An Insurance Broker is a professional who offers, negotiates, and sells policies, acting as the middle man between insurers and customers.
One of the roles of brokers is to help consumers to assess the types of risks they face. Risks include natural hazards such as bad weather, hurricanes, tornadoes, fires, and floods. At the same time, brokers act on behalf of and in the interest of customers.
Comparison shopping is done to find the best deals and offer policies from more than one insurance company. Brokers also help their clients to outline risk management strategies, which are suitable for their profile. There are different types of risk to look into, including natural disasters, car accidents, credit risks, cash flow problems, legal liabilities, and others.
Insurance brokers discuss with clients and gather information for them. This is important as to understand their specific needs. Negotiations are done with insurance companies to be able to offer the best terms and premiums to clients.
The obligation of an Insurance Broker is to YOU the client; not the insurance company.
*Insurance premiums are underwritten by various insurance companies
