Thoughts and ideas from villaNOVA Insurance Partners
Dispelling 5 Myths About What An Insurance Broker Consulting Firm Does
January 27, 2020 at 5:00 AM
by villaNOVA Insurance Partners
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One of the toughest challenges faced by insurance brokers comes from the circulation of bad information about what our profession does. Most people do not come into contact with insurance or other financial services for that matter, on a daily basis. 

This lack of information does not normally negatively affect their life - until they need to make sound decisions on insurance policies. Everyone wants the best coverage for the lowest prices, but not all understand that brokers provide most with their best chance to get a great deal. 

Our consulting firm helps clients to obtain the best insurance coverage for a variety of needs, including home, life, auto, and business.

To help more to understand how we operate, we are dispelling some of the biggest myths about our profession.

MYTH 1: Brokers Work For Insurance Companies

In most cases, brokers never work for a specific insurance company. Instead, they work for their clients’ best interests and maintain an objective stance towards the companies they deal with.

Only through working completely independently of insurance companies can broker agents help you, the client, obtain the most effective coverage for the least cost.

MYTH 2: Brokers Cost More Money Than Directly Dealing With a Carrier

Insurance carriers work with brokers in a similar way as with their in-house sales staff, except for the understanding that brokers work independently. Brokers earn money from an insurance carrier through commissions paid by the company.

In almost every case, those commissions are similar to what in-house sales staff make.

Since brokers generally do not charge the client extra fees, this means that the cost of getting insurance through the broker remains comparable to that of going directly with a carrier, just far easier.

MYTH 3: Brokers Never Work Directly With Clients

The best brokers make a point of working closely with clients. At villaNOVA, we want to develop long-term relationships with clients. Knowing their situation, needs, and concerns from the beginning help us to help them get the right coverage.

Without that essential detail of communication, we, as broker agents, could not do our jobs properly.

MYTH 4: Brokers Are Not Trained Insurance Agents

Insurance brokers are trained and certified as agents. At villaNOVA, we employ a number of agents with years of experience serving their clients’ best interests. 

No reputable insurance company will engage with an independent broker without proper training and certification

MYTH 5: Brokers Never Reveal All the Information a Client Needs to Make a Sound Choice

All ethical brokers, such as those who work for villaNOVA, understand that, in this business, transparency is a must. 

To provide the best service to our valued clients, we engage in total transparency. We communicate every emerging detail, regardless of whether or not the client will see it as good news. Hiding information and deceiving clients is not only bad for business, it is against professional ethics and, in some cases, the law.

At villaNOVA we strive to build the best possible relationships with our clients. That means working with them in depth, remaining responsive to questions and concerns while looking out for their best interests.

Reach Out Today

Need help finding the best policy for your automobile, home, life, business, and more? Turn to the independent professionals at villaNOVA for the most comprehensive insurance broker services in the region.

We will be happy to discuss how broker services can help you and answer any questions you may have. If ready to work with us to shop for better insurance, we can schedule an appointment today.