Why should I use a Broker?

Why  should I use a Broker?

We get asked a lot about whether you NEED to use a broker or insurance agent to get health insurance. While you might not need one, you should use a broker.  Read on to learn more.

Difference Between Broker and Agent

First things first, let’s explain the difference between an agent and a broker.  An agent generally works with one insurance company and is limited to offer the products of that company.  A broker is contracted with all carriers and can shop for the best options for your situation.  With a broker, they don’t have try to put your “square” health needs in a “round” hole.  They can give a “glass slipper” type of plan.

Misconceptions about getting help finding a plan.

If you don’t know your way around the health insurance market it can be confusing.  Not only are there different types of plans but the terminology can also add to the frustration.  Add to that the number of companies, plans and options and it can be overwhelming. These days you can go online, get a quote quickly and 10 minutes later you have insurance.  But is it the right insurance? Does it cover you or your family’s needs?  What will you have to pay out of pocket? When?

People will spend weeks or months researching vacation spots or getaways but will spend 5 minutes on a health plan.  Using an insurance broker can help you get what you need in a short amount of time.

Here are three of the top misconceptions:

1. They just want to make money off of me.

This is the one we hear most often.  We get it.  Unfortunately, like in every profession, you will have a few bad apples that give the rest a bad name.  But if you find the right insurance agent, they will put your best interests first.  They will try to figure out what kind of coverage you need and how they can get you that coverage for your budget.  The premium of your plan does not change if you use a broker.

2. They will try to sell me extra products I do not need.

Most good agents will recommend add-on products to fill in potential gaps in your coverage or cover your out of pocket exposure.  This can be misunderstood sometimes because the insurance industry is so confusing.  In many plans, there might be one or several things that aren’t covered and a good agent won’t leave you exposed, they will explain the pros and cons as well as tell you where you might be vulnerable to a loop-hole of some kind.  Keep in mind those that have been working with clients for a long time, have seen people both take and refuse the “extra” coverage.  They have seen that coverage provide for unexpected expenses and have seen what happens if the coverage is not chosen.

3. They will not be there when I need help.

When you are looking for an insurance broker, this is definitely a question I would ask.  How do you I get in touch with you if I have questions or if I need to use my policy?  If they give you their direct line, cell and office number you are in good hands.  Many of them also have an assistant who handle customer care situations and are authorized to help you.   They can also help walk you through all the options and they are there in the unfortunate circumstance that the event is a serious one.  Knowing your insurance agent has your back can give you the confidence your health insurance needs are taken care of.

At the end of the day, whether you use an insurance broker is up to you, but in our experience most people prefer the one on one help and recommendations.  They prefer the untangling of the crazy insurance language into something that anyone can understand.

And the really good ones will spend the time to get to know you and your needs and be there when you need them most.

If you are interested in a free quote or just want to learn more, feel free to call our office for a no pressure quote at 314-282-7013.