Insurance buying, in general, is a bit complex and it becomes even more intricate when you are working around business insurance. For one, you need to know the kind of insurance you legally abide to buy. Secondly, you need to find the right plan in that category. The Myriad of options in the market offered by various companies makes the choice more difficult. However, buying business insurance in Melbourne with LAI Insurance Brokers and leveraging their expertise can be of great help.
Insurance brokers help you navigate through the complex process of buying insurance. They speed up things from picking the right plan to getting the claim. But you can only get these benefits if you team up with the right broker. Someone who understands your business and has ample experience in your industry. Here are some questions that you must ask your prospective broker who can make your insurance-related work seamless.
What and how much experience do you have in the industry?
A broker might be excellent for logistic business but may not prove effective in the construction business. It is no brainer that the state rules, industry standards, and general guidelines are different for different types of businesses. For that reason, only a broker who has significant experience in your specific industry can deliver quality services. He or she would know frequent issues and questions they would need to troubleshoot or answer. They can identify your most valuable assets and can secure appropriate cover for them. For example, if your deal in selling or repairing cars, you want a motor trade insurance broker who can assist with your specific business needs.
Will you provide a dedicated account manager for us?
An insurance broker not only needs to keep you secured but also has to make you feel supported. This is crucial to built trust and also allows you to operate freely and confidently. This faith cannot be built if you have to reach out to a different person every time to find the answers to your insurance-related questions. Having a dedicated account manager ensures that you have a single point of contact and eliminates the need for explaining your business and case-related nuances repeatedly.
How long you have been serving businesses for insurance?
The time a brokerage firm has spent in the business can give you a clear idea about the level of consistency and experience it has to offer. You can check the firm’s track record to find its stability in the market and assess its performance using KPIs such as success rate and customer happiness index.
What are your chargers?
In general, brokerage firms get their payments through the premiums of your insurance plan. This means, you do not have to pay them directly, rather they will get their share as some percentage of your premiums. However, some companies may charge additional amounts for some services. You should ask the company to completely transparent about such charges to avoid unpleasant surprises.
Do your services include support in the process of claims?
When it comes to handling claims, brokerage firms offer varying levels of services. You need to team up with the one who is well-equipped and offers support in the entire process. Choose a broker who plays an active role in putting your business in the best possible position and ensure a high level of claim services.