Insurance Broker in Ottawa

Insurance Broker in Ottawa

Investing in an insurance policy is probably one of the most important financial decisions you make. However, with the market flooded with options from various insurance provider, how would you know to find the right policy or package for your circumstances?

Well, you contact an insurance broker. With an in-depth knowledge about the various products and services available on the market, their prices, terms and conditions, benefits, exclusions and limits, an insurance broker can help you find the ideal policy that best fits your needs. They can also negotiate a good package with the insurance provider on your behalf.

If you need help finding a good insurance policy in Ottawa or want to see if your current Insurance holds up, get in touch with our experienced insurance brokers today. We will be there to answer all your queries and assist you in any way we can.

What do insurance brokers do?

An insurance broker is essentially an intermediary between you and an insurance provider. With an in-depth knowledge of your requirements and the products and services available on the market, they can help you find a policy that is most appropriate to your financial needs.

Why do you need an insurance broker?

There are many reasons why you should consult a broker. Here is a few of them:

• Knowledge – Brokers keep up to date with the market and are hence aware of not only the options available but also notice any changes in trends. They will have a good idea on the benefits, terms and conditions, exclusions and limits on the various policies provided by different providers. They can help you find plans that benefit you the most.
• Customer-centric services – Insurance brokers aren’t tied to any specific insurance provider. All they need is for you to explain your requirements and financial situation and they will be able to find the right insurance coverage at the right premium. This way, you get the benefit of their expertise as well as the most appropriate insurance plan.
• Objective risk assessments – Insurance brokers have the expertise to understand not just market trends, but also to identify risks to your home, family, vehicle or business. They can help you understand, plan for and reduce those risks with an appropriate insurance policy.
• A variety of insurer options – A direct insurer can only offer you one policy. However, with an insurance broker, you have access and the flexibility to choose from various insurance providers. A broker can help you identify your risks and help you find a plan that can cover them while providing you with benefits you may not be aware of. They can even help you negotiate with an appropriate insurance provider.
• Liaising for claims – An insurance broker can represent you and liaise with an insurance provider when you are making a claim. Since they understand the technicalities of an insurance policy, in the event of a disputed claim, they can advocate your case with the insurance provider. A good, respected broker can be the difference between the insurance provider paying a claim or not.
• Cost savings on your premiums –Surprisingly, insurance brokers can offer cheaper policies than direct insurance providers. This is because insurance providers often give lower rates to brokers than to direct customers. This is in turn because the insurance broker usually has enough insight into their customer’s circumstances to help them find the most suitable policy. This in turn means that these matchups provide lesser risk for the insurance providers as well.

When will you need to consult an insurance broker?

Consulting an insurance broker to find a policy isn’t necessary for everyone. How you buy an insurance plan is a personal choice. However, if you find that your financial situation is complicated or you are simply overwhelmed by the plans available, then you should probably consult with a broker.

Here are a few circumstances where you may benefit from the expertise of a good insurance broker:

• When you have multiple life insurance & critical insurance & Investment funds
• Want to thoroughly understand every aspect of your insurance policy, such as the terms and conditions, benefits, exclusions and limits.
• Need to find an appropriate insurance plan for your business and insight into the risks involved.
• Want to browse through policies provided by different insurance providers without investing too much time or energy.
• Want advice of an expert who can understand your background, financial needs and policies you want to invest in.

Insurance brokers make sure you find and invest in the appropriate insurance policy. They support you with impartial advice, accurate policy comparisons and will even chase any insurance claims for you. Claims, especially disputed ones, dealt with by your broker can save you the hassle and stress of a difficult and typically frustrating process.
An insurance broker’s professional impartiality is what allows them to match your needs with the right policies, insurers and premiums.