Why Use a Broker?

Why Do I Need a Broker?

Here are five reasons why you need a broker such as XL Brokerage Inc.

• Reason 1 : Brokers work for their specific client, and in this scenario YOU. You can reach a direct human who will guide you and look out for your best interest. We are not an 800 number or website!
• Reason 2 : Our insight and expertise in the insurance market will help you find the best coverage at the best price.
• Reason 3 : You will have peace of mind as we advise you on suitable coverage for your unique insurance needs.
• Reason 4 : We will save you time as we compare different insurance premiums for your needs. We can also explain the pros and cons of different policies and how they will impact you should a claim arise.
• Reason 5 : Since we work for you, we can provide assistance with claim handling that you will not receive if you go with an insurance company direct.
  

What is a Broker?

Insurance brokers are individuals who gather insurance quotes on behalf of a purchaser. They are different from agents in that agents represent the company selling the insurance, while brokers represent the party buying insurance. Brokers can be either retail or wholesale. Retail brokers are those that interact directly with insurance buyers.

What is an Agent?

An insurance agent is an individual who sells insurance on behalf of an insurance company. They are different from brokers, in that brokers represent the party buying insurance, while agents represent the company selling the insurance.

Agents can be either captive or independent. Captive agents are representatives of a single insurance company and sell policies exclusively for that company. Independent agents sell policies for many companies.