Choosing an Insurance Adviser.

Choosing an Insurance Adviser.

When it comes to safeguarding your future and protecting your income, your assets and your health, having the right Financial Adviser is crucial. Navigating the complexities of insurance policies can be daunting, but the good news is that you don't have to go through it alone. A knowledgeable and trustworthy personal insurance adviser can guide you through the process, helping you make informed decisions tailored to your unique needs. In this blog post, we will outline key factors to consider when choosing the right personal insurance adviser in New Zealand.

1. Expert Advice vs Experience

Our friends, family and work colleagues are great support networks for us and can be of great value to talk to about scenarios you are considering. However, you will find that their experiences will largely dominate their advice to you. If they have had a bad experience with Insurance in the past they won’t necessarily see the value in it, at the same time, someone who has benefited greatly from their insurance, could persuade you to make a decision that might not be quite right for you. A Professional Insurance Adviser is trained and qualified on all the different options that are available to you and will guide you on the best solution for you. They are also kept up to date with a constantly changing industry and ensure you have access to the most suitable options available in the market to you. When you meet with an insurance adviser the first time, they will need to disclose information to you about their qualifications and explain to you how they work, this information should also be available publicly, so have a read.

2. Evaluate their reputation and credibility:

A reputable personal insurance adviser should have a strong track record and positive reputation in the industry. Seek recommendations from friends, family, or colleagues who have worked with an adviser. Look for online reviews and testimonials to gain insight into the experiences of other clients. A credible adviser should be transparent, ethical, and committed to acting in your best interest.

3. Consider their range of insurance offerings:

Insurance needs vary from person to person, so it's essential to find an adviser who can provide a wide range of insurance options. Whether you require life, health, income or trauma insurance, choose an adviser who can offer comprehensive coverage tailored to your specific requirements. They should have access to a diverse selection of insurance providers and be able to present you with various policy options to choose from.

4. Communication and accessibility:

Effective communication is key to building a successful relationship with your personal insurance adviser. Choose an adviser who listens attentively to your concerns, communicates clearly, and explains complex insurance concepts in a way that you can understand. Accessibility is equally important; ensure the adviser is responsive and available to address your queries and provide assistance when you need it. A reliable adviser will prioritise your needs and make you feel valued as a client.

5. Fee structure and transparency:

Understanding the fee structure and cost of services is crucial before committing to an adviser. Some advisers work on a commission basis, while others charge a fee for their services. It's important to clarify how your adviser will be compensated and whether there are any potential conflicts of interest. A trustworthy adviser will be transparent about their fees, explain the value they provide, and disclose any potential affiliations with insurance providers.

6. Personalised service and ongoing support:

Choose an adviser who values a personalised approach to meet your specific insurance needs. Your circumstances may change over time, and a proactive adviser will regularly review your policies to ensure they continue to align with your evolving requirements. Ongoing support is vital, as you should be able to rely on your adviser to assist with claims, policy adjustments, and any other insurance-related issues that may arise.

7. Make it Click!

The above points are all valid, but the most important thing is that you choose an insurance adviser who you can relate to. Your insurance adviser is there to help you through some of the most difficult times you may face. It’s important that you feel you are able to connect with them and rely on them to “have your back” if/ when needed.

Conclusion:

Selecting the right personal insurance adviser is a critical decision that requires careful consideration. By assessing their expertise, reputation, range of insurance offerings, communication skills, fee structure, and commitment to ongoing support, you can find an adviser who will guide you through the insurance landscape and provide peace of mind. Remember, investing time in choosing the right adviser now can lead to a more secure future for you and your loved ones.

Have questions? Get in touch with Sarah and come have a chat. You can also find her on Facebook.

  • Great experience chatting with Sarah about our insurances. She’s very knowledgeable and explains everything clearly, always makes sure that we have all the information to make an informed decision about how and where is the best place to put our money. Also helps that she’s absolutely lovely and very easy to talk to
    Sarah Martin - 22 May 2024
  • Scott has been absolutely incredible. I was initially hesitant to use a broker but I am beyond glad I did. Prompt, insightful, and reliable - will be using his services into the future.
    Kaleb McCall - 17 May 2024
  • We have never used a Mortgage Broker in the past and Scott Miller was amazing and made our refinancing journey very simple and straightforward. He is very knowledgeable and professional; would highly recommend Advanced Mortgage Solutions to anyone.
    Many thanks Scott.
    Alison and Colin Philip - 10 May 2024
  • I chose to work with Greg to help me buy my first home and I'm so glad I did! I honestly can't recommend him enough, he made the whole process so easy and stress free, helped me every step of the way to understand what I needed to do next and a lot of the time was doing all the work for me. Such an absolute pleasure to deal with, I sincerely appreciate everything so much and will be referring everyone I know your way!
    Cara Eve - 02 May 2024
  • For anyone considering or even contemplating a broker + advisor combination, look no further! I consider myself loyal to those who are strong to their word, provide genuine help and are able to put it in plain English so I can make an informed decision based on my circumstances.
    Leith Skinner - 30 April 2024