Buying insurance can be a very confusing and intimidating process. Insurance policies are dense and complicated documents, insurance companies can be monolithic and faceless, and consumers often do not know the right questions to ask to make sure we are getting the best deal possible.
When it comes to something as vitally important as protecting your home, vehicle, business, and future, the expertise and personalized service of a certified insurance broker such as those of us at Lane’s can make a huge difference. There are major benefits to pairing with an insurance broker. Here are just a few of them.
1. Brokers work for you, not an insurance company
One of the largest advantages of working with a broker is that they represent your interests — not an insurance company’s. Regular insurance agents are tied to a single insurer, meaning they are only able to provide the specific products available from that company at that particular time. Insurance brokers are independent professionals who work with multiple providers with the goal of finding you the best coverage at the best rate. Our independence gives us access to a wider range of products and pricing and the freedom to shop the market on your behalf.
2. Brokers offer objective advice
Insurance can be complex, especially when you’re having to do the comparison of policies, coverage limits, exclusions, and endorsements all on your own. Our job as brokers is to explain your options in plain language and help you make informed decisions based on your needs, not on what’s easiest or most profitable for a single insurer.
It doesn’t matter if you’re insuring your first home, adding coverage for a new vehicle, or running a small business, we are there to provide our unbiased, expert advice every step of the way.
3. Customized coverage that fits your life
Insurance companies often use internet platforms that rely on complicated formulas, templates, and assumptions to create your quote for you. These platforms make it easy to call up for a quick quote, but they rarely account for the nuances of real life.
A broker will take the time to ask the right questions, such as :
- Have you done renovations at your home recently? Renovations add value to your home that should be represented in your coverage. In addition, including anything like better windows or a home security system in your renovations can actually lead to discounts on your coverage.
- Do you have expensive jewelry, electronics, or art? Items such as these are subject to special limits that are often not enough. For example, the usual special limit for jewelry is $5,000, which will not even cover a wedding and engagement ring in most cases.
- Are you using part of your home for a business? This is incredibly common for small business owners, and it’s also incredibly common for insurance coverage to be low on the priority list. You likely need home-based business insurance to cover your inventory, office furniture, and equipment. Home-based business insurance will also cover you for damage to your home due to a covered loss, and provide liability coverage for employees, delivery people, and your clients and customers.
- Do you commute long distances or use your car for rideshare? Driving long distances to work should be noted in your coverage. If you are in an accident on the way and your provider discovers you did not disclose your lengthy commute, your coverage could be considered void. In addition, if you use your vehicle to earn an income, you require commercial vehicle insurance unless you are already covered through a company such as Uber.
This deeper level of understanding of your lifestyle helps brokers tailor your policy to suit your actual lifestyle and risks.
4. Support when you need it most
Many assume that brokers have nothing to do with the claims process. This is possibly the largest misconception of what we do! We are here to act as your claims support team and guide you through the process, step by step. We can help communicate with your insurer and assist you in resolving issues efficiently. We definitely don’t just disappear once we have sold you your policy. We are in your corner for the long haul.
5. Ongoing policy management and reviews
Life changes, and your insurance should change with it. Whether you’re moving, starting a business, buying a new vehicle, or welcoming a new family member, your insurance needs will evolve throughout your lifetime.
It is part of our mandate here at Lane’s to stay in touch and offer regular policy reviews. That kind of long-term relationship is another major benefit of an insurance broker and means you’re always properly covered and not overpaying for things you no longer need.
6. Local expertise with a personal touch
Especially in places like Alberta, where residents have watched several changes occur to their vehicle insurance over the last few years, having a broker who lives and works locally is a major advantage. We know what is happening, when it is happening, and thoroughly understand incidents like Alberta’s frequent floods, wildfires, and hail storms.
- Brokers can save you money
The final major benefit to using an insurance broker is that we can save you money. In many cases, we have access to exclusive rates or coverage options not available to the general public due to our long-standing relationships with our providers and our ability to bring them the very best clients for their policies. In addition, we also know how to get you discounts you probably didn’t even know you qualified for,
The bottom line …
Lane’s Insurance is a leading Alberta-based brokerage, offering highly competitive rates on all of your insurance needs. We are pleased to serve homeowners and business owners throughout the province. Contact us at:
