3 Things to Consider when Choosing an Insurance Broker
Choosing an insurance broker for your business can be tough, but you’ll be thankful you gave it some thought should you ever have to file a claim. If you’re feeling a bit overwhelmed with all the options at your fingertips, take into consideration these 3 things when choosing an insurance broker for your business.
3 things to consider when choosing your broker:
Your company’s values are meant to be more than just words on a wall – they need to be lived out through your culture, operations, and overall business mentality. The same goes for choosing an insurance broker. For instance, if you value transparency, communication, and accountability, you’d want an advisor who acts as a partner, rather than one who will only communicate with you when it’s time to renew your agreement.
In every conversation or business transaction, each party will have priorities. Yours may be to protect your business with the most cost-effective insurance options, but that doesn’t mean it should be your broker’s highest priority. Your broker’s biggest priority should be to cover all of your business risks. Working out the most cost-effective way to do that will follow. The best brokers are the ones who are both honest and frank with you in order to get your business where it needs to be. Even if that means lost commission on their behalf.
Not many people think to consider culture when choosing their broker, but it can actually be one of the most useful tools in determining if they’d be the right fit for you. Think back to your values. Do the things that you value within the relationship align with what they value? Or does something not line up? A broker’s workplace culture is a telltale sign of how they’ll conduct business with you – and a good one will put your business above their own commission.
When determining their culture, look at things like these:
- Their mission, vision, and values.
- If they have any type of community involvement or a greater cause.
- If they offer additional educational resources for their clients.
- If they’ll be honest, yet frank with you.
When choosing an insurance broker, the bottom line is that you need to choose a company who will always have your best interest at hand. At Snellings Walters, we believe in working as an extension of your team to get your business the coverage it needs. For us, transparency is key. Just reach out to us here, or give us a call! 770-637-1734