Is An Insurance Broker Really Just Another middleman?
and why do so many dislike the middleman?
An insurance broker in Jackson, Mississippi represents many different insurance companies (the providers), helps their clients (the consumers) navigate the insurance industry to find the products they need, and translates the jargon commonly contained in the insurance contracts. Insurance brokers dont receive money directly for their services, but are paid by commission from the insurance companies instead.
What the Middleman Typically means to Consumers
Americans are known for their sense of individuality, their personal drive, and their strong sense of independence. In most cases, we dont like to be told what to do or be required to do something we dont want to do. We also dislike being taken advantage of by anyone.
To that end, many consumers perceive the middleman as an unnecessary third party. Websters dictionary defines middleman as an intermediary or agent between two parties; especially a dealer, agent, or company intermediate between the producer of goods and the retailer or consumer.
Often, consumers make the mistake of lumping insurance brokers into that unfortunate bucket called middleman, and thats a mistake. Well tell you why.
3 Reasons to Love your Mississippi Insurance Broker
We know why consumers are wary of insurance brokers, but lets dispel those myths once and for all based on the key factors important to every consumer.
1.Insurance brokers make their money through commissions which are paid by the insurance companies. If they sell a lot of insurance, they get a better commission, but they also get something else - better prices on the products they can offer their clients. An insurance company with a knowledgeable, high-selling insurance broker knows they dont have to work as hard at the sales process. These companies are then willing to discount the insurance products to their highest volume insurance brokers - a fact that often saves the consumer money in the end.
2.No one has time to be an expert in everything and when youre trying to find the right insurance products for your personal life or business, having an expert on your side can make all the difference in the ease with which you solve the problem of your insurance needs. In addition, the right insurance broker will keep an eye on your situation, note the changes that affect your risk and help you manage those risks before you get a nasty surprise.
3.Because insurance brokers work directly with the insurance companies and know their products inside and out, the consumer gets a quick solution to the problem of personal or business insurance needs. Not only that, when a claim is necessary, the speed at which that claim is handled is improved simply by the fact that an experienced insurance broker is managing the process.
When shopping for an insurance broker in Jackson, Mississippi, youll want to ask a few key questions to ensure that you are getting the best possible cost, ease, and speed in your insurance products. These questions are:
1.How long have you been in business?
2.What are your processes to provide assistance with claims?
3.How many insurance providers do you represent and what are the savings you can reasonably expect to help me earn?
Be careful with brokers that often switch to new insurance carriers because they are generally switching to earn higher commissions - a savings they may not pass on to you. Its never advisable to switch carriers without careful thought and examination of the insurance coverage details. A trusted insurance broker in Jackson, Mississippi will not expect you to make rash, unexplained decisions with regards to your insurance.
by: Project
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