The Importance Of Keeping In Contact With Your Insurance Broker

Once a year, a fast inspection and submission of your insurance documentation are insufficient. Whenever you experience a life change, we recommend calling your insurance broker.

What Is An Insurance Broker?

Insurance brokers are experts in more than just insurance coverage. Their education and experience focus on certain insurance types, as well as risk management. An insurance broker assists both individuals and organizations in obtaining the appropriate coverage for their homes, businesses, and families. Many brokers specialize in one type of insurance or within a specific industry. Many others guide various types of insurance. Overall, insurance brokers assist you in locating and purchasing the appropriate insurance at no expense to you.

When you're looking for the best plans for your needs, an insurance broker can help. They don't work for the insurance company; they work for you. On the other hand, brokers cannot bind coverage on behalf of the insurer because they do not represent the insurer. As a result, they turn over your account to an insurance provider or an agent to finish the transaction.

Lifestyle Changes

Do you plan to retire soon, or have you already done so? Your job position may have an impact on your house and vehicle insurance costs, as well as any potential savings.

Do you drive less, or do you use your vehicle for work?

Do you anticipate losing or changing your group health benefits? A call to your insurance broker can assist you in determining your present and future health insurance needs, as well as the options accessible to you.

Or, if you are returning to Canadian, you might need returning Canadian health insurance.

Working From Home

Have you gotten any useful workplace equipment? Are customers visiting you? Additional insurance and a review of your liability coverage may be necessary.

Successfully Paying Down Your Mortgage?

If you've been trying to pay down your mortgage and have built up a large amount of equity in your house, term life insurance may be a better option than your existing mortgage insurance.

If you've paid off your mortgage, let your insurance broker know since you might be eligible for a reduction.

Home Improvements Or An Increase In Resale Or Replacement Value?

The cost of housing is growing in many places in Canada. Do you have enough coverage with your existing condo or home insurance policy? Have you made any changes to your property that have increased its value or security? Make contact with your insurance agent!

Made An Expensive Personal Purchase?

Ensure your insurance coverage covers your jewelry, art, wine collections, and even athletic equipment like bikes and kayaks.

Traveling?

The way we travel has changed dramatically, and the epidemic serves as a stark reminder that we must all safeguard our health and wallets whenever we leave our home province. It's critical to speak with your insurance broker if you plan on traveling or if you've just had a health issue that could influence your travel medical insurance. This can also include health insurance for returning Canadian citizens.

Buying A Seasonal Property Or Cottage?

Know what you're getting into before you buy! Due to a rise in severe weather events in Canada, insurers have had little choice but to impose restrictions on insurance coverage limits or policies in recent years. Learn about the claims history of a home or location you're considering buying, and talk to your insurance broker about available options and potential constraints.

A simple talk with your insurance agent may guarantee you have the coverage you need at a reasonable price, whether you are expecting or experiencing a change in your life or even a home update that you may consider unimportant.

If you are searching for health insurance for Canadian citizens returning or visiting Canada for the first time, Insurance 4U has got you covered.