The Health Insurance Process – When the Patient Gets Stuck

Studies show that ER costs make up the biggest portion of amounts owed from insured and uninsured patients struggling to pay medical bills!

In Network or Not?

Did you know that about 66% of emergency room doctors are independent contractors who may or may not be in your insurance plan? And in a practice called balance billing, any out-of-network provider or lab can bill you for whatever your insurance does not cover. You might receive bills from several entities, some of which you never even met!

What is an out-of-network provider mean? This is a healthcare professional that does not have a contract with an insurance plan. Therefore, the provider does not have to accept the insurance’s allowable amount as payment in full.

The Ambulance

Think about the ambulance too. If the ambulance company that takes you to the ER does not hold a contract with your insurance, you could be on the hook for more than $2,000.00 depending on where you live in relation to the ER and what level of care your receive prior to arriving at the hospital. Plus, if your insurance company concludes that an ER visit wasn’t warranted, you might owe even more money.

To avoid these nasty surprises, consider the following strategies:

Insurance Policy

It might sound rudimentary because it is. Ask your insurer what the plan does and does not cover in the event of emergency care. This includes the ER copay, coinsurance, and deductible – in and out-of-network. Many patients are surprised to learn there are different values for out-of-network care. Some plans even have a tiered payment system. Find out which area hospitals are in network with your insurance. Check with the hospital to see which ER doctors are in network in your insurance plan.

Find out how your plan defines a medically necessary ambulance ride and what is required to appeal a non-payment decision.

EMTs decide which hospital they will take you too but you can request a particular one. Request an in-network doctor when the admission forms are completed. Be aware, however, your insurance may deny the charge if you request a hospital further away and could have been treated at a location nearest you.

Out-of-Network Bills

If you get a bill for out-of-network charges that you could not prevent because of the emergency, then it’s time to get to work. Ask your insurer if they’ll cover the costs at the in-network rate. Contact the providers and ask what the insurance has already paid and ask them to settle for that or negotiate for a lower amount.

About a quarter of US states have consumer protection laws that restrict providers from balance billing in certain care situations like emergencies. Some laws apply only to certain health plans or certain providers. Contact your state’s insurance department for specifics.

If all this fails, contact your insurance to determine what must be submitted to file an appeal and time limits for filing. Generally, documentation from the provider(s) will be required. In the case of an out-of-network situation, ask the doctor to provide a letter attesting to a good faith effort was made to utilize a contracted provider and no equitable access to such provider existed.

It’s not easy blending thoughts of payment with a medical emergency but it is something you can prepare for.

Plan Your Investment For a Sound Financial Future

There are two parts to planning your investment for a sound financial future – one, where you decide on the bigger picture of how you would want your investment to be, and two, when you decide on the instrument that you would choose to execute your plans. When you have got the basics right, you could then compare plans and go about deciding on the best plan that is right for you.

The bigger picture – risk, returns, and the time frames: The first aspect associated with your plan have to be with the kind of risk that you are willing to take, the amount of returns that you plan to make, and the time frames that you have set for yourself to make things happen. Are you willing to go the long term, which would be over and above 7 years in duration, would you want to keep it mid-term, as in about 4 – 6 years long, or have you set your sights on the short-term? This basic thinking would make you focus on the category that would be the most appealing for you.

And it is a similar case when it comes to risks and returns – they are partners in business but they do not always go the same way. As you would realist when you compare these plans, those that are high in risk tend to have higher scope for returns, and vice versa. However, that is not to mean that all high risk investments are invariably subject to high returns – investment plans are, as the disclaimer goes, always subject to market risks. The clearer you are in what you want, the better you fare.

Which investment plan? There are many options available for the novice as well as the shrewd investor. Starting with the traditional ones to the successful online plan, there are many instruments that could serve your purpose.

Investment Insurance: This is a combination of investment and insurance. Some may consider this the best plan, since it serves two purposes in one. On the other hand, you may not get the best returns on investments, since there is also an element of insurance coverage in this option.

Unit-linked plans: For those who have chosen to ride with the market and take it in their stride, there are unit-linked plans. Their returns invariably go with the fluctuations in the market, even as they provide the advantage of insurance. This is also a good option if you have your sights fixed on the long term.

Online plans and other options: There is a whole range of options available for those who look for varieties, right from mutual fund investments through bank fixed deposits, Public Provident Funds (PPF) and other investments such as National Savings Certificates. You would only have to do your research and compare these plans to decide what is right for you.

Cheap Auto Insurance Policy With the Good Ones

There are many things to think about when buying automobile insurance other than price alone. You need to carefully consider all the insurance coverage options, which will play a large role in the cost of your premiums.

It may sound a bit confusing, but getting the cheapest policy may, in reality, cost you serious money down the road. Why you might ask? Getting the state minimum coverage may leave you naked so to speak. In the event you get into an automobile collision, the amount of coverage you need to cover the accident might be considerably more than your policy limits.

Even worse, you could get sued and have your wages garnished. If you hurt another person in an accident you caused and could not pay for all their medical bills, you likely will.

Get the best Car Insurance for Your Needs

Let’s stick with the cheapest type of insurance plan, basic liability insurance. If you get the state minimums, you can get monthly rates as low as $30. The problem is, your car could be worth $15,000 or more. If you get into a collision, guess what, your plan would not pay for repairs to your vehicle. If it is completely totaled, that means you have just lost $15K, which is a lot of money.

Now that low-cost liability policy just cost you thousands. Simple public liability and property damage should only be used under certain circumstances. For example, if you have a vehicle that is worth less than $3,000 and you do not drive it much, maybe you can take this risk. Also, if you are a college student with an old ride not worth much, you can take the risk and stay within your budget. However, if you have an expensive car and assets to protect, you are going to need to buy added protection.

The other thing to consider with these cheaper policies is legal liability. The United States is a very litigious country. There are literally tens of thousands of injury attorneys looking for new cases. This means if you get into a vehicular incident that you were deemed to be responsible for, a limited policy can come back to bite you. Let’s say you only have protection of $50,000 in medical damages. You check your cell phone while driving, run a red light and T-bone a nice lady in a used Honda. She goes to the hospital for two weeks and racks up $250,000 in hospital expenses.

Her lawyer will immediately sue you for the balance of these costs, which in this example is $200,000. You can go to court and fight this, but it will cost you thousands to hire an attorney. The judge in this example might award the victim the $200,000 plus legal fees, which would more than likely devastate you. There might be a payment schedule of $2,000 a month taken out of your paycheck for ten years. So your money saving $39 a month policy in the long run just cost you a fortune.

The most important thing to think about when you buy auto ins is the protection of your assets. If you make more than $60,000 per year, get a policy that has up to $500,000 in accident coverage. In the event you do get into a serious collision, you will be properly covered and not get financially crushed. You might pay $130 per month and even more for a higher limit plan, but in the long run, it is the smart move to make.

You can take advantage of good driver or senior citizen discounts and save 5% or more. Another great tip is to raise your deductible up to $1,000 or higher. This way you can buy an enhanced ins plan at a lower rate. Just remember to set aside the $1k in the unfortunate event you get into a crash and need to file a quick claim.

Buy Auto Insurance Direct and Save Big

Now that you have selected the type of insurance you want, it is time to shop around for the best rates.

How To Determine The Best Dental Plans

Insurances for dental care are a practical way to save cost on check up and treatments. Some get these from their employers but for those who are getting this on their own, it is important that we make sure that we are able to maximize the plan that you will be getting. With the growing numbers of companies offering dental insurances, do not let yourself be fooled. Here are some tips on how you can determine which of them offers the best dental plans.

1. Flexibility on restrictions

Although having restrictions cannot be avoided in every plan that you will be getting, it is advisable that you choose a provider that is more flexible when it comes to the number of times that you can avail dental services or the dentist you would like to visit.

2. Wider network of accredited dentists and clinic

It is good to have a provider that has lots of accredited dentists to visit. Aside from you can easily find one that is near your place, it would give you option to choose which do you think among them provides the best service.

3. Coverage it provides

Some providers may attract you to sign with them by showing you a lot of services that will be included in the plan should you sign with them. Once you signed, you’ll find out that what was included in your plan is not really what you need. So before you choose, it is advisable that you check with your dentist first on what are the possible treatments and services that you would need.

With the cost an insurance plan entails, it is important that we are able to choose a provider that would satisfy our needs. Do your research and consult experts before you decide in which one offers the best.

Top 3 Tips to Avoid Hassle and Enjoy Your Family Holiday

Quite often, parents travelling with children end up getting too stressed out to actually derive any pleasure from the supposed ‘family getaway’. The truth is, the stress stems from parental expectations that are not only misguided and unrealistic, but also entirely incompatible with what your kids want. There are plenty of things you can do (foremost of which is buying a sound family travel insurance policy) to make things run more smoothly and with far less to worry about. To ensure that you and children enjoy the journey, here are some life-saving tips.

Be flexible with your pace

Depending on the age of your children, the pace of how you travel from one location to another is usually determined by the youngest member of your family. It’s not enough to simply buy an excellent family travel insurance package and expect that the rest of the holiday will take care of itself; you need to match your children’s expectations with yours, and ensure they understand both. If you have a 16-year-old child, for example, as well as a 6-year-old, you’ll understand they will have different paces; finding the common ground between them is key to avoid them being at loggerheads. Naturally, the pace of the 6-year-old will determine your group’s overall speed, but this is actually good, as you can spend the extra time savouring the sights and mingling with the locals. You can also take more pictures and make your visit much more memorable – every cloud has a silver lining!

Have a contingency plan

You may believe that you have the most ironclad itinerary in the history of holidays – but adding children to the mix can easily demolish the best-laid plans. While a good family travel insurance policy will protect you from financial problems, do make sure you stay flexible regarding your scheduled travel. Children have needs different from yours and you may unwittingly push them too hard and turn your holiday into a chore rather than a pleasure for them. Take your time, respect the needs of everyone in the group, learn to adjust, and always, always have a back-up plan when things don’t go as pleasantly as planned.

Keep your expectations realistic

One common source of friction between parents and their children when travelling together is the parent’s failure to recognise one simple truth: what children want may be completely different (or even opposite) to what the adults want. At the very least, you, as a parent, must recognise that your children may not see the Eiffel Tower through your eyes – to many it’s just a big metal tower. In fact, however, children may be taken by the smallest of things: a butterfly fluttering across the park in Barcelona, a gelato stall in Sicily, or that old Italian man selling roasted chestnuts. By listening or sensing closely what delights your children-and following through-you’ll lessen the friction and open up the trip to being far more memorable.

Getting good family travel insurance just sets the foundation for a relatively worry-free travel, but that’s only the beginning. Follow these tips and you’ll be well on your way to that Holy Grail – the ideal family holiday.

Life Insurance and Life Assurance are Not the Same!

The average man in the street assumes that Life Insurance and Life Assurance are names for the same form of insurance. How wrong they are! But don’t hang your head in shame, many financial commentators get it wrong too! Life Insurance and Life Assurance perform different financial roles and are poles apart in cost – so it helps to surf for the correct product.

Life Insurance provides you with insurance cover for a specific period of time (known as the policy’s “term”). Then, if you were to die whilst the policy is in force, the insurance company pays out a tax-free sum. If you survive to the end of the term, the policy is finished and has no residual value whatsoever. It only has a value if there is a claim – in that context it’s just like your car insurance!

Life Assurance is different. It is a hybrid mix of investment and insurance. A Life Assurance policy pays out a sum equal to the higher of either a guaranteed minimum underwritten by the policy’s insurance provisions or its investment valuation. The value of the investment element is then a reliant on the Insurance Company’s investment performance and length of time you have been paying the premiums.

Each year the insurance company adds an annual bonus to the guaranteed value of your life assurance policy and there is normally an extra “terminal bonus” at the end. Therefore, as the years go by your life assurance policy increases in value as the investment bonuses accumulate. The value of these bonuses are then determined by the insurance company’s investment performance. Once investment value has been assigned to the policy, you can cash it in with the insurance company. However, most people get a far better price for their life assurance policy by selling it to a specialist investment broker rather than cashing it in with the insurance company.

If you were to die during a Life Assurance policy’s term, the policy pays out the higher of either the guaranteed minimum sum or the accumulated value of the annual investment bonuses. However, if you are still living when the policy terminates, you usually get a bigger payout. This is because with most insurance companies, an additional terminal bonus is awarded.

There is a also a specialised form of life assurance called “Whole of Life”. These policies remain in force for as long as you live and as such, have no preset term.

There is also a practical difference for the internet user. Whereas you can buy life insurance online, the Financial Services Authority view life assurance as fundamentally an investment product. As such they believe it is best suited to being sold by a Financial Adviser with advice based on the Advisors full understanding of your personal details. Therefore, you will be unable to buy life assurance online. However, you can use the internet to find a suitable financial adviser with whom you can meet and discuss your requirements.

What are Life Insurance polices and Life Assurance policies used for?

Life Insurance is usually a focal point of the family’s financial protection. It is ideally suited to ensure that known debts such as a mortgage, are repaid in full in the event of the policyholders death.

When it comes to providing a lump sum for general use in the event that the policyholder were to die whilst the policy was in force, either life insurance or life assurance can be used. The differences are that with life insurance the size of payout would be preset whereas with life assurance it would depend on the guaranteed minimum and the insurance company’s investment performance. But remember, at the end of the policy’s term life insurance is worthless, whereas life assurance should payout a sizeable investment sum. In this context Life Assurance seems far more worthwhile but in practice more people elect for life insurance. Why? It’s a matter of cost. Life Insurance is considerably cheaper than Life Assurance. Furthermore, in recent years, investment returns on Life Assurance policies have fallen significantly and many insurance companies have placed penalties for cashing in policies early. This has adversely affected the resale value of Life Assurance policies.

Finally, if you want a product to provide a lump sum on your death whenever that is with a minimum payout guaranteed, you’ll probably elect for Whole of Life insurance. It’s really a form of lifetime investment with the benefit of a guaranteed minimum. They’re particularly useful for Inheritance Tax Planning.

Life Insurance – Top Money Saving Tips

More and more people are buying life insurance online and the numbers seem to be doubling every two years. The reasons are clear. Prices are lower on the Internet and life insurance is fundamentally a simple insurance product.

Despite the underlying simplicity of life insurance, most web sites channel their online clients through a telephone based help and advice service manned by experienced personnel. They represent your safety net so if a little technical knowledge is called for, help is at hand.

But it’s always a good idea to have a few Top Tips in your back pocket when you’re shopping online for life insurance. They’ll help you ask the right questions and find the best policy.

1. Always have your Life Insurance policy “Written in Trust”.

This means that in the event of a claim, the money goes directly and immediately to the person(s) you nominate when you first take the policy out. It also avoids all possibility of your estate having to pay Inheritance Tax on the proceeds of your policy and that could represent a 40% tax saving !

All you have to do is tell the online brokerage organising your policy that you want your policy “Written in Trust” and the names of the people who the life insurance company pay in the event of a claim. They will then sort it all out for you. The extra good news is that this service is invariably free of charge. So it’s a win win situation and there aren’t many of those around these days !

2. In the early years a Reviewable Life Insurance Policy will be cheaper but a Guaranteed Policy will work out a better buy in the longer term.

With a “Guaranteed Policy” the insurance company guarantees never to increase your policy’s premium.

With a “Reviewable Policy” you agree that your insurance company can review the cost of your policy at regular intervals. But don’t be kidded – in our experience a “review” is just another word for a price increase. After all, who’s ever heard of an insurance company passing up a chance to charge you more! The review intervals are usually between 2 to 5 years but this does vary between insurance companies. You will find the details of the review intervals on the documents sent to you before you accept the insurance – these are called The Key Features Documents.

So, comparing otherwise like for like policies, in the early years the premiums for a “Reviewable Policy” will undoubtedly be lower than the premiums for a “Guaranteed Policy”. Thereafter, the premiums for a Reviewable Policy increase eventually catching up with and overtaking, the premium for a “Guaranteed Policy”.

In our experience, you can expect the monthly premiums for a Reviewable Policy to exceed those of a Guaranteed policy in about 7 to 10 years and then within the following 10 years, more than double again. If your budget is currently tight then by all means choose a Reviewable Policy – after all your salary may increase in coming years and ease the strain. On the other hand, if the premiums for a Guaranteed Policy are affordable, we think they represent your best buy.

A footnote. Many insurance companies have stopped offering “Guaranteed” rates for standalone critical illness insurance policies. This because they have experienced much higher claim rates than they initially expected. However, you may still find a Guaranteed life insurance policy that also provides critical illness cover. As we have explained, “Guaranteed” rates are especially good value and if you can get a quote for a Guaranteed life policy that includes critical illness cover, you may have a real bargain.

3. Thinking about a Joint Life Insurance Policy?

A Joint Life Insurance policy is usually written on a first death basis. This means that the policy will pay out on the death of the first policyholder, subject to the policy being in force at the time. This leaves the second person uninsured and older. Older people can struggle to get life insurance at an affordable premium, so rather than a Joint Policy consider taking out separate policies now. Overall it will work out a little dearer – but you get twice the cover and double the peace of mind.

4. Taking out a Life Insurance Policy? Now would be an ideal time to include Critical Illness cover.

Are you likely to need Critical Illness Insurance in the future? Yes? Then consider adding it now to the life insurance policy you’re arranging. Why? There are three reasons.

Firstly, a Life Insurance policy combined with Critical Illness cover will work out significantly cheaper than buying two separate policies. Secondly, as we have already explained in the footnote to Tip 2, you may be able to buy a combined Life and Critical Illness policy with a guaranteed premium. That could be a real bargain. Finally, premiums for critical illness cover increase rapidly as you get older – so the sooner you take it out, the cheaper it will be.

5. Don’t confuse Terminal Illness cover with Critical Illness cover.

There’s world of difference between Terminal Illness and Critical Illness cover so it’s important to understand the difference.

Terminal Illness cover pays out the insured lump sum if a Medical Doctor diagnoses you with an illness from which the Doctor expects you to die within 12 months. Most good life policies automatically include Terminal Illness cover at no extra cost. It’s basically an early, and welcome policy payout.

A Critical Illness policy pays out the insured lump sum if you are diagnosed with one of a wide range chronic illness and there is no life expectancy criteria. Indeed, with many of the insured illnesses you could expect to survive for many years. For example: certain cancers, heart disease, stroke, multiple sclerosis, loss of speech, sight or hearing, onset of Parkinsons or Alzheimers disease, third degree burns etc. Say you were an engineer aged 40 and you lost your sight. A Critical Illness policy would pay out immediately and that money could well be vital in helping you and your family through many difficult financial years ahead. If you just had Terminal Illness cover there’d be no chance of a payout.

So as you can see, Critical Illness cover is far more comprehensive than simple Terminal Illness cover and for that reason critical illness cover always costs you extra.

© 2005 Andromeda Webs Ltd. All Rights Reserved Worldwide.

Tweaking Your Family Travel Insurance For Different Circumstances

Even more so than single trip or individual policies, family travel insurance is a source of mystery for the majority of holidaymakers. Doubts about what will be included in a package of this type, why it is necessary, what it will and will not cover and how it differs from ‘standard’ policies are extremely common. While companies generally do their best to try and provide answers to these questions, the number of prospective buyers still confused about the process is still far from negligible.

And yet, many policies – family travel insurance especially – are easy enough to tweak so these types of questions become almost irrelevant. Unlike what many buyers seem to think, such policies and packages are not entirely static – often, there will be several variants to the same general type of policy, each adapted to a specific set of circumstances. As such, it is up to the individual to locate the right type of policy in terms of the type of holiday they are planning to take, and to make sure that is the one they eventually contract.

Below is a list of the most common types of group holidays, complete with the type of characteristics buyers should look for in a travel cover policy.

Beach Breaks

Beach breaks are the most common type of getaway to indulge in with a family, and they do not necessitate anything that strays too far from the basic family travel insurance plan. Make sure the plan covers luggage theft, breakage of electronics and, of course, medical care, and you should be all set for your holiday in the sun!

City Breaks

For city breaks, you should make sure first and foremost that your policy provides good coverage in the case of an accident. These are much more frequent in the city than at a beach resort – mostly due to traffic and other common hazards found in this type of environment – and treatment could prove costly. Make sure you’re covered against any eventuality.

Activity Breaks

At the risk of sounding repetitive, it is also crucial that you check to see if your chosen policy offers cover against physical harm before taking off on an activity holiday. However, in this case the matter becomes even a little more complex, as activity-break cover has a very specific set of parameters. It is, therefore, not enough to simply contract any old policy to cover against risk; you should make sure you are buying the correct type, as precedents show that claims have been turned down for this very reason.

Provided you ensure your policy is the correct type for you, you should be fine when trying to file claims with your provider. It is important to remember, however, that ‘family travel insurance’ is an umbrella term for many different types of plans, so take the time to select exactly the right one for you.

A Guide To Home Insurance Coverage

Home insurance coverage will protect you and your family in the event that your house or the items within it are damaged or destroyed. It will also indemnify you in the event that you or a family member is found legally responsible when another person is injured while inside your house or outside on your property. However, not all home insurance policies are the same. It is important to make sure you know what your policy will cover and what is excluded.

Most home insurance policies will cover damage caused by fire, theft, vandalism, lightning, hail, and windstorms. However, damage from more severe sources such as tornadoes, earthquakes, and hurricanes will generally not be included in basic coverage plans. This can be problematic if you live in an area of the country where such natural disasters are common.

Although some types of damage are excluded, most standard home insurance policies include dwelling coverage, which can help you rebuild your house in the event of a disaster included in your plan. This will include repairing structural damage, replacing electrical wiring, fixing your heating and cooling system, and correcting any issues with your plumbing. You will need to be sure to buy enough coverage to cover the entire cost to rebuild, because if you purchase inadequate coverage, you may have to pay for some costs out of your own pocket.

In addition to dwelling coverage, most policies provide coverage for damage to structures that are detached from your house but on your property, such as garages, sheds, and guest cottages. Once again, you will need to be sure you purchase adequate coverage to cover the types of damage you may be at risk for the most.

Home insurance policies will also typically pay for damage to your personal property and items inside your house, as long as the damage is caused by an event that is within your coverage plan. Covered items can include clothing, books, furniture, electronics, and appliances. Whether or not your policy will pay you the value of the items themselves or replace them with the newest models can vary, so you will want to talk to your agent to figure out the specifics of your personal property coverage.

Loss of use coverage is also included in most policies. This type of coverage will protect you in the event that you are unable to live inside your home while it is being rebuilt or repaired, and is helpful if your house sustains severe damage. Loss of use coverage will pay for your temporary housing and additional living expenses if you’re forced to temporarily relocate.

The Different Types Of Commercial Insurance Brokers

To the average man or woman on the street, the world in which commercial insurance brokers live and operate will be little more than a mystery. The field of insurance in general is still barely understood by laymen and women, and with commercial insurance being one of its most specialised branches, this effect is felt several-fold.

Few people seeking to take out this type of insurance will be aware, for instance, that there are several types of commercial insurance brokers on the market, each with its own specific ways to operate, strengths and limitations. At best, most of these men and women will be aware of the existence of the main, larger insurance companies, with the countless smaller operators being known to only a minuscule portion of the overall demographic, mostly through research or word of mouth. Yet, on occasion, these alternative types of commercial insurance brokers may actually be more suited for what an individual or business is after than the more ‘mainstream’ alternatives; it is with that in mind that the present article seeks to introduce prospective clients to the different types of commercial insurance companies available, so that they may assess which will best suit their specific situation.

Insurer-Owned Brokers

Insurer-owned companies are perhaps the most widespread and prolific sub-section of the commercial insurance market, and many of the most popular and best-known commercial insurance brokers fall under this category. As the name indicates, these outfits are owned by large insurance companies, who typically dictate their standards and practices. In certain countries, this model was considered the industry standard for commercial brokers for decades; it has, however, recently begun to lose ground, as the effectiveness of these types of outfits began to dwindle. Nowadays, many experts make a case for the model being outdated, and it is predicted that insurer-owned commercial insurance brokers will continue to lose market space in years to come.

Broker Networks

Broker networks comprise several small commercial insurance brokers, all of which share resources, assets and market opportunities between them. In its ideal form, this is considered to be a beneficial model for companies that choose to join one of these networks, with many of them advertising better commissions for individual brokers and service conditions for the companies as a whole; however, adhesion to this type of network remains uneven between countries.

Consolidated Brokers

Consolidated commercial insurance brokers result from one company assimilating, buying out or otherwise consolidating any number of smaller ones, in similar fashion to a corporate merger. At one point, these types of companies were the most common type of commercial insurance brokers in certain markets, with consolidations happening as frequently as once a week. The practice has significantly lost steam since then, however, mainly due to the fact that the exact benefits to be reaped from consolidation processes are not always clear. This has caused many brokers to sour on the practice, and much like insurer-owner brokers, it is thought that this type of brokerage firm may lose even more ground in years to come.

Independent Brokers

The fourth and final type of brokerage firm are independent brokers, that is, brokers which are not associated with either of the three types described earlier in this article. These tend to be smaller, often family or owner-run companies, with smaller and more personalised client bases, and frequently focused on more specialised or less explored areas of the field. Customers resorting to an independent broker can expect a more personalised service, with a higher rate of face-to-face interactions and more time devoted to each case. This type of company is less prevalent in the modern landscape than any of the previously listed ones, but there are still a few independent commercial insurance brokers left, and they tend to attract a small yet loyal customer base.

These are, in broad strokes, the main types of commercial insurance brokers available to customers. It is, therefore, up to each individual to work out which business configuration would be most suitable to their specific needs, in order to avoid disappointment down the road.

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