Buying a car is a big step, so is buying a car insurance. Agreed that buying a car insurance can be a boring and tedious process but a car insurance broker can definitely be of a great help to you. Let us know how:
Who Are Car Insurance Brokers?
Car Insurance brokers are agents who act as a link between you and your car insurance company. Right from purchasing a car insurance policy up to the process of claim, at every stage the car insurance broker works for and on behalf of you. Usually all the car insurance brokers work independently and not a particular company. They have knowledge about all the car insurance companies, their deals and packages and based on this knowledge they are able to suggest you the right car insurance policy for you.
What Are Car Insurance Brokers for?
Here is the list of services that ideally a car insurance broker are meant to be for:
- Finding and suggesting the best car insurance policy that suits your needs
- Illustrating each and every detail of the policy such as benefits, premiums, coverage, exclusions, etc.
- Analyzing your car insurance policy status annually and suggest additional benefits such as riders (add-on) or any latest product available in the market
- Assisting with claim settlement process and representing you in by dealing directly with the insurance company
What are the Advantages of Having Car Insurance Brokers?
The advantages/benefits of having a car insurance broker are:
- They have access to extensive knowledge about the market, insurers, deals and options then you do. Therefore they can help you find a better policy with the best price in the market
- They save a lot of time, money and effort. For instance, while purchasing a new policy from OneInsure app by just filling your basic details like name age and gender you can instantly find and compare policies and on the app itself.
- They keep you away from frauds, issues and make you aware about all the legal requirements
- They keep all the information safe and handy, and use it in case of emergencies. For instance, you can store all your policies on the OneInsure app so that they are digitally available all the time i.e. no hassle of paper work
- They update or inform you at every stage of your policy. For instance, after storing the policy on the OneInsure app, you will get renewal reminders 30 days before your policy is due for renewal or reminders for paying premiums on time.
- They offer a wide range of services for the car insurance policy you hold. For instance, locating network garages on your mobile, endorsement of personal information like mobile number and address with the insurer, and much more
- The most important advantage of having a car insurance broker is that s/he will assist you in settlement of your claim. Car insurance brokers can negotiate with the insurer using their tricks and knowledge
- All the car insurance brokers are regulated by IRDAI and therefore they have to remain committed, impartial and act in your best interests for a single mistake can make them loose their license.
How Do I Choose a Car Insurance Broker?
Along with the services a car insurance broker offers, s/he should be:
- Accessible- What is the use of a broker if s/he is not available at the time of need. Hence a broker must be easily accessible. Some brokers work online like OneInsure and are always available at your service. By visiting such company’s website gives you a clear idea about their experience, professionalism and the quality of customer service they provide.
- Expert- Your car insurance broker must be an expert with deep knowledge and industry experience with a wide range of insurers in its portfolio.
- Trust-worthy- One of the most important criteria is that the broker must be trust-worthy and must be well-know in the market for its services and experience with handling car insurance at a whole.
- Well-updated- The broker must be well-updated with the insurance market, changing rules and regulations. Also, s/he must update you regularly and actively work towards managing your car insurance policy
- Transparent- Every thing should be crystal clear between you and the broker regarding your car insurance policy.
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