What Type of Insurance Broker Do You Have?
By David DeMoss CEO and Founder, WAKEUP CALL | September 06, 2015
Much like insurance policies themselves, the brokers who sell them can be as different as night and day. The daunting task of selecting the right insurance policy is difficult enough for most hoteliers, and when you add the various quirks of brokers themselves into the mix, it can be quite overwhelming.
Insurance touches just about everything a business is involved in, (operations, contracts, finances, employees, etc.) so you'll want a broker that understands the importance and responsibility that comes with their position. A good broker does much more than deliver a policy once a year.
First of all, it's important to be aware that an insurance broker can fall into several classifications: the new guy, the low price leader, the networker, the coverage expert, the industry focused, the service provider, the giant, and/or the professional. Remember, brokers are not always exclusive to one or two of these types. Many brokers operate using a combination of traits.
But how can you recognize the type of broker you're dealing with? Which traits are beneficial and which have the potential to cause problems?
In order to have a positive insurance experience and provide the best protection for your business, it is helpful to know what to look for.
The New Guy
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