Finding insurance isn’t exactly hard, but it’s not easy. Many times it’s not even simple, and you could really use a friendly ally when applying. These allies exist, and they’re called insurance brokers. When you apply for insurance, you can go through a broker who will help you find insurance policies that work for you. Without a broker’s help, you could end up making one of a few common insurance mistakes.
Buying the First Policy You Find
When you look for insurance, there’s acceptable coverage and cost, and then there’s good coverage and cost. A very common mistake is looking at one or two policies and then accepting one very quickly because it seems decent enough. That doesn’t sound that terrible – the coverage is apparently enough for what you think you’ll use – but it’s a bad move because there may be other policies that offer better coverage and pricing. When you buy insurance on your own, you may not know what to look for or where to look, resulting in you getting mediocre coverage.
A broker has access to more policies and knows more about what’s out there. You might look at one policy and think it’s OK, but a broker could look at it and counter it with a couple of other policies that might be better.
Accepting Coverage That’s Too Sparse
In the U.S., many people are very cynical about insurance coverage. There’s some basis to their claims; stories abound about insurance companies denying health treatments or lowballing claims. A lot of policyholders are resigned to having coverage that’s just not enough.
But that’s a mistake. There are insurance policies for health, auto, homeowners, and more that offer great coverage. Yes, they’re more expensive than the sparse-coverage plans, but the broker can help you find ways around the cost, such as by changing the premium payment schedule or bundling policies. You need coverage that will actually help you, and a broker can help you find that.
Forgetting Certain Types of Coverage
If you’re buying a specific type of policy for the first time, you may not realize certain things about it. For example, not many people grow up knowing that flood insurance usually isn’t part of renters or homeowners insurance; it’s a separate policy. But if you work with a broker, you don’t have to worry about forgetting a certain type of coverage. The broker will make sure that you’ve got everything covered.
Don’t wander around the world of insurance policies alone. Contact Margolis and Associates to speak with an insurance broker in NYC. Whether you need health insurance for a group at work or an individual plan for short-term travel, Margolis and Associates can help you find what you need. A health insurance broker in Brooklyn is an invaluable resource.