Is this the first time you’ve heard about a licensed insurance broker? If you haven’t got any idea of the scope of responsibilities that a broker must deliver if you hire their services, here are some facts that will enlighten you further.
A licensed broker can represent a particular insurance company
If you are going straight to an insurance company for the purchase of your tunnel boring machine insurance policy, you will most likely encounter a licensed broker contracted to the company. The broker will be tasked to attend to your specific needs, discuss the various insurance products ideal for your tunnel boring machine and give advice about what type of protection id ideal for you and the nature of your business’ operation.
A licensed broker can work independently
There are instances where a licensed broker may decide to work solely independently. If you come across an independent licensed broker, chances are he or she can act as middleman when talking with insurance companies. An independent broker is expected to be loyal to anyone who hires their services. In fact, the independent insurance broker will represent the potential buyer planning to buy an insurance policy. The broker’s role is to mediate and facilitate the fast processing of the client’s tunnel boring machine insurance policy application.
A licensed broker can be receive payment in the form of salary or commission
A licensed insurance broker can be paid either by salary when employed or commission if he or she works independently. An independent broker can charge higher fees, especially if they hold a specialisation in certain insurance products like a tunnel boring machine insurance policy.
How can the licensed broker be of assistance to you?
The following are the exclusive services of a licensed broker working independently. This expert can:
Get you free quotes
Give professional advice regarding your choices of protection coverage
Explain terminologies which are new to you
Help you see the bigger picture when covered with the tunnel boring machine insurance
Provide you with access to a long list of accredited insurers in your area
Negotiate a good deal for your insurance protection coverage
Assist you in filing the insurance claim
How to contact an independent licensed broker?
If you decide to use the services of an independent licensed broker, here are suggestions for contacting this professional quickly:
Visit an online insurer’s website and ask if they have affiliated independent brokers.
Check local newspapers for professional ads posted by independent brokers.
Ask for referrals from friends, relatives or other acquaintance using the services of an independent broker.
Use social media to find groups relevant to your search “independent brokers” and send them personal messages.
I hope by this time you have a better understanding of the role of a licensed broker, either employed by an insurer or working independently, to help you decide wisely with whom to entrust the purchase of your tunnel boring machine insurance policy.
Earthmoving Insurance HQ are a team of brokers who are experienced in the earthmoving insurance sector and will provide you with obligation free quotes and also discuss with you your insurance needs to find the best insurance product for you. Call us today on 1300 815 344 or go online and request a quote.