Benefits of Having An Insurance Broker

It is a common misconception that buying insurance in Nigeria is very difficult and expensive. This belief stems from non-payment of claims and buyers not understanding the scope of their insurance coverage.

When purchasing insurance, it is advisable you buy through an insurance broker or possibly an insurance agent who represents a specific insurance company.

An insurance broker will give you access to a range of cheap and affordable premiums based on your preference(s). Here are some of the advantages of getting insurance through an independent insurance broker:

An insurance broker works for you – not the insurance company.  Your insurance broker is not tied to a specific company or a specific company’s products.  They can search a number of companies and their offerings to find the best deal for you.  A broker will review your personal needs and recommend the best coverage.

Brokers are experienced Insurance professional.  Brokers deal with a wide range of products and services and are qualified to recommend the policies that better suit your needs than a direct insurance agent.

Brokers have experience dealing with losses and can guide you through the often confusing and stressful claims process. Brokers offer faster and more personalized support.

Brokers Protect Your Privacy.  Brokers are required by their Code of Ethics to maintain your privacy and keep all client discussions and information completely confidential.

No Additional Payment. As a client, you do not pay an Insurance Broker, they get paid via commissions from the insurance companies and this does not increase your insurance premium. More-so, the commission paid is regulated and is based on approval rate(s) by NAICOM (Natioanl Insurance Commission).

Having an insurance broker means that you have a professional on your side when choosing the best policy to protect you, your family, properties etc. allowing you to make an informed decision when buying insurance.
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