Why to use an Insurance Broker

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Having the right insurance for your business is essential to continue its day-to-day operation and protect your workforce. You can do everything to maintain the proper function of the company, but some things will be beyond your control. In these moments, it is important to have the right cover that satisfies the specific needs of your business. 

However, navigating the many options available when it comes to selecting the right insurance can be a daunting and laboursome task. Making the wrong choice can have serious consequences for your business, with risks that can cripple business operations if not adequately protected.

So how can you be sure you’re making the right choice? That’s where an insurance broker comes in.

What can Cerberos Brokers do for you?

  • Tailor Made Insurance Strategies

Insurance brokers are experts at finding the right cover for you by identifying the potential and existing risks to your business. They do all the heavy lifting by researching different insurance policies and presenting you with options that best suit your needs. Whether an individual, or a small business, they provide tailor-made, diverse, and flexible insurance products.

  • Placing cover

Once they have helped you choose a tailored insurance strategy that best suits the needs of your business, they then implement that strategy. Insurance brokers first communicate all details of the policy and premiums, confirming that you wish to proceed.

  • Delivering ongoing service

Working with an insurance broker doesn’t end with simply finding the right insurance for your business. They will continue to manage your insurance cover through regular reviews that assess the validity of the policy put in place, alongside the operation of your business. If there are any potential risks to your business that arise during these reviews, brokers can suggest further changes to your policy to protect your business in an efficient manner. By working with an insurance broker, you can rest easy knowing the policy you selected is kept up to date with any emerging risks or changes to your business. 

  • Managing your claims 

When the time comes and you do have to make a claim, an insurance broker can also work with you during this stressful time. This includes engaging in negotiations with insurers and third-parties on your behalf to ensure payment of any benefits is prompt and adequate. An insurance broker can ensure the best options for policy renewal by compiling up-to-date claims statistics and keeping a close analysis of the frequency, severity, causes and any trends in your claims.

  • Renewing your cover 

Through the continued management of your policy throughout the year, an insurance broker can recommend the best option for the following year, based on any changes to the business and any claims made. This can save you time, money and stress at the end of the year and provide the best outcome for your business going forward. 

 

Why use an Insurance broker?

Save time and money

With the many insurance cover options available, finding the right one for your business can be a time-consuming and confusing job—time that could be better spent on managing the day to day operation of your business. Cerberos Brokers are in a position to compare the different insurance products, analysing the complex policy wording to ensure you are purchasing the right cover for your business. We work with you to understand your business and find a policy specifically tailored to your business.

While getting the right insurance policy for your business is important, it is also important to know that you are getting it at the right price. Working with an insurance broker is essential to ensure that your cover is cost-effective, often being able to negotiate lower prices for your business. Our expert advice and claims and policy management processes ensure policy price increases are minimised, saving you more money in the long term.

Stress Less

Working with an insurance broker can also provide peace of mind, knowing that an expert has spent time analysing the specific risks of your business to ensure you are adequately covered. An insurance broker works with you during difficult times to take some of the burden off your shoulders. Whether an individual or business, an insurance broker can work to not just minimise loss but ensure that the best possible outcome is being achieved. 

Insurance Brokers are in the best position to help you 

From Professional Indemnity & Liability insurance, to travel insurance, various types of cover all contain varying elements, conditions, and exclusions that can be difficult to understand without the experience. Insurance brokers are experts at what they do, with extensive product knowledge that is key to selecting the right cover for you. 

Insurance Brokers are also in the best position to negotiate the best possible price and policy terms. Whatever it is that you want to insure, an insurance broker can act on your behalf to provide a tailor-made product. The negotiating power of a broker is critical in knowing that the best protection for your business has been acquired, at a more competitive price. 

How do brokers act in your best interest?

It is important to understand that an insurance broker is not there to sell you insurance, but rather work with you to ensure that your business is properly protected. An insurance broker will represent your best interests, and not those of any specific insurance company looking to sell you their product. It is for this reason that an insurance broker is paid a commission, so that they can remain neutral in selecting the right type of insurance for you. It is the responsibility of the insurance broker to understand what makes your business unique, gaining a respect for your requirements and tailoring an insurance strategy that meets these needs.

An insurance broker also acts as your personal claims advocate, with support continuing after the initial insurance policy has been put in place. Advice and strategies are offered throughout the entire claims process, advocating on your behalf with insurance companies to ensure you are receiving the best possible outcome. An insurance broker is there to see you through the entire process, working closely with you, the insurance company and any third-party valuers, repairers or specialists—but we are always in your corner. 

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