Insurance Brokerage – Frequently Asked Questions
What is an Insurance Broker?
A broker is not an insurance agent, but a neutral party that assists an insurance buyer with purchasing the right coverage.
As Brokers, we at Bigger & Company are dedicated to finding you the best insurance options to meet your needs. We assist you to determine your needs, present you with options, and help you to make the best decisions about your purchase.
Why should I use an insurance broker?
When you purchase insurance directly from a particular insurance company, you may miss out on options that would more effectively meet your coverage needs.
A broker is aware of all of the companies and all of the policy options, and can help you to identify your requirements (some you may not have determined yourself), will educate you on the appropriate coverage levels, and can manage the purchase process to minimize challenges for the client.
Is there a fee for your service?
No, you do not pay a fee for our services. Your insurance rates will not be higher than if you made the purchase directly. In fact, you may save money by engaging us, as we ensure that you are obtaining the correct level of insurance (and not over-insuring yourself or your business).
We are compensated by the insurance company when a policy purchase is made. That decision lies with our client, we do not make the ultimate selection, and we do not have agreements to bring business to any particular company.
Do you encourage clients to purchase from a particular set of insurance companies?
No, we do not.
Our goal is to match our clients with the right insurance options for their particular needs. Our client is our priority.
We will present you with numerous options, and present the ‘pros and cons’ of each one.
You will ultimately make the selection that is best for you.
Are you a financial consultant?
No, we are not. A financial advisor is employed to assist the client in making investments, with the goal of building wealth.
Our role is that of an ethical fiduciary, someone who maintains a high ethical standard of conduct when advising their clients. Our role is to consult and to assist, not to sell insurance policies or other financial services.
Our clients and meeting their insurance coverage requirements will always be our #1 priority.
What does the process look like?
Since every client is unique, we will begin with an interview to determine your insurance requirements. Once we’ve identified the appropriate level of insurance required, we’ll do a needs vs. expenses analysis, and based upon that will assemble a set of options, and present them with considerations like price, coverage levels, etc. Once the client has decided on the option that best fits them, we will facilitate the purchase and make sure it is completed as smoothly and quickly as possible.
When it’s time to develop and execute a financial plan that enables you to meet your goals, let Bigger & Company walk you through the process step-by-step. Contact Us and let’s get started!