A corporate insurance broker is generally someone who represents the buyer while working to obtain the insurance coverages that are needed. Brokers specialize in retail or wholesale, and in some cases, one entity will operate as both.
What Does a Broker Do?
Once you visit their location a broker will get to know you and your business and then obtain the correct coverages for you. If a retail broker is unable to get coverage for you, they may get in touch with a wholesale broker who will have specific, specialty areas they work in to obtain needed insurance coverages.
Where Can You Find a Good Broker?
It easy to start with an online search to get ideas of brokers in your area and their general reputation. From there, here are a few ideas on how to get started finding your best broker.
Word of mouth
Ask around. Other business owners are often happy to share the names of people who have provided them the best service.
Visit and interview Several Different Brokers in Your Area
Don’t settle with the first broker you meet. Evaluate their experience and knowledge to see if what they offer truly fits your needs.
Review the Broker’s History
See if the broker’s licenses are current and check out their social media pages. All of these can give you an idea of their character and how they do business.
It can be daunting to find the right corporate insurance broker, but it is an important task. You are potentially putting the fate of your business in their hands if you ever need to make a claim, so take your time and choose wisely.