GENERAL FAQs
Why Should I work with a broker?
A good broker will form a partnership with you in the delivery of solutions for your insurance needs and concerns. They can perform many support functions to find the correct insurance policy and company to fill your needs and budget. As your insurance broker, we will work with you to develop the right fit and help you tranfer the risk to an insurer.
What is a broker of record?
A broker of record is the broker you have appointed to handle transactions, work on your behalf and represent you in the insurance marketplace. There are two basic choices you will need to make when choosing a broker. 1) Which broker will represent you interests and 2) Which insurer(s) will provide the appropriate coverage.
Most brokerages can assess similar insurance markets, and in fact, insurance carriers will only work with one broker a time. Working with multiple brokers can complicate the process and create confusion with insurers, particularly if they are approached by more than one broker. Once you have made your brokerage appointment, the brokerage will work with you to make decisions on the types of insurance coverage you’ll need and which insurers are most appropriate. It’s an easy process to appoint GLG as you broker-contact us today at 702-360-2111!
How do insurance brokerages get compensated?
Insurance brokerages are compensated directly by the insurance carriers via insurance policy placements. Alternatively, brokerages may be compensated directly by the client or insured on a fee for services basis. We can work with you to determine the appropriate method for compensation based on the type of program and services you desire.
Why should I work with GLG?
To determine if GLG is right for you, the first step is an initial introduction meeting and needs assessment; Jointly, we can decide if a partnership makes sense. We believe the most important resources we have to offer are our people. The team that we assemble to deliver the advice, service and products makes the difference.
What kinds of questions should I be expected to answer when I am applying for an insurance policy? Why do insurers need so much information?
When you apply for an insurance policy, you will be asked a number of questions. For example, the agent might ask you your name, age, gender, address, etc. In addition, you will be asked a number of other questions which will be used to determine how likely you are to make a claim.
When an insurance company is deciding whether or not to offer automobile insurance to a potential customer, it will want to know about the person's previous driving record, whether they have any recent accidents or tickets, and what type of car is to be insured.
Insurance companies have different programs for different customers. Adults with good driving records will generally pay less for auto insurance than will a young driver with traffic tickets. In order to determine which program you qualify for, an insurance company needs basic information about you.
In addition to your age, gender and driving experience, information about the vehicle you drive, and how you drive it, is also needed to determine a fair price. For example, a large luxury car costs more to repair or replace than a sub-compact; and, someone who commutes 30 miles each way is more likely to be in an accident than someone who rides the bus to work and drives only on weekends.
What are the advantages to using an agent to purchase insurance?
By using an agent to purchase insurance, the policyholder receives more personal service. An agent with whom there is direct contact can be vital when purchasing a product and absolutely necessary when filing a claim. A local, independent agent is able to deliver quality insurance with competitive pricing and local personalized service.