Commercial Insurance Brokers – A Brief GuideIn the context of modern day insurance purchasing, there can be little argument as to the many advantages of hiring commercial insurance brokers. The field of insurance can be a daunting one at the best of times, filled with complex details, exceptions, and easy-to-miss details which nonetheless need to be taken into consideration, and the existence of these professionals goes a long way towards ensuring customers are not as lost, befuddled and mystified by the many particularities of this highly specialised area as they would otherwise have been.

Playing a highly unique role within the insurance field as a whole – somewhere between salesmen and educators – commercial insurance brokers stand out as a confused customer’s potential best ally, often offering invaluable assistance throughout the process of locating, negotiating and ultimately purchasing the perfect insurance package to meet that customer’s needs. That is why so many prospective policy buyers continue to seek out these professionals’ services, and why they continue to play such a key role in the insurance-buying process as a whole.

Popular though their services are, however, commercial insurance brokers are far from a client’s only resource when attempting to find the right insurance policy to fit his or her needs. Much to the contrary, there are plenty of other options available to the average uninitiated layman, not least of which a slew of increasingly-popular, online-based insurance providers. As such, it is only natural that customers will be tempted to explore what each of these options has to offer them, when compared to tried-and-true commercial insurance experts.

“In the context of modern day insurance purchasing, there can be little argument as to the many advantages of hiring commercial insurance brokers”

While we would not want to influence anyone’s ultimate decision with regards to which method to pursue when buying insurance, we here at Watson-Laurie feel it is our duty, as expert commercial insurance brokers with years of experience, to inform our customers of the advantages of picking the types of services we offer over the alternatives detailed below. We admit we are biased, of course, but by the time we wrap up this article, we will hopefully have been able to convincingly demonstrate the advantages of hiring commercial insurance brokers as opposed to an internet-based insurance provider, or any other type of service typically on offer within this field.

Impartial Advice

Undoubtedly the main advantage of hiring the services of commercial insurance brokers as opposed to dedicated insurance providers is the ability to benefit from truly impartial and unbiased advice, with no ulterior motives.

Typically being linked to any number of insurance providers, rather than tied to a specific insurer or conglomerate, commercial insurance brokers are not indebted to any one provider; rather, they make commission no matter which company they direct their customers to. What this means, in practical terms, is that they are able to offer their clients their truthful opinion about which company might offer the best plan for them, rather than obligated to push them towards the one they are affiliated to. This is the main trait setting them apart from insurance agents, and one of the main perks of hiring these types of professionals, from the customer’s point of view.

This voluntary lack of any particular affiliation is also what makes the secondary role most commercial insurance brokers take on – namely, as educators of the general public in the general field of insurance – possible. Because they are not obligated to achieve sales for any specific insurer, these professionals are able to take a step back and see the ‘big picture’ where the insurance market is concerned, which in turn allows them to better guide and steer their clients throughout the insurance purchasing process.

Serving the Customer

In line with the traits detailed above, mainly the voluntarily unaffiliated status they choose to maintain, commercial insurance brokers also tend to put the customer’s interests ahead of those of insurance companies.

As also mentioned above, these professionals tend to be linked to, and receive commission from, any number of different insurers, and therefore feel no particular sense of loyalty towards a particular one over its direct competitors. As such, once they have appraised a particular client’s situation, requirements and needs, they are able to review all the insurance plans available on the market which might benefit that client, in an unbiased and totally fair manner, thus serving the customer’s best interests, rather than those of any given institution.

In essence, the primary goal of reputable commercial insurance brokers is to ensure the customer is pointed towards the most adequate insurance policy possible to fit his or her requirements or needs, rather than to boost the sales figures of a particular insurer or insurance network. These professionals’ business volumes are directly linked to their reputation, and the experts employed by leading brokerage companies such as Watson-Laurie therefore pride themselves on not compromising this aspect in a bid for a bigger commission or an exclusive contract. As such, customers who seek out the help of these types of professionals have a better chance of being given a fair overview of their options, and a genuine recommendation which will fit their needs, than those dealing directly with more self-serving insurance agents or companies.

Conclusion

In short, seeking out the services of dedicated, independent commercial insurance brokers can have considerable benefits for uninitiated customers looking to purchase a commercial insurance policy. Namely, by hiring these professionals, neophyte customers less versed on the particularities of the field can acquire valuable guidance and a knowledgeable, impartial partner to guide them through the purchasing process.

By contrast, choosing to deal directly with insurers, either face to face or on one of the increasingly common online insurance platforms, can potentially work against the customer’s best interests. This is because customers who are not too sure of what they need or what they are buying are more prone to being misled into buying extra services and cover they do not really need – an aspect some insurers will readily pick up on and exploit.

This is why we here at Watson-Laurie can say, without a hint of bias, that hiring the services of commercial insurance brokers is the best bet for insurance neophytes!