Working with an independent insurance broker means enjoying unmatched expertise, securing great coverage at the best insurance premiums, accessing a network of established specialists, and receiving professional support daily.
What do I gain by using an insurance broker instead of an agent?
Since an agent works for a direct insurer, they will only offer their clients the products of that insurer. In contrast, an insurance broker works for an independent brokerage firm that distributes the products of various brokerage insurers.
At Lussier, for instance, we have direct access to experts from around 70 insurers. As a result, our portfolio of premiums and products is so extensive that it can cater to the specific needs of each policyholder. Our insurance brokers find you the best coverage at the best insurance premiums on the market because they are not limited to offering a single product.
For example, if you want to get quotes for auto insurance, our experts will not only handle the process for you but also negotiate to secure the most advantageous option. This saves you both time and money.
Does this benefit apply even in highly specialized niches?
Absolutely. At Lussier, our brokers offer a specialized market service tailored to policyholders with unique circumstances. This includes situations like a criminal record, policy cancellation due to non-payment, short-term residential rentals (such as Airbnb), driver’s license suspension, and more.
Direct insurers typically do not cover these niches. However, insurance brokers remain the go-to experts for individuals with specialized insurance needs.
In most cases, these situations arise from life circumstances beyond our control. Consider someone who forgets to notify their insurer about a change in financial institution for an automatic withdrawal. Even if such an honest mistake is due to distraction rather than malicious intent, the consequences can be severe. Fortunately, insurance brokers are there to address these less common scenarios.
What other benefits come with working with an insurance broker?
Insurance brokers provide ongoing support to policyholders. For instance, they can make changes to your policy on your behalf, no matter the time. This includes updates like a change of address, vehicle substitution or removal, or location changes. They also handle changes to banking information or payment schedules by notifying the insurer.
In essence, insurance brokers are first and foremost advisors for their clients. Whether it’s choosing a qualified insurer, managing relationships with them, handling day-to-day matters, validating document wording, submitting a claim request, or addressing a variety of other issues, insurance brokers simplify every step and make the overall experience far less daunting.
What about communication between the policyholder and the insurer?
Here too, insurance brokers take charge. They communicate directly with the insurer on the client’s behalf, saving the client time and effort in managing their file. Even in the case of a claim, Lussier specialists support policyholders 24/7 throughout the claims process.
Is the broker still involved when it’s time for renewal?
Yes, the broker shops around for the client’s insurance renewals. Similarly, if a client is concerned about a seemingly unjustified premium increase, their insurance broker can review the file, demystify the increase, and help them understand it. This way, the client is better informed to decide whether the increase is reasonable. The broker can also offer advice for future decisions and even initiate a search for a new insurance partner if necessary.
