safeguard.com.au

5 reasons why every business needs a insurance broker

A lady looking at herbs in front of her business

We know it can be hard to get excited by insurance. For the most part, it’s one of those things that we buy because we have to, not necessarily because we want to.

 

But insurance matters – and having the right insurance in the event of a claim is vital. Anything less could result in your business having to close its doors for good.

We know you wouldn’t dream of doing your own legal work or medical tests. So why should your insurance be any different? It can be just as important in protecting what’s important to you. And that’s where an insurance broker can help.

If you haven’t worked with an insurance broker before, you’re likely oblivious to the many benefits they can bring to your life or business. So to make your life easier, we’ve set out the best reasons for using a broker for all your insurance needs.

You can watch a short animated video about why insurance brokers are so great below

Why you need a broker

1. You’re in safe hands: Brokers are experts in insurance and risk and are can provide you with advice on the insurance your business really needs to survive and thrive – not just what you think it might need. They know the insurance markets, and they know the risks facing businesses of all types, so you can be confident that the insurance you end up with will actually protect your business in the event of a claim.

2. Making your life simpler: We all seem to be busier than ever, with virtually every moment of our spare time hotly contested. It’s important to take time out every once in a while, so why spend hours of your precious time searching and searching for the right insurance for you when a broker already knows the market inside out? They have spent the time unravelling policies and understanding what is really covered, so you don’t have to. You can go and read a book, sail a boat, or ride a bike instead.

3. The personal touch: All good insurance brokers deliver a personalised service. They take time to understand your business and build long-term relationships with their clients. It’s not unusual for brokers to offer such good service that they retain clients for years – even decades. You can’t guarantee that sort of dedication with a computer now, can you?

4. Saving the day at claims time: Research suggests that the process of resolving a claim with insurers can be even more stressful than the incident that caused the claim itself! Nobody wants that stress, but when you work with a broker they will handle the claims process for you, giving you one less thing to worry about. Better yet, if you use a broker your claim is statistically more likely to be paid, and at a higher level. Hashtag winning!

5. On-going expertise: Allied to the earlier point about insurance not being that exciting to the layman, if you work with an insurance broker they can advise you on the latest and emerging risks impacting on your area of business because they stay on top of these things as a matter of course, and are aware of the latest insurance products on the market to protect against them.