An Insurance Brokers main role is to provide you with qualified advice regarding your Insurance requirements. We will do this by asking questions and filling out a proposal or questionnaire. We then review what you have/need and provide you with advice and recommendations. If we place cover on your behalf, we will then manage this policy from quote to renewal. This includes endorsements (mid term changes), cancellations and managing claims on your behalf.
How is an Insurance Broker Remunerated?
The Insurer we place your cover with will pay us a percentage of the premium, this is known as our 'commission'. This amount is not charged in addition to your premium. We will also charge an annual Broker Fee per policy, this is due to us acting as your advocate and being available to you 365 days a year. Our fees are smaller than most brokerages and will be included in your overall premium provided.
Can I pay my Premiums Monthly?
Hunter Broking Group has access to Premium Funders who can facilitate the payment of your premium through monthly direct debits. There is an application fee and interest charged with this method of payment. Some of our Insurers have the capability to let you pay your premium by monthly direct debits (interest free). We will ask you how you prefer to pay your premium and provide options that suit.
What Qualifications is any Insurance Broker required to have?
To provide advice on Insurance, a Broker is required to have their Tier 1 (Wholesale Insurance Products) and Tier 2 (Retail Insurance Products) Certification. All Brokers at Hunter Broking Group have their Tier 1 Accreditation & Diploma of Insurance Broking (not to mention a number of years experience). We also are required to provide evidence of maintaining our industry training and development. To obtain the required training hours, we are constantly & consistently reading relevant articles, attending seminars, viewing webinars and having direct training by Insurers and other Industry bodies.
Should I quote my Insurance with more than one Broker?
At Hunter Broking Group we generally advise against quoting with multiple brokers. This is mainly due to the fact that in most cases, Brokers have access to & will approach the same Insurance companies and underwriting agencies. These Insurers are required to give all brokers the same premium, providing all the information presented is the same. We feel it is more important to pick a Broker based on relationship, experience and reliability. It is easier to trust your broker has your best interests through an established relationship, rather than provided the cheapest quotes (remember, cheaper is not always better). When shopping around for a Broker, keep the following in mind:
- Did my broker listen to me?
- Did my broker understand what I do?
- Did my broker explain to me their process & keep me updated?
- Did my broker explain my options/insurance program to me in a way I understand?
- Did my broker confidently answer my questions or vow to seek answers to questions they did not know?
Does my Insurance Broker need to be Local to where I live/business is?
Not at all. We can manage your Insurance 100% via phone & email. We do like to provide our clients with the opportunity to meet us in person if local. We have also been known to travel interstate annually to visit some of our larger clients. We generally recommend a face to face appointment when there is a workplace or substantial property to review. We also work closely with risk managers to provide further reports if required.
How do I make a claim?
Even if you are not sure something is 'claimable' we recommend to give us call or drop us an email. No question is silly & it never hurts to submit a claim for the Insurers discretion. We will manage your claim from lodgement to settlement, which includes; waiting on hold for the Insurers & assessors, negotiating with Insurers & escalating claims if need be.
Why was my online Insurance quote cheaper than what my Broker provided me?
A Direct Insurer, be it online or over the phone, does not have the qualification to provide you with advice. Their policies are generally a one size fits all format and might have lower limits or lesser cover than a Brokers products. If you use a direct Insurer, the onus is on you to ensure the insurance is correct. Using a Broker means you are protected by our advice & the onus falls on us to ensure your Insurance program is correct.
What are the Benefits of using an Insurance Broker?
You receive quality advice & tailored Insurance solutions specific to your requirements. You will have access to competitive premiums in the market & exclusive policy wordings with superior covers. We will be your advocate during claims & provide assurance you are receiving full claimable benefits from your policy after an incident. You also receive market research, policy comparisons & have a relationship with ongoing direct communication with your Broker.
How is Hunter Broking Group different to other Insurance Brokers?
We are legitimately different. We are passionate about what we do, we are highly technical and we have fun. It is very important that we are meeting face to face and getting to know our clients well. We take the time to detail our work professionally and always ensure we are using our experience to negotiate and advise. The biggest difference is that we are consistent. It is very important for us to offer the same service each year, as if it was the first.
Direct Insurers won't give me a quote, would a Broker be able to obtain one?
Being qualified Brokers gives us negotiating power with Insurers. Insurers are more inclined to accept a 'hard to place' Insurance risk with an Insurance Broker than with a client direct. This is due to their trust in our expertise to manage the policy on your behalf and provide appropriate advice. The policies are also professionally underwritten, meaning the insurers we are dealing with are more familiar with risks and understand how to tailor a quotation to suit a more technical exposure.