Pam was looking for insurance quotes for her home, car and business.
“It can’t be that difficult!” she told herself while opening the phone book.
“It’s Cayman, after all, how many insurance companies can there be!”
Two and a half hours later, Pam was frazzled and frustrated. Thus far she had only managed to secure three quotes by phone and she was waiting for many more insurance companies to call her back. On top of that, she had no idea what to look for in a policy. The insurance agent she had called had completely confused her with their jargon- deductibles, carrier ratings, valuations!
All Pam wanted was a good price, quality coverage and maybe even a discount because she had both a home, car and business to be insured. Now she was stuck looking up terms, reading through fine print and praying that she would make the right choice for insurance coverage.
Pam’s story is not an unfamiliar one. We all want reasonable rates and great coverage without having to take a course on insurance. One way to accomplish our insurance goals is to have an insurance broker on our side. An insurance broker is an independent insurance professional that represents you when dealing with a wide range of insurance companies, seeking quotes with the best coverage, and discussing the options & alternatives with you. The broker also reviews the policy fine print to ensure there are no ‘clauses’ or ‘catches’ that could hamper a claim. In the unfortunate event of a claim, a broker will work with his/her client, ensuring that the claim is paid as quickly possible and that no unfair reductions are made.
A broker can be your best guide in navigating the tricky world of insurance, however not just any broker will do. There are certain things you should look for in a broker, e.g. Is the broker owned by a reputable company, how many years of experience does the broker have, how many staff do they have and how qualified are they, do they have their own claims team, do they work with a wide range of insurers?
Your broker should deal with A.M. Best rated Insurers. An ‘A’ or ‘A-’ rating means that the insurance company has been evaluated by A.M. Best (an international ratings company) and given an “excellent” rating. If the benefits of having a professional insurance broker on your side weren’t enough there is usually no cost to you either. The price that a broker quotes you should not be any higher than if you obtained the quote from the insurer directly, and some brokers will also offer you interest free premium payment plans.
To sum up, a good broker can save their client time and money, whilst negotiating and seeking the best coverage possible from a range of quality insurers.
For your reputable Insurance Broker, call Fidelity Insurance at 949.7822. Fidelity Insurance deals with highly rated carriers locally, regionally and internationally and offers discounts for multiple insurance policies and interest free payment plans. Fidelity Insurance provides coverage for homes, automobiles, boats as well as business insurance. Ask about our health insurance and pension plans too!