3 Key Questions to Ask Your Insurance Broker in 2023

Before seeking an appointment with your insurance broker, it is important to take some time and make a note of any questions that you want to be answered. This will ensure that you get the most information out of your appointment, as well as provide relevant insight for your broker into what type of insurance you are likely to want.

These questions do not have to be long-winded, but you will have to be sure to understand the answers that you are being given. If you have any additional queries or do not understand the terminology that is being used, make sure you ask the insurance broker to elaborate.

There are, however, some important questions that you should not overlook during the course of your conversation.

#1 What kind of coverage do you require?

When it comes to your home insurance, it is important that you make sure you are covered for everything that you want to be. It is likely that an insurance broker such as kbdinsurance.com will take the time to talk you through additional areas so as to make sure that you are not missing any vital areas of cover from your desired list. 

Of course, it is not just about what is covered and what isn’t; it is also about the amount of coverage. It is pointless paying for home insurance with the mind that it will cover all your possessions if the policy is not going to offer you enough by way of compensation or cover your losses.

#2 What is your deductible?

It is also important to know exactly how much you will have to pay should you need to make a claim. This is known as your deductible, and it is the amount of money you will have to pay upfront before your insurance broker will step in and pay the remainder. You will have to consider this amount before you take out your insurance to make sure that it is an amount that you are likely to be able to afford to pay. 

#3 When should you apply for life insurance?

Another area that you could well be interested in is your and your loved one’s life insurance. This is an insurance that will pay out if the policy owner has an accident, passes away, or becomes terminally ill, depending on what the life insurance policy actually states. Knowing when you should take this insurance and knowing how much it will cost you, as well as estimated values over select periods of time, could seem like a very good idea. For instance, having extra cash to pay for the funeral and/or help with any mortgage payments will be very welcome at a time of bereavement. 

Final thoughts

So as you can see, there are different types of insurance open to you. It is important that you know what areas of your life and home are covered, how much it is going to cost you, and whether or not the policy that you are thinking of is going to do the job you want it to.