Home Insurance Broker
If you are looking to buy homeowners insurance, chances are you may be a bit confused about who is a home insurance broker and how is he different from a home insurance agent. You must know that even though their job profile sounds remarkably similar, they are actually quite different.
When you are dealing with a home insurance agent, you are probably looking at policies offered by only one particular company, since a home insurance agent is generally associated with just one single insurance provider. He will only sell products offered by the home insurance company that has hired him.
On the other hand, when you are talking to a home insurance broker, you are talking to a person who deals with a number of insurance companies. Hence he is not limited by only what his employer has to offer, but can bring you quotes from various home insurance companies, and help you decide which one suits your needs perfectly by comparing quotes. Because a home insurance broker is not bound by any kind of a contract to sell only one particular company’s insurance products, he has the flexibility to find you home insurance that suits your budget.
If you do not like one quote and want to see some more, a home insurance broker will be able to work that out, unlike a home insurance agent. Hence it always makes sense to go with a good home insurance broker than a home insurance agent.
Now comes the million dollar question -– how do you find a good home insurance broker? The best way to about this is asking people who have used the services of a home insurance broker. Do not go by fancy websites owned by professionals – that is not the real picture. Your friends, family or co-workers are the right ones to ask for recommendations.
Next, always use a home insurance broker with a valid license. Request to see their license and if required, verify the number with the authorities.
Third, talk to them before making a commitment to work with them. If they are not able to answer your queries with clarity and if you sense that something is amiss, look for someone else. Also listen to what kind of questions he is asking you. Is he being able to figure out your exact needs by asking all the relevant questions?
A good home insurance broker should not be trying to sell a policy that is beneficial for him but does precious little for you.