Why work with a business insurance broker?

Helping you navigate your insurance needs

A male broker shaking hands with a client.
A male broker shaking hands with a client.

Insurance can be complicated, but it’s important – too important to ignore. For many people, this can mean stress, confusion, and headache as they try to compare insurance policies and choose the right coverage. If the time comes to file a claim, the worry can flood back in: what if you don’t have the support you need to recover from your loss?

A business insurance broker wears many hats – they can use their knowledge, experience, and insight to guide you through the entire insurance process.

Who are business insurance brokers?

A broker acts on behalf of you, their client. They will take the time to understand your background, your current needs, and your expectations to help you identify the risks your business faces every day. Once you’ve narrowed down the risks, your broker will help you better manage those hazards, determine the appropriate type and extent of coverage you need, and find the best business insurance solution for you.

Insurance brokers have a fairly broad scope of expertise, from advising on general risk management to navigating specific insurance offerings. What’s more, they can communicate this technical information clearly and concisely to their clients.

Not all business insurance brokers are the same: some specialize in one particular type of insurance, while others deal with a variety of sectors and products, and they could either work independently or for a brokerage.

What are the advantages of using a business insurance broker?

All you need to stay protected is an insurance policy from a reputable insurer…right? Not so fast. Working directly with an insurance company is one option, but here are four good reasons to add an insurance broker to the mix.

Insurance brokers not only provide a human touch, they offer a wealth of support at each step of the way. In the end, a direct line to a proactive broker who knows your industry could improve your entire insurance experience.

Not only do brokers know the insurance industry, but they’re generally great with people. After all, they’ve chosen to work face-to-face (and phone-to-phone, or screen-to-screen) with their clients to thoroughly understand their needs. When you craft a relationship with a friendly and competent broker, you could enjoy more peace of mind – and that’s a major bonus.
Do you find legalese difficult to understand? You’re not alone. Fortunately, brokers are trained to carefully comb through the fine print in order to make sure no important detail gets overlooked. This skill comes in handy when comparing terms, conditions, benefits, and exclusions across a number of insurance policies.

If you’re shopping for insurance to suit a unique small business or specialized industry, you’ll probably benefit from some professional guidance. Insurance comparison sites won’t help you navigate the finer points of every insurance policy, but an insurance broker can help weigh the available coverage solutions and bundle your policies in a straightforward and cost-effective way.

Providing the required information, knowing which questions to ask, and understanding the next steps – all while dealing with the stress of a recent loss – can be overwhelming. A broker can ease that burden by helping you file a claim, and communicating with the insurer on your behalf until the claim is resolved.

How do you connect with the right broker?

Deciding to work with an insurance broker is the first step; now you need to find one that’s right for you. If you’re looking for an expert with a strong reputation and a good amount of experience with business insurance products, look no further than our network of preferred brokers.

Northbridge Insurance has partnered with hundreds of reputable Canadian brokers to make the insurance process easier and more fruitful for all of our customers. We know that a good broker relationship depends on comfort and communication, so we’ve made it easy to find a broker who will work well for you and your business.

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