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Why Should I Use a Business Insurance Broker?

April 21, 2017

using a Sydney insurance broker

With the advent of the Internet, buying your business insurance online has never been easier. But, is buying insurance online good for your business?

The simple answer is, no.

Whether you’re looking at liability insurance, business interruption insurance or commercial property insurance, the policy you choose is essentially a safety net that will ensure your business can operate like normal in the event something goes wrong.

If you don’t fully understand the ins and outs of the insurance world and the different policies out there, enlisting the assistance of an insurance broker in Sydney is a smart move.

The Benefits of Working with an Insurance Broker

Insurance brokers have an in-depth knowledge of the insurance industry, and are well equipped to assist you with selecting and securing the best possible policies for your business.

There are a number of benefits that come hand-in-hand with working with an insurance broker, including:

They Understand Insurance Jargon

What does it mean when an insurance policy includes terms like actuary, assessor, and mitigation? Your insurance broker will break down all of the technical terms for you, so you will understand exactly what you’re signing up for.

They Work Independently, so Have Your Best Interests at Heart

One of the biggest benefits of working with an insurance broker is that they’re not working for any specific insurance company and aren’t going to advise you to choose any specific company/policy for their own personal gain.

For these reasons, they will only present/compare policies that meet your needs.

They Have Strong Industry Relationships and Can Get the Best Deals

Even though brokers work independently, they still have strong business relationships with a host of leading insurance providers, as well as those that work within niche markets.

These relationships will allow your broker to get you the best possible deal, without you having to lift a finger.

They Know What Is and Isn’t Included in Each Policy

Your insurance broker will ensure any optional extras or covers not included within your policy are clearly disclosed. In doing so, you will have a full understanding of what you are and aren’t covered for.

This is particularly important, as the policy you’re interested in may not include all of the cover you need, a fact that may not be made immediately clear by the policy’s jargon.

They Can Provide Policy Comparisons

An insurance broker will be able to easily compare the pros and cons of different policies from a number of companies. While this is something you could research yourself if you wanted to, it is a timely endeavour, so having a broker do this for you will save you a lot of time and effort.

Plus, if you’re not 100 per cent sure what some of the policy inclusions and exclusions mean, your insurance broker will be able to clear up any uncertainties and explain each policy to you in further detail.

If you’re looking for a business insurance broker in Sydney, you can’t look past the team at Sydney Insurance Brokers. We will work with you to determine your needs, and help you find the policy/policies that best meets your needs.