Is “Good Enough” Insurance Good Enough?
- Katelyn McKeone
- Oct 11
- 2 min read
Updated: Oct 26
Close your eyes and point to a policy at random. You’ve been considering this for hours or even days, but you’re worried about finding yourself with a terrible policy. However, even with hours of research, you’re not sure if you’ll avoid such a fate.
It seems like choosing a good insurance policy requires a degree or certification, but you don’t have the time, interest, or energy to try and get one. Once again, you see the one-size-fits-all policies and wonder, “is good enough insurance good enough?”
How to Buy Insurance?
Traditionally, insurance has been sold from agents who work for an insurance company. They can offer policies from their own company and pressure you to stop your search and purchase immediately. This can be pretty intimidating. However, buying a policy from an employee of the insurance company is old-fashioned and obsolete. The new way to buy insurance is with an insurance broker.
What is an Insurance Broker?
An insurance broker is someone who is experienced in the industry and can compare offers from multiple insurance companies. While brokers work alongside insurance companies and have partnerships with them, brokers are not their employees. Insurance brokers advocate for your needs, not the insurance companies’ needs.
How is an Insurance Broker Paid?
If they’re not employed by an insurance company, how do brokers make money? Every insurance policy includes a servicing fee. This fee goes to whoever sold the policy, whether that’s an insurance broker or an agent.
An insurance broker is paid by the insurance fee, rather than an additional charge to the policy purchaser. In other words, the broker service is free.
So is good-enough good enough?
A one-size-fits-all plan may provide you with the coverage you need, but it won’t be tailored to you and your specific situation. Knowing that a brokerage like Perks will not cost anything extra, there is no need to settle for good-enough. Simply choosing an insurance broker will save you time and leave you with a plan that has all the coverage you need and nothing that you don’t need.
Don’t settle for good-enough insurance. Call us today and get started on the path to finding excellent insurance that you can be confident in.
+371 26 668 558