The world of insurance is becoming more popular these days, and many people are opting to look for ways to be financially secure. Meanwhile, one of the ways to do so is to hire an insurance adviser and get comprehensive insurance coverage. When doing so, you can guarantee that you have a backup in case things don’t go the way you planned.
However, one of the struggles in hiring an insurance adviser is to look for the best one. Since not all insurance advisers are created equally, you should be prepared to ask them questions to satisfy your concerns.
In this article, we’ll give you a list of the things you should ask an insurance adviser before hiring them.
1. What Are Your Qualifications and Experience?
If you have a prospective insurance adviser, don’t hesitate to ask them about their qualifications and experiences. Usually, they include their qualifications on their website and other online platforms, but once you have a chance to talk to them, you can ask them for details about their years of work.
But even though they have years of experience, a good insurance adviser is open to learning and experiencing new things.
2. Are You Independent or Affiliated to an Insurance Company?
One of the most essential things you should know about your potential insurance adviser is if they’re affiliated with an insurance company or not. Usually, it’s best to hire someone who’s not tied up with an insurance provider, so that you can have a wide range of options.
Although it’s not a bad idea to hire affiliated insurance advisers, this just means you have limited options as the recommendations are limited to what the insurance company offers.
3. How Do You Get Paid?
Another thing you should be aware of is the structure of payment the insurance adviser receives. If they get commissions on specific products from various insurance providers, there’s a chance that they may recommend these products even if it isn’t significantly needed by their clients.
On the other hand, an insurance adviser who gets commission directly from their clients tends to recommend products without any bias.
4. Can You Provide References?
Aside from asking about the experiences, you should also ask for references and client testimonials. Of course, one of the things you should check when looking for the insurance adviser’s website is the review section. However, during the consultation, you should also confirm these references, especially if they’re working with well-known individuals or companies.
5. How Do You Manage Risks?
How can they help you manage risks? An insurance adviser should be able to discuss their approach to assessing clients’ risks and recommend coverage based on the assessment. Unfortunately, if your potential insurance adviser can’t walk you through the process of being financially secure, look for other options to avoid problems in the future.
6. What’s Your Specialisation?
Having expertise can help identify whether your potential insurance adviser can focus on providing recommendations based on your needs. Although a general insurance adviser can also help you decide the best insurance coverage, in-depth knowledge and experience with a specific insurance type can help you feel safer.
Meanwhile, if you can only find a general insurance adviser, you can still find out what they’re more inclined to do based on their past and current clients.
7. How Do You Usually Communicate with Clients?
What are their means of communication? Clear and effective communication is essential, especially since the business between you and your insurance adviser is an investment. And it’s not just about a simple investment. It’s possible to get multiple insurance policies with the assistance of a single insurance adviser, so there should be constant communication.
So, it’s vital to get to know the contact details of the insurance adviser, including the active social media accounts.
8. Do You Offer Reassessment and Updating of the Client’s Policy?
Availing of insurance isn’t a one-time thing. As you move forward, you need to reassess and update your coverage. This is when the tasks of insurance advisers become more interesting. So, when looking for a potential insurance adviser, they should offer services even after you get your policy, including the reassessment and updating of your coverage.
9. Can You Explain the Policies in Simple Terms?
A good insurance adviser should be able to discuss the policies in simple terms. Since insurance terms tend to be complicated, an expert should be able to explain the specifics of the policies in a way their clients will understand. This includes the limitations, deductions, and other special matters that may become a problem in the long run.
10. What Happens If I Have a Claim?
Lastly, insurance advisers should also offer assistance during claims. As you know, many insurance policyholders experience difficulting when filing for claims and during the waiting time. Unfortunately, without the complete requirements, the claims can be declined, and can significantly affect your finances.
On the other hand, with the help of an insurance adviser, you can navigate the claims process seamlessly, and with peace of mind.
Final Thoughts
Hiring the right insurance adviser can be a daunting task since you need to talk with potential advisers. However, once you find the right insurance adviser who can handle your financial security, you don’t have to worry about what the future holds. Meanwhile, by incorporating these questions during your initial consultations, you’ll be able to spot who should you hire as your insurance adviser.
