Purchasing insurance can be an overwhelming experience, especially if you have never done it before. However, many people overlook a very important resource that can help with this process – an insurance broker. Due to misconceptions such as cost, company bias, and the ‘do it yourself’ mentality, people are missing out on the personalized advice and market knowledge that brokers offer.
Continue reading as we dispel four common myths about working with an insurance broker to help you make an informed choice when it comes to securing coverage.
Myth 1: Too Expensive
Many people assume that working with an insurance broker is too costly. This is because they’re often used to other types of agents who require a retainer or service fee. The great thing about insurance agents is that they aren’t charging clients directly; instead, they are getting paid by the insurance company through commission. So, you can rely on their expertise and support without worrying about additional fees. Brokers are simply there to be a resource and a guiding hand as you choose the right insurance plan for your needs.
Myth 2: Only for Complex Needs
Now, you might be thinking, ‘I don’t take any extra medications, I rarely get sick, and I just need occasional dental visits—so maybe I don’t need an insurance broker.’ The truth is that no matter how big or small, an insurance broker can help you choose the right plans and identify the benefits that best fit your situation. Plus, keep in mind that there is a lot of industry jargon when signing up for insurance. An insurance broker can break down key terms and ensure you understand all the fine print. With something as important as your healthcare, having expert guidance is worth it!
Myth 3: Favor Certain Companies
There may be hesitation in working with an insurance broker because the thought is that they only promote certain companies. But with independent agents, that could not be further from the truth. Independent brokers are not tied to any single insurance company; their goal is to find the coverage that suits you best. They do this by contracting with a wide range of carriers, allowing them to offer you multiple options. Through the certification process for each carrier, brokers gain in-depth knowledge of the available plans. So, when they sit down with you, they can confidently recommend the plan that best fits your unique needs.
Myth 4: Unnecessary in the Age of Online Quotes
In today’s world, we can get nearly anything we want with just a few taps of a button. Insurance quotes are no exception. Most insurance companies now offer free quotes on their websites, which may lead you to believe that the role of an insurance agent is outdated. However, access to personalized advice and expertise is something that these online tools cannot replicate. As previously mentioned, insurance brokers are constantly researching and studying the products they sell, so they are equipped to answer your questions with in-depth knowledge. And when it comes to something as personal as protecting your family’s future, you do not want to rely on filling out a generic online form – you want the human connection and guidance that only an agent can provide.
Agents
We hope that this information on common myths of working with an insurance broker is useful to you. Share it with your audiences who may still have these misconceptions!
Empower Brokerage is dedicated to helping you make informed decisions about your health and finances. Whether it’s through webinar training, one-on-one calls, seminars, or marketing plans, we want you to be successful!
Give us a call at 888-539-1633 or leave a comment below if you have any questions.
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Kayla is a graduate of Texas A&M University and joined the marketing team at Empower Brokerage in early 2021. She creates content for the company websites and assists with various marketing campaigns. LinkedIn Profile
