Insurance FAQs: Why Choose a Broker for Better Coverage
What's the difference: Agent vs. Broker?
Agents represent insurance companies, matching you to policies within their providers. Brokers represent YOU, accessing policies across many providers to find the most suitable coverage. They work on your behalf, offering unbiased advice without selling insurance directly.
Benefits of Working with a Broker
Brokers provide unbiased advice focused solely on your needs—not tied to company quotas. They compare multiple providers, maximizing your options while fulfilling their fiduciary duty to act in your best interest. Brokers assist throughout the entire process from risk assessment to claims support.
Understanding Home Insurance Policies
HO-2 Policy
"Named peril" coverage protecting against only 16 specific listed events like fire or theft. If a hazard isn't specifically listed, you're not covered.
HO-3 Policy
Most common "open peril" policy covering your home structure against all risks except those specifically excluded. Personal belongings remain under "named peril" only.
HO-5 Policy
Premium "open peril" coverage for both home structure AND personal property against all perils not specifically excluded, with broader limits and fewer restrictions.
How are brokers paid?
Brokers typically earn commissions from insurance companies when you purchase a policy. This doesn't affect their obligation to work in your best interest. Some may charge additional broker fees, which must be disclosed upfront.
What other insurance types can brokers help with?
Beyond home insurance, brokers can assist with auto, renters, life, health, business, and specialized coverage—often simplifying your entire insurance portfolio under one advisor.