3 Questions to Ask Your Insurance Agent

One of the best things about working with the same insurance broker on a regular basis is that you can build a rapport with them. Having ‘insurance rapport’ means you have trust that your agent will set you up with the best insurance for your business.Not someone else’s business - your business.Ok, so how do you go about building this rapport? A good place to start is by asking your insurance agent some important questions pertaining to your specific needs.For example, you could start off by asking them ‘Do Transformers buy life insurance or car insurance?’… and while this is most certainly a totally valid question, it won’t necessarily get you the answers you need at this point in time.Here are 3 questions you can ask an insurance agent when developing a relationship with them.

  1. What exactly does my insurance policy cover?

Let’s say, you have been recommended to go with certain insurance products for your business. It is important to make sure you ask the agent to explain in detail, what the policy covers. This can help you make sure the policy meets your needs, as well as that you understand what your responsibilities are in order to maintain this coverage over time.

An added benefit of working with the same agent over time, is that they can provide ongoing support and be in touch with you should any changes come up – or there are any other details that require your attention.

2. Can I take advantage of a multi-policy service?

Another great question to ask relates to the idea of having one or more policies through the same broker. For example, if you already have your business policy through the broker, you may also want to add in vehicle insurance and even home insurance. This way your broker can help you manage all of these policies ‘under the same roof’

Sometimes, bundling is also an option, and there is an opportunity to receive discounts and reduced fees by doing so. It never hurts to explore this possibility by asking, as it can have many benefits for you.

3. Do I need to extend my coverage based on where my property is located? (ie. flood zones, wild fires, etc).

Last, but not least is the question of extending your coverage. With all of the extreme weather events we have seen across Canada in recent years, another key piece to your insurance is taking into account if you reside or work in a region that is susceptible to floods, fires, and other potentially damaging seasonal conditions.

Making sure you have added the necessary coverage can help to give you the extra peace of mind you need. And should anything like this happen, your business – and your livelihood is well protected.

At Leaders Insurance, we highly value the relationships we have build with our clients.

And while our Transformers query from earlier may remain a mystery for now, your insurance agent can answer all of your other equally important questions.