Posted on: May 4, 2022

Insurance brokers are here for you in a claim

Many people know that an insurance broker can compare different insurance products and provide advice to help you choose the best cover for your unique needs. But the value of a broker extends far beyond insurance placement. This has been demonstrated recently with the natural disasters Australia has seen. From bushfires to floods, having a broker by your side during the claims process proves invaluable.

They read the fine print for you

It’s essential to read the fine print before you sign for anything in life. But often, the fine print is full of legal jargon and technical language that can be challenging to understand.

With the expertise of an insurance broker, you’ll have specialist guidance to navigate policy wordings and policy terms and conditions, so you can be confident the document you’re agreeing to is the right fit for your business needs, to come through for you in a claim.

Insurance brokers help you through in tough times to achieve a painless claims process

Claim-time is often where people need the most support. Regardless of what your insurance claim is for, there can always be an element of stress, and being overwhelmed when commencing the claims process is all too common.

Your insurance broker is there to support you throughout the claims process. From lodging the insurance claim right through to settlement, a broker can help manage the entire process on your behalf.

With a broker on your side, you’ll receive a more personalised service. If any issues arise during a claim, your insurance broker is your dedicated point of contact to guide you through. You won’t need to worry about trying to communicate and re-tell your story to many different people in a call centre who don’t understand the ins and outs of your business. Insurance brokers are your advocate and seek to achieve the best possible outcome for you in a claim.

They handle negotiations

The outcome of insurance claims is not always black and white. When there are grey areas regarding your insurance claim, your insurance broker is there to advocate for you. Their professional training and experience arms them with highly technical knowledge of policy wordings, so they can step up and negotiate on your behalf, provide any additional information about your case, and assist in helping you achieve a favourable outcome.

The numbers stack up

report by Deloitte found that brokers’ clients are more than twice as likely to be fully covered for their claims. They also had a higher amount of loss covered; 87% of broker users were covered for more than half of their claim, versus 74% of direct buyers.

The study also found that when brokers played a role in their clients’ claims process, the client felt as though their claim was much less complex. In fact, 41% of small to medium-sized businesses expressed that their claim would have been more difficult without their broker being there to advocate, manage the process and offer support during a time of crisis.

You’ll achieve a better outcome

Brokers work for you, not the insurance company. So you can be sure they’re going to do their utmost to achieve the best possible outcome for you.

Insurance brokers deal with insurance products every single day. They’re experts in the field. So, when it comes to making a claim, they know exactly what information to include to give you the greatest chance at a favourable outcome.

Deloitte also found that when brokers are involved in the claims process, an average of 2.5 hours can be saved. They get the job done quicker and often with a better outcome!

Your insurance and risk management specialist

An insurance broker is so much more than someone who provides insurance policy solutions. They are professional advisors who build their business on advocating for clients to not only find the best available cover, but to also act on the clients’ behalf to ensure support is available in the greatest times of need – claims. Claims are the point at which insurance has tangible value and an insurance broker is integral to achieving this.

If you would like the comfort of knowing your cover and claim is taken care of by an insurance and risk management specialist, please get in touch with us.

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