks. Consumers should never underestimate the value a good broker can add to their lives,” concludes Loots.