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Benefits of Using an Insurance Broker for Car Insurance

Whether buying your first car, looking to insure your next vehicle, or switching insurance carriers, finding auto insurance is challenging. With so many options to choose from and decisions to make, you might benefit from professional guidance from an insurance broker for car insurance.

Insurance brokers act as your personal agents, helping you by finding the best deals and answering questions regarding, coverage, policies, claims, etc. Here you’ll learn about the numerous benefits of using an insurance broker when purchasing a car insurance policy. Let’s take a look!

They Work for You

Each insurer has their agents who work on their behalf. By contrast, insurance brokers are independent entities who work for the clients. However, they’re connected with numerous companies, which allows them to find the best insurance rates based on the client’s needs.

Plus, using a broker when you have to file a claim will help get things going much faster than if you have to rely on your insurance company’s agents.

They Provide Personalized Services and Insurance Education

There is another reason it benefits you, as insurance brokers aren’t employed by a specific insurance company. Due to this, they’ll aim to provide the service you truly need and not what an insurer is trying to sell you.

An insurance broker will evaluate your needs objectively, and based on their report, advise you on which policy to get. When buying an auto insurance policy through a broker, you’ll be represented fairly and won’t have to worry about biased opinions. They’ll provide honest information about the policies, coverage, quotes and fees.

If it’s your first time buying car insurance, an insurance broker will also educate you about relevant laws, regulations and practices. If you’ve bought vehicle insurance before, but a long time has passed, the broker will inform you about any changes in the law or insurance practices that occurred in the meantime. This has the benefit of ensuring you are aware of how these changes will impact your rates.

They Have an Extensive Knowledge of the Local Insurance Market

Having a minimum liability insurance for your vehicle is mandatory in Canada. However, the various provinces might have specific rules about what coverage you should have in their jurisdiction. Insurance companies and their agents are typically concerned by the federal requirements, but the rest of their efforts are put towards selling their products and services.

Insurance brokers are more likely to be familiar with local coverage regulations. By using them, you can ensure adherence to these laws. For example, in some places, the standard policy must include coverage for uninsured vehicles, direct compensation for property damage, and statutory accident benefits, while in other provinces, other factors can be mandatory.

In some places, the law recommends only a minimum of $200,000 in third-party liability coverage, but your broker might recommend a much higher coverage based on their experience and your risk factors.

local insurance market

They Can Help You Save Money

Car insurance policies can be expensive, so it’s a good idea to shop around to find the best deals. However, this can be time-consuming, and many will give up on saving money and just go with the first policy they find.

This is understandable because having car insurance is mandatory, so everyone wants to obtain coverage sooner rather than later. However, a broker can save you plenty of time by researching policies on your behalf and finding the most affordable options.

Not only that, but they’ll also be up to date with current discounts and deals offered and see if you can qualify when purchasing your policy. If you do, these will lower your premiums without having to pay anything in return. That’s right. Insurance brokers are almost always paid a fee by the insurer in exchange for getting you to purchase your insurance through them.

They Can Assist with Claims and Settlements

Handling claims and settlements is even more challenging than buying a policy but insurance brokers are there to help you with this as well. They can file a claim on your behalf, help you gather evidence to support it and negotiate a fair and timely payout from your insurance provider.

They Can Help with High-risk Auto Insurance Coverage

If you have too many unpaid premiums or previous accidents, you may not qualify for regular insurance coverage. Even in this case, an insurance broker will help you navigate high-risk auto insurance policies.

Similarly, if your insurer cancels your policy or declines to work with you in the future because you become a high-risk client, the broker will assist you in finding a different option. They might also offer suggestions on how to cease being a high-risk insured.

auto insurance coverage

Final Thoughts

If you’re looking for vehicle insurance coverage, consider reaching out to an insurance broker. From helping you find the best rates and coverage options based on your needs to educating you about the auto insurance process, insurance broker for car insurance can assist you in buying your next car insurance policy.

With their extensive knowledge of the local insurance market and experience handling claims, they can provide you with a personalized experience. If you’re interested in finding a great car insurance policy, contact Marathon Insurance today and we’ll happily guide you through your options.

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