Last year’s heavy storms set a new record in home and auto insurance claims all over Canada. Unfortunately, here in Alberta the situation is quite extreme. Home insurance claims have exceeded premiums collected for the last five years, and with weather experts anticipating a continued pattern of severe storms for the near future, it seems that rates will most likely rise soon in order to keep overall costs affordable.
When consumers hear of potential rate increases, many begin looking at ways to save money by shopping around to different insurance companies or using some of the direct comparison sites available that have become more popular in recent years. The most effective way to get the best rates and the right insurance is to use an insurance broker.
Many people do not know the difference between an insurance agent and an insurance broker. Understanding that difference could save you money and get you the best service when you need to make a claim. An agent represents a single insurance company, and sells their services and policies. A broker deals with many different insurance providers to find the best coverage and rates available for you. Because a broker is not limited to offering the products of only one company, he or she can customize a policy to meet your needs.
At Lane’s Insurance in Calgary, our experienced account managers are there to give the personalized support you need. You can rely on your broker to provide the professional service necessary to help you make a smart, educated decision.
Brokers Get Better Deals
Unsurprisingly, when most people think of insurance, their first question is, “What is it going to cost me?” A Calgary insurance broker can usually get better rates than an agent because they are free to shop around to different providers. Brokers are sometimes offered special pricing from lenders as well because they have the experience and are specially trained to select the correct policy for their customers. They have a proven track record of avoiding underinsurance or unnecessary claims, which saves insurers money.
Brokers Know Their Customers’ Needs
People want fast, easy and personal service. Because a broker works with you as an individual, they are better equipped to deal with your needs. Consumers who have used traditional services have said that they were expected to fit into a company’s generic policy, and if questions arose or changes needed to be made, the quality of service suffered. Also, traditional services often refer customers to large call centers staffed by employees with little insurance knowledge. A broker will inquire about your specific circumstances to help you find the right policy. Because brokers are so well trained, they can work more efficiently and save their clients time.
Brokers Know Their Products
The right insurance can give you peace of mind. An insurance broker knows the products they works with and can effectively cross check different companies’ policies to be sure to check all of to boxes on your insurance to-do list. Experienced brokers excel at educating customers, answering questions and explaining coverage, so you know you have the best insurance for you and your family.
No one likes the idea of paying more for insurance, but recent weather changes have made that a strong possibility. Even with potential increases for home and auto coverage, rates do vary from company to company. Informed consumers use the services of an insurance broker like Calgary’s Lane’s Insurance to be sure they get the best policy at the most competitive premium.