Germany has an excellent insurance structure for its residents. But for first-timers, navigating through the intricacies of this structure can be a daunting task and confusing altogether.

How then do you get through this complicated but important aspect of your stay in Germany? The answer? Hire an insurance broker to help you.

Don’t worry if you are not familiar with what the broker is meant to help you do. In this article, we explain the role of a broker, why you need one, and how they differ from the agents.

Let’s jump right in!

What is the Role of an Insurance Broker

The role of an insurance broker is to act as a representative for their client in the client’s bid to find the best Versicherung (German for insurance) policies to meet their needs.

He/she works closely with the client to identify potentials risks. Once that is done, they will research the terms and conditions, coverage as well as the price of available policies. They will then recommend the best option to the client.

Brokers are often experts in a wide range of insurance subjects including risk management. They also have the expertise to narrow down insurance offerings to the most suitable option.

One unique skill of these brokers is that they communicate the most technical concepts and information a clear and concise manner to the client.

That being said, not all of them are generalists. Some are specialists in certain insurance types while some others can handle a wide range of products across different sectors.

Brokers may either work for a particular brokerage firm or independently.

Differences between Insurance Broker and Insurance Agent?

Let’s help you clear any possible confusion you may have about brokers and agents.

First, the broker represents the client while the agent represents the insurer. More so, it is the agents and not the brokers that close the contracts.

Also, agents may represent more than one insurer. Brokers, on the other hand, can only make requests for quotes from different insurers and when the client is ready to make a choice, the broker is required to get a binder from the insurer through the agent.

You can click here to learn more about the differences between these professionals.

Here are 4 reasons to consider hiring a broker for your insurance needs:

1. The Professional Element

Excellent brokers are generally known to have good people management skills. So, coupled with the professionalism and expertise that they bring to the table, they also know how to communicate well with the client to understand the client’s needs.

A healthy mix of friendliness and competence in a broker is one reason to consider hiring one soon.

2.  Attention to Detail

Even if you choose to read about the different policies offered in Germany on your own and how to get them, you may miss out on a little, yet important detail that a broker with years of expertise will identify quickly.

The ability to pay attention to the slightest detail is a skill that brokers possess. This skill becomes highly useful when you need to compare the terms, conditions, and benefits of different coverage solutions.

3. Professional and Sound Advice

Another reason to consider brokerage services is that you can rest assured that you will get good advice tailored to your needs.

These are pieces of advice that you may not find on the internet; especially because insurance needs vary and can be quite peculiar in some cases.

4. Claims Support

Suffering a loss can be quite stressful and depressing in some cases. Such times, you don’t want to be burdened by the complexities of what to do next, insurance-wise.

But with a good brokerage service, you can almost hands-off the process and let them file the claim and communicate with your insurer until a resolution has been achieved.

Visit https://www.investopedia.com/terms/i/insurance_claim.asp to learn more about insurance claims.

Conclusion

Getting insured in Germany is an important and compulsory aspect of your residency. But the process is not so easy; which is why the services of a good brokerage service is often recommended.

A good broker brings competence, professionalism, expertise, people management skills, and sound technical advice to you. They are also able to file claims for you and ultimately give you the peace of mind that you deserve.