What Are the Advantages of Working with a Broker? (2024)

When purchasing insurance for either yourself or your business, it’s important to use a broker to make the process of getting insurance easy! Here are some of the advantages of using a broker:

Knowledgeable. A broker brings their extent of knowledge to you. They take over the time-consuming work of researching multiple insurance plans, and then make the best recommendations for yourself, employees, and/or your company. They are well versed and highly trained in their industry and are aware of trends, impending changes, and competitive threats.

Negotiation. Brokers work with numerous insurance companies that’s why they aren’t tied to one company. They consider multiple plan options and negotiate on your behalf to find the best value for your coverage. Their expertise and existing relationships with various companies give them a broader understanding of the offerings available.

Customization. Brokers ask a lot of questions to understand your needs fully. They help you find different insurance options to fit your budget. One of the best advantages of hiring a broker is advising you on how best to customize your policy in ways you may not have considered.

Supportive. You can expect your broker to work hard to get you the best insurance plans available, but you may not know their services can go beyond selling. Once you have chosen your plan or plans, your broker can assist you during your employee enrollment period. After the enrollment period, they are your first resource to contact when you have a payment dispute, billing questions, or need assistance.

Renewals. The best brokers stay in touch with you regularly so you’ll be well informed when your renewal period is near. Ideally, the renewal process will start 60 to 90 days before the renewal date with a strategic-planning meeting to set goals for the year.

Cosmo Insurance Agency is a full-service independent insurance agency based in Hackensack (Bergen County) and Lakewood (Ocean County), New Jersey that offers an all-encompassing range of insurance options for both individuals and businesses. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating our knowledge of the insurance guidelines for healthcare, employee benefits, life insurance, self-insurance, dental, disability, and long term care insurance, we keep our clients up-to-date with affordable plans that cover all their specific insurance needs.

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