BUSINESS NEWS - Insuring your assets via an insurance broker can really go a long way to helping you get the right cover for your specific needs, and reducing your time and admin should you need to claim. But how do you go about choosing the right one? Below are some guidelines to follow.

“Often this type of choice will start with a recommendation from a friend or family member, or perhaps you saw or heard an advert. These options can be for a specific broker or a brokerage,” says Bertus Visser, Chief Executive of Distribution at PSG Insure. “But the first step is to select the right brokerage for you and then the right broker who is based there.”

Play detective

Once you have found a few brokerage options, look at their various websites for a full view of their offering, and check out their social media feeds, as well as if there are any public complaints posted online about them, or any FAIS Ombudsman issues hanging in the balance. “You really need to get a sense of who they are, how they are perceived and how they operate,” Visser says.

Once you have narrowed this down further, you can look at the various brokers who work at your preferred brokerage. Aspects that might help you choose would be looking at their track records and qualifications. “If you are a business owner for example, you will have more specialised insurance requirements and you will need a broker who is equipped and experienced to assist,” he adds.

The full picture

Ideally, your broker will be supported by administrative staff and other brokers. This gives you peace of mind should he or she be unable to assist you for whatever reason. A well-run office ensures your claims will be dealt with efficiently.

“You are fully within your rights to ask a broker about his or her office setup and even request to meet other key members of the firm. You can even ask for referrals given by other clients. Think of it as a job interview - you are employing a broker who needs to be the right fit,” Visser says.

Finding the one

It is very important that you feel comfortable with your choice. You are looking for a positive, productive, long-term working relationship, and should expect your broker to be honest and straight-forward, fully disclosing all details about any insurance products or processes to you. Your broker should be accessible to you and always look out for your best interests.