In recent years, insurance has been becoming rather intricate. There are numerous insurance companies and policies to choose from, with new products being introduced into the market from time to time. Often the policies are full of disclaimers and insurance terminology which can scare an ordinary consumer. Matters may be complicated further by different specialized types of coverage, discounts, and surcharges.
Finding an agent or broker who will serve you well on long-term basis is very important. The best way to go about it is to take enough time and be choosy. You may start by talking to family members, colleagues, friends and other people you trust. Find out if they have been happy with their property reinsurance brokers. You can also seek professional advice from your attorney or financial planner who can recommend someone. However, in case all these are unable to refer you to any professional broker, then you can go ahead and do an online search for insurance property reinsurance brokers in your area.
However, the real challenge lies in screening your prospective candidates. The following tips will help you find a suitable broker:
• Get information on the broker’s credentials to determine whether he/she is well qualified for the job.
• Ensure that the broker has years of experience under his/her belt with the kind (s) of insurance you are looking for.
• Apart from how he/she is paid, find out how much the broker is paid. This is because there are various types of payment structures for insurance experts. These include commission only, fee-plus-commission, and fee only.
• Ensure that the broker’s hours match your schedule and lifestyle.
• Ensure that you like the broker you settle for, you are comfortable working with him/her, and the person is ready to listen to you at any time.
• Demand to speak with the broker’s present clients in order for you to get a sense of customer service that you can anticipate in future.
• Consider your initial meeting with the broker as a job interview. As such, you shouldn’t shy away from asking as many relevant questions as possible. This will be helpful in giving you additional insight into the person’s knowledge, integrity and concern for your needs. Forget about how the person looks on paper; it is the impressions you come away with that are more important.
Once you choose a broker, you should make it a point to assess the person’s performance periodically. After all, you are after the best property reinsurance broking services and you can always switch to some other broker if you are not contented.