Tips in finding the best insurance brokers in Sydney
Interviewing and choosing the right representative out of the thousands of insurance brokers Sydney has to offer can be a much simpler task than you may have originally anticipated. There are a few specific questions that are helpful in order to narrow down the firms that would be a good fit for your business, employees, or home. However, remember not to make a decision to quickly. Knowledge is power when insurance in concerned.
First things first: from any brokers you are interested in you should request a proposal. In this proposal should be five specific items listed for your reference.
What are their qualifications?
This section will include all of the qualifications the broker holds, as well as registrations or specific licenses. Pay close attention to the ASIC number as you may want to verify it later on down the road before hiring.
Do they have a representative?
Every company should have a representative that will control your policy through their office. This is to ensure that you have one point of contact so information is not mishandled or misunderstood.
Details of services
A detail of what services are offered is helpful. This should include death insurance, short or long disability, medical, dental, vision, life, liability, etc.
Breakdown of fees
Oftentimes, depending on the broker, this section will include monthly, quarterly, and annual fees for the service. Also included would be forms of payment accepted.
Do they have references?
This area may or may not be included. If it is not, feel free to request it. This will be past or current clients they cover in order for you to get an opinion from someone who has had direct contact with the broker and company.
Once you have received your proposal, consider requesting the broker to perform a physical presentation for your company as a whole, if necessary. This way any questions can be addressed immediately before any policy is signed or accepted.
A presentation may very well answer some unasked questions like:
- Are the broker and your company a good fit?
- What level of commitment to service is the broker offering?
- Does the broker have any plans or solutions in mind for your company or other individual/family policies?
- How competitive are their prices, compared with other brokers?
Lastly, with any insurance broker with whom you decide to do business set a window period to reevaluate each other and make sure that both parties are on the same page.
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