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If you’re looking for a new home insurance policy, it’s a good idea to brush up on the finer points regarding this type of coverage. Aside from the basics, you should be aware of the common reasons why claims can be denied and of the advantages of securing your policy from an insurance broker.

The Home Insurance Basics

You’ll want to make sure the insurance policy you select fits your needs. This means that it should provide coverage for the types of damage you might have to deal with. If you’re looking for home insurance in Edmonton, it’s important to choose the right deductible: a lower deductible means higher premiums and vice-versa. Your deductible is the amount you are responsible before your policy will respond if you experience an insured loss.

Finding the Right Coverage for Your Needs

One reason a claim might be denied is that your policy doesn’t cover the type of damage sustained. It’s often difficult to know what types of risks are covered by your policy, which is why taking the time to choose the right one is important. By reviewing your coverage options with a knowledgeable insurance broker, you will ensure you never have the bad surprise of discovering you’re not covered for a particular type of loss.

Be Diligent About Home Maintenance

Any damage that occurs as a result of poor maintenance and upkeep of your home won’t be covered by your insurance policy. This may seem simple, but keep in mind that a small issue can snowball into a serious problem. If that problem could have been prevented by proper maintenance, chances are your claim will be denied.

Stay Up to Date on Payments and Paperwork

If you’re late on premium payments or there are inconsistencies in your application, your claim might be denied. In the event of a claim, it is your responsibility to prove your loss. We recommend keeping receipts in a separate location than your house should you have a total loss.

Our Brokers Are Committed to Finding You the Right Insurance

Finding the right insurance can be a challenge, but working with an insurance broker simplifies things substantially. If you’re in Edmonton and looking for a homeowner’s insurance policy, consider MBS Insurance Brokers. Our brokers know the ins and outs of the house insurance market in Edmonton and can help you find the best policy at the lowest possible rate. Contact us today to find out more or get a free quote.

How an Insurance Broker Saves You Time and Money

Do you know the benefits of an insurance broker?

Suppose you’re looking for the best insurance coverage at the best rates in Edmonton. In that case, you’ll first want to understand the benefits of an insurance broker and how they can help protect you in all sorts of different situations – whether it be saving you money, time or giving you simple peace of mind.

What Are the Benefits of an Insurance Broker?

Here are some of the many benefits of an insurance broker.

 

1. Saves Time

An insurance broker does all the work for you, so you don’t have to spend your valuable time shopping around for insurance. Instead, you simply provide your broker with information about your needs, and they shop the markets on your behalf.

 

2. Saves Money

Insurance brokers work with many different partners to find the best deals on the insurance that works for you. They take all your needs into account and make recommendations that are in your best interest. They have relationships with many insurance partners and can negotiate competitive rates and discounts, saving you money in the long run.

3. Expert Knowledge and Advice

An insurance broker provides you with the support and expertise you need to find coverage that suits your needs. They work with various products and services to find the coverage that best suits you. In addition, they can draw from an extensive knowledge base and experience to advise you on the best options. 

Insurance Brokers provide expert and unbiased advice. A wealth of knowledge about coverage and market rates combined with expert risk assessment ensures your possessions and business are adequately protected. Whether you are looking into auto insurance rates, tenant insurance, or home insurance rates, your insurance broker can help you every step of the way.

You can utilize their expertise to quickly identify your options and rely on their unbiased advice to help you make the best-informed decision for your situation.

 

4. Working For Your Best Interests

Since insurance brokers do not work with one particular company, they have nothing to gain from recommending a specific product. The insurance company also pays them a standard commission. Thus, there is no financial incentive to choose one insurer over another.

Insurance brokers have your best interests in mind. You can count on them to find you the best rate possible, which can give you the peace of mind you need. You can rest assured knowing that if you ever need to file a claim, one of our brokers will be there by your side to guide you every step of the way. They act as an advisor on insurance-related matters. They will shop the market for the best coverage and rates for you. Since fulfilling your needs is their only priority, they will provide independent, unbiased advice on the right coverage for your situation.

5. Privileged access and rates

Insurance Brokers have access to a wide selection of the best insurance companies in the country. These insurance companies are only accessible by Insurance Brokers. They do not deal with the public directly or with Direct Writers. Brokers enjoy long-standing relationships with these insurance companies. Still, they do not have an affiliation with any specific insurer, enabling brokers to provide you with a broader range of options at competitive rates.

 

6. Transparency

Insurance brokers must give full disclosure about their compensation and its effect on your insurance premium.  They are also required to declare any financial links with specific companies that may be a conflict of interest, enabling you to make the best-informed decision.

 

7. Risk and Advocacy Experience

Extensive experience dealing with different clients and claim situations equips insurance brokers with a broader perspective on how to reduce your risk. Also, in the event of a claim, you can count on your broker to act as your advocate with the insurance company and handle your claim fairly and promptly.

Speak to MBS Insurance in Edmonton about your Coverage

Reach out to MBS Insurance today to determine your home, auto, and commercial coverage options. Over the past 45 years, our experienced team of insurance brokers in Edmonton has earned the trust and loyalty of our clients by delivering superior products and services. We understand your needs and provide you with the best protection and rates.

There are many benefits of an insurance broker. We can help you understand the intricacies of your insurance plan while saving you money at the same time. We are a trusted insurance provider in Edmonton and provide personal and commercial insurance policies to people living in Alberta. We offer the best rates on recreational, auto, property, commercial, and group insurance policies. 

Contact us online for a free quote or by phone at 780-436-7880.

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This article was originally published on October 7, 2016, and updated for 2021.