Do You Recognise the 3 Early Warning Signs of a Bad Insurance Broker?

While most insurance brokers are trustworthy and honest, the industry can have a few bad apples who don’t follow best practices. So, how can you tell if your insurance broker is not the best? 

Here are a few early warning signs of a bad insurance broker. With these tips, you’ll be able to rest assured that your broker is providing the best service for you. 

  • Pushy sales tactics: Be wary of insurance brokers who seem to be pushing you to accept a policy by a certain time.

    A trustworthy, ethical broker will provide time for consideration and questions about coverage options. They allow you to make an informed, unrushed decision.

  • Broker flies solo: If your broker runs the firm entirely by themselves, this may be a warning sign that they won’t have enough time to properly advise you.

    Also, in the long-term, it’s better for you to engage with an insurance brokerage with backing and that will be there long term, rather than an individual broker. 

  • Lack of trust & communication: Trust is very important in the financial world, so make sure you feel that you can trust your insurance broker to give you the best advice.

    To build trust, ask them about their qualifications; your broker should have earned their Qualified Practising Insurance Broker or Certified Insurance Professional status.

A good broker will communicate regularly with you and follow a schedule with you for phone calls and meetings. If you find that you’re constantly having to chase up your broker, then this may be a sign of poor communication. 

Choosing an insurance broker can be a challenge. You need to consider factors like price, location, reputation, and experience to make sure you get the best advice and service. 

Just like an accountant or lawyer who provides you with professional advice based on years of training and experience, a qualified broker can do the same with your insurance.

Insurance can be incredibly complicated to fully understand. A broker helps you understand the levels of risk you or your business faces, the details of a policy and also helps to ensure you come out with the right level of cover at the right price.

Protecting your valuable assets with the right insurance is critical for your financial security, now and in the future.  

If you’re looking for a quality insurance broker, turn to Regional Insurance Brokers. We provide expert advice, value for money, peace of mind and real, authentic service. Contact us for a quote today. 

Why Regional Insurance?

At Regional Insurance, we have over three decades of experience serving Queensland communities. We pride ourselves on our excellent service and expertise in insurance for a range of industries. We’ll make choosing a policy, assessing your risks and making a claim simple with our personalised service to save you time, money and stress.
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