(http://goarticles.com/article/IT-and-Professional-Indemnity-and-Liability-Insurance-3-Major-Advantages-of-Using-a-Broker-Vs.-Company/7869558/ ) - When looking to purchase insurance, it can be confusing as to what company is the best to buy your insurance from. If that isn’t bad enough, you also have to decide whether or not to buy your insurance from an insurance broker or an insurance company. There may be differing opinions when it comes to this because people have had different experiences.

1. 3 Major Advantages of using an
insurance broker vs. an Insurance
Company

2. When looking to purchase insurance, it can be confusing as to what company
is the best to buy your insurance from. If that isn’t bad enough, you also
have to decide whether or not to buy your insurance from an insurance
broker or an insurance company. There may be differing opinions when it
comes to this because people have had different experiences.
Choosing the best Insurance Company

3. Insurance Brokers have the ability to offer you an entire host of insurance
products for you to choose from. An agent does business with one company,
so they are only able to offer you what their company has available.
Insurance products can vary considerably from one insurance company to the
next. With a broker, having the ability to choose from many different products
allows you to choose a policy that is adequate enough for your particular
profession. For example if you are a software developer, then you can get
insurance that fits the needs of a software developer, or a
telecommunications company etc.
Insurance Brokers

4. An insurance broker is licensed to provide advice. Insurance companies (and
their agents) can only provide general advice on the specific product(s) in
which they offer. A broker has to have extensive training (minimum industry
requirements apply) and experience to be able to provide advice and broking
services, so you can have that peace of mind that they really know what
they’re talking about in terms of the insurance policy that will adequately
cover you.
Insurance Broker and Insurance
companies

5. Insurance Brokers also analyze the type of business that you’re in. It is their
responsibility to look at that business and determine what coverage is
adequate and endeavor to source a policy in the market that provides the
most appropriate cover available. This does not happen when dealing direct
with an insurer or an insurance agent. With an agent, you are given options
and it is up to you to determine what coverage is adequate for your business.
They do not have a responsibility to ensure that you’re not going to lose your
home if you get sued for making a mistake in your profession.
Most appropriate coverage

6. It is easy to see what the advantages are regarding the insurance broker vs.
insurance agent debate. The insurance broker really does have your best
interest at heart. That is why insurance brokers look after over 80% of
business owner’s insurance needs in Australia. They have great reputations
for making sure that their clients have what they need.
So if you’re searching for professional indemnity insurance, look for it from an
insurance broker. You get better service, better treatment, and you have
more policy coverage choices.
Insurance agent debate

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Website www.optimuminsurance.com.au
Office Location
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Manly NSW 2095
Australia
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