Insurance brokers have been around for decades and are readily used by many small, medium and large businesses. There are many reasons for this, all of them beneficial for the business owner.
This article delves into why people use them and why Rapid Solutions often uses insurance brokers (aka ‘Rapid Brokers’) to service clients.
Namely, using Rapid Brokers enables us to provide pest control business owners with specialised insurances that our insurer doesn’t cover. We provide our clients with policy support for these specific types of insurance, while focusing on continuing to finetune our specialised professional indemnity insurance and general liability insurance offering.
It’s the best of both worlds for our clients.
What is an insurance broker?
An insurance broker plays an important role in the health of many businesses. They act as a knowledgeable conduit (aka middle person) between their client and insurers, to manoeuvre their client into an advantageous insurance scenario.
At Rapid Solutions, we use them to help business owners’ source valuable insurance cover for commercial vehicles, property and other areas like workers compensation. Insurances that fall outside our speciality of professional indemnity insurance and general liability insurance.
Rapid Brokers use their connections and industry expertise to secure the most suitable cover for each client’s unique needs. In doing so they help protect clients’ business assets.
It’s important to know an insurance broker works on behalf of their clients, not the insurers. Here’s more information from the National Insurance Broker Association.
Rapid Brokers over time
You may not realise brokers have been part of the Rapid Solutions team for over 10 years. Throughout this period, they’ve helped many pest controllers and building inspectors find great insurance solutions for their business.
The collaboration between us and each insurer we work with has evolved over this period. So, we thought it time to give you a picture of the landscape today. This should enable you to understand the benefits and take advantage of them…
What does Rapid Brokers offer?
We originally launched our insurance broker offering, Rapid Brokers, so we could offer our clients a broader suite of insurance products. That stands true today.
Rapid Solutions understands the insurance needs of pest controllers and building inspectors extend well beyond professional indemnity insurance and general liability insurance. And because we know the insurance market can be very confusing, we want to help clients in their search for well-suited cover that’s fit for purpose.
Our Rapid Brokers team is qualified not just to place your insurance cover but to advise you on what levels of cover, and what types of policies, will best meet the needs of your business.
With Rapid Brokers, you can keep all your insurances with Rapid Solutions. This means we can take care of your commercial vehicle, workers compensation and general property insurance policy renewals, claims and queries, as well as your professional indemnity and general liability.
Keeping all this importance insurance coverage under the same roof means your policies are easily accessible and organised, with an insurer you’re familiar with. An insurer that’s efficient, responds quickly and is on your side when you’re navigating challenging times.
This is what we wanted (and still want!) for our clients. It’s about making things easier.
We’re committed to ensuring you receive professional, expert assistance across your most important business-related insurances. At Rapid Solutions when we say, ‘we’ve got your back’, we mean it.
Rapid Brokers products
If you’re a pest controller or building inspector working in Australia you need vehicle insurance, right? And insurance for your business premises too; that is, if you’re not 100% working on the go.
Know that Rapid Brokers can insure your vehicle or premises through competitively priced and well-positioned cover. It’s vital that your policy covers you for use of your vehicle for the purpose of conducting a pest control business. Not all insurers provide this cover!
Some of the features of the insurance cover we place include:
- No fixed limit on rectifying your vehicle signwriting if damaged (reasonable costs paid)
- Free windscreen cover (no excess)
- New vehicles you purchase are automatically added – covered for 60 days without notification
Rapid Brokers can provide you with much more information on this, as well as BusinessPack insurance and general property insurance. Visit www.rapidsolutions.com.au/other-insurance/ or call Milinda on 1300 309 169 to request a quote. Or, you can always contact Rapid Solutions via our contact form.
To work with our Rapid Brokers, you don’t need to be a Rapid Solutions client. Although we’d love to provide you with professional indemnity insurance and/or general liability insurance, you’re free to use Rapid Brokers without it.
How insurance brokers get paid
Firstly, as we mentioned earlier, Rapid Brokers work on your behalf. They do all the research, all the running around, guide you through all the paperwork then follow your application through to its conclusion. Throughout, their focus is what works best for you, not for the insurer.
When it comes to payment, once the broker arranges your cover you pay them a fee for their comprehensive service. This is in addition to your insurance premium. As with mortgage brokers and other types of brokers, the insurance broker also receives a commission fee from the insurance company providing your cover.
Your broker’s service doesn’t end there. If your business needs change during the year, they can provide further advice and support to ensure your cover changes to reflect what protection your business needs.
And in the event, you need to make an insurance claim, your broker is again the middle person who liaises on your behalf with the insurance company. They’ll save you time and hassle and will lodge your claim with all the right information to ensure the claims process runs as smoothly as possible.
But wait, there’s more
While you’re thinking through your business insurance needs you should also refresh your memory on why it’s important to ensure your pest insurance doesn’t expire. Then check out what an insurance endorsement is and why it’s important.