How to Pick the Best Insurance Broker

When choosing an insurance broker, it's imperative to ensure the individual has a valid license and a clean disciplinary record. Because you depend on an insurance broker's expertise to make important decisions about your insurance needs, you will want to favor insurance brokers with greater experience and a proven track record for success. Take your time when interviewing potential brokers and rely on your gut instinct when doubtful about a potential match.

Instructions

• 1

  Visit your state's Insurance Department's website. Enter the name of the insurance brokerage firm and National Association of Insurance Commissioners, or NAIC, number. Avoid any insurance brokerage firm with a high number of complaints.

• 2

  Find out about complaints or lawsuits investigated by your state Attorney General's Office. Find consumer complaints in the consumer alerts, information and complaints section of the Attorney General's website. Find additional consumer complaints by visiting the Better Business Bureau's website.

• 3

  Ask tough questions. For example, "What is the processing time for claims?" "Can I visit the office and meet your staff before signing up as a client?" "What is the minimum number of times you expect to contact a client?" Asking such questions provides you with the broker's track record for processing claims, puts you in contact with the staff members who will also be handling your insurance needs and lets you know just how often you can expect to receive communication from the insurance broker.

• 4

  Speak to a few different brokers. Look for an ability to effectively communicate all your options and address comments, concerns and questions in a timely manner.

• 5

  Choose an insurance broker with a good reputation. Ask the broker for at least one recommendation; although multiple recommendations is ideal. Ask the insurance broker if the individual or family providing the recommendation shares your particular situation. Contact the individual or family and ask questions about the broker's level of professionalism and knowledge.