Studies consistently show that most consumers feel real anxiety about personal finance decisions. Few areas of personal finance are more anxiety-inducing than questions of insurance – fires, floods, earthquakes, accidents, death – anybody would feel nervous about these things! Knowing that these decisions are so important and that mistakes could cost a great deal of money, many people do exactly the worst thing they could do – bury their heads in the sand and hope for the best.
What Are the Advantages of Working with an Insurance Broker?
When choosing insurance products, many people just go with the company they have heard of – perhaps because they have seen advertisements on TV or in magazines. Choosing insurance products primarily on the basis of advertising is definitely not the best way to protect your family. The alternative, however, is not necessarily for you to become an expert in casualty, life and business insurance. These are complicated subjects and you are busy with your family and running your business. This is where your local insurance broker can add real value for you. The insurance broker lives and breathes this stuff!
The risk-management challenges that your family faces are complicated but they are probably not unique. Your local insurance broker benefits from years of experience dealing with situations and challenges just like yours. You can rely on that experience to protect your family, save money and put your mind at ease. If you’re nervous about insurance issues – and most people are – get professional help so that you can feel confident that your family is protected.
Having a trusted advisor and advocate close to home is extremely valuable. Your local insurance broker knows the conditions in your town, how business works there and what the major risks are that need to be addressed. He will even know you – your life goals, family situation and business challenges. The core of the insurance broker’s business is to be close to you. Through your personal meetings the broker will know you well. Through his years of residence in your community, he will know the challenges people face – floods, earthquakes, extreme weather events, etc. The challenges are different in every community and the insurance requirements differ. Having local expert advice makes all the difference. That local connection is at an absolute premium when you are in trouble. After an accident or a storm, your local insurance broker is your friend in need. Why struggle to file a claim with strangers when you could have a local advocate?
Your local insurance broker has been studying insurance instruments and other aspects of finance for years. The fact is that there is a complex interaction among all the elements of risk management in your life – casualty insurance, life insurance and other forms of risk management. These various forms of insurance also interact in important and complex ways with taxation and estate planning. Fitting all the pieces together in a way that makes sense takes not only expertise, it takes focus. You need an advisor who listens carefully and asks probing questions so you can make intelligent choices. Using an insurance broker who is not committed to a single company gives you even more options. Your broker can address your specific needs at the lowest possible cost by connecting you with the best insurance for each of your risks. The best mix of insurance for you may well involve products from different companies. Your insurance broker works for you, not the insurance company.
Let’s talk about what’s keeping you up at night. You will probably find – like most of our clients do – that once you have taken action to address the problem and once you have a plan, you will feel a lot better. Come see us and let us talk about it.