Choosing an Insurance Broker with experience is the smartest move you can make for your business.

Maybe it’s that time of year again, and your insurance policy has fallen due for renewal; or you’re looking at purchasing insurance for the first time. With the cost of living (and everything in between) increasing, so are insurance premiums. You have to do your due diligence and research to ensure that you’re not being over charged for the right insurance coverage.

Fortunately, Morgan Insurance Brokers provide exactly this service. With access to over 150 insurers and underwriters, this is our speciality.

In the instance where you’ve approached multiple insurance brokers, which is very common, and you receive a quote back that’s close to, or even cheaper than one we’ve provided, your comparative analysis on which policy you should take up should not be based on purely price.

With the skill and talent shortage in the industry of late, insurance brokers are not equal in the service and knowledge they can provide. A lot of insurance brokerages can sell you insurance, but not all can provide you with the service and experience you need. Just because you’re dealing with an Insurance Broker, does not mean you’re dealing with an Insurance Professional.

Asking your prospective insurance broker about their experience is crucial because insurance is a complex field, and a knowledgeable broker can provide valuable insights and guidance on policy covers, ongoing support, and claims service. Here’s why experience matters:

Expertise in Navigating Complexity

Insurance involves intricate policies, regulations, and risk assessments. As an experienced broker, have encountered various scenarios and can navigate the complexities of insurance to provide tailored advice.

Risk Assessment Skills

As experienced brokers, we are skilled at assessing risks specific to your industry and business. We can identify potential gaps in coverage and recommend suitable policies to mitigate risks effectively.

Relationships with Insurers

As we’ve been in the game for over a decade, close to two, we have established relationships with insurers. This means better negotiation capabilities, potentially securing more favourable terms, coverage, or premiums for your business.

Claims Handling Experience

In the unfortunate event of a claim, an experienced broker is essential. We can guide you through the claims process, ensuring a smoother resolution and advocating on your behalf to maximise the benefits of your policy.

Your needs, not our wallet

As an experienced broker, we prioritise providing sound advice over making a quick sale. We understand the importance of building long-term relationships and ensuring you have the right coverage for your specific needs. There are also instances where we turn away potential clients if their approach to insurance does not match ours.

Industry Knowledge

Different industries have unique insurance requirements. An experienced broker with knowledge of your industry can tailor policies to address specific risks and compliance needs.

 

While cost is a significant factor in choosing insurance, prioritising the broker’s expertise and reputation is essential. As your Insurance Broker, we understand your business, have industry knowledge, and can provide reliable advice that can ultimately help you secure the most suitable coverage for your needs.