The Benefits of Using an Insurance Broker

Insurance made easier and more convenient.

Finding insurance that works best for your specific set of circumstances and needs can be a tall order. Have you ever shopped around for the best company to go with, the right policies to cover any eventuality, and a way to combine your different covers for the most cost-effective solution? If so, you’ll know how tricky it can be. Navigating this vast industry full of legalities is difficult for anyone who doesn’t work in the field.

Thankfully, no-one needs to undertake the search for insurance without expert help—that’s the role of brokers. A good insurance broker works independently from insurance companies and on behalf of their clients to find the best possible cover. With this comes an array of benefits, making using a broker the best option for any insurance seeker. We’ve laid them out below; read on to get an idea of what you could be missing out on when you go it alone!

The best cover
One of the primary objectives of an insurance broker is to arrange the best possible cover for clients, in order to meet their specific needs and ensure they can claim when needed most. By contrast, finding insurance on your own can easily result in either under or over insurance; neither of which is a desired outcome.

This is why many turn to brokers for guidance. Brokers are the experts in discovering what their clients really need, and accurately assessing risk to determine what’s worth the expense and what may be superfluous. Using a good broker therefore means you are getting both the best value and the right cover for your situation.

Expert advice from the professionals
An experienced broker is a wealth of knowledge and an invaluable asset for anyone in the market for insurance. The insurance industry is far-reaching and complex, presenting many pitfalls to the unsuspecting consumer. A broker can navigate those murky waters and come up with the very best options for each client. It’s no easy task, considering that each person, family, or organisation has unique needs for their insurance coverage. Great brokers will be able to assess risk and advise a client on which insurance types would be relevant and valuable.

Many insurance brokers specialise in a specific sector of the insurance industry or several related sectors. This allows them to provide even more specialised and targeted advice and guidance to clients. Just as you would do for any service provider, it’s important to find a broker that fits your requirements and to check their professional credentials—such as industry awards and affiliations with professional bodies like the Insurance Brokers Association of New Zealand.

An array of options
Most people seeking insurance will compare a few options from the bigger insurance companies—the most diligent may even check out four or five before making a decision. This can, however, be a tedious and confusing task for clients to undertake on their own; and they will not have access the same options as a broker. Brokers also have the knowledge required to sift through the possibilities efficiently, to find the ones that will work best for any situation. Experience and expertise mean that a broker can compare and consider far more possibilities than your average insurance-seeking joe!

While brokers do work with the big insurance companies, they may also have access to policies and insurers that are not well known to the public. This opens up the options beyond the obvious and is especially useful for anyone with unique insurance needs that may be better served by a lesser-known provider.

Time saved
As we mentioned in the previous section, finding the perfect insurance policy or policies is time-consuming and tedious. Using a broker vastly cuts down on hours spent finding and organising your insurance, as their job is to do the hard yards for you. For individuals and businesses alike, time is often money—and taking advantage of a broker saves both.

Convenience
The role of a broker goes beyond just finding the right insurance for a person, family, or business. They will also facilitate and manage the process of signing up for cover, as well as advocating on the clients’ behalf for any claims. Generally, making a claim through a broker is a much faster and easier experience than dealing directly with the insurance provider.

At the heart of it, an insurance broker’s job is to find their clients comprehensive insurance solutions that fit their needs and budget. Their expertise means they can hunt out the best and most affordable options to suit the situation, including those which might be difficult to find for those outside the industry. They also do the legwork, saving time and making the entire process much quicker and more convenient for their clients.

Runacres Insurance is an award-winning team of brokers serving clients across New Zealand. As members of NZbrokers, the country’s largest insurance broking collective, we draw on a huge pool of experience while making the most of local knowledge to find the absolute best insurance solutions for our clients. We also support our communities through sponsorships of various sports teams and arts initiatives—people are important to us, and that’s why we do what we do.

Contact the Runacres team today for advice on business or personal insurance. We’d love to demonstrate the benefits of using an insurance broker with our friendly, professional service!


Runacres Insurance – the winner of ANZIIF Award 2019

Runacres Insurance has won the ANZIIF Award 2019 in the category of Small-Medium Broking Company of the Year

Runacres Insurance are proud to announce that we have won the 2019 ANZIIF Small-Medium Broking Company of the Year award. This is the second time that Runacres has been awarded Small/Medium sized Brokerage of the year.

“Since winning this category in 2015 Runacres has continued to evolve and I am thrilled to lead such exciting, experienced & talented teams, based in Christchurch, Greymouth and here in Auckland,” said David Crick, Managing Director.

Crick further commented “Our commitment to excellent client service since 2015 has seen us invest significantly by increasing our number of staff over 50% to 42 staff, investing significantly in IT infrastructure, organic growth via our sales teams & a further acquisition in Auckland. A key component in assisting Runacres to attract & retain key talent in the Broking Industry has been training via ANZIIF which has in turn contributed to our growth and service delivery strategy.”

A word from ANZIIF

This year’s winner Runacres Insurance submitted a strong case for consideration. The organisation has streamlined its business to produce successful results of a range of targeted campaigns.

Judges recognised the organisation’s ability to maintain a consistently high client retention rate and deliver impeccable service to clients.

To address changes and potential risks in the industry, Runacres Insurance implemented a number of innovations including enhanced cyber security.

With strong financial results over a three-year period, the organisation has successfully increased revenue without impacting on its investment in people.

The judging panel commented Runacres Insurance for their serious approach towards professional development and their goal to have all staff qualified by 2021.

Runacres Insurance continue to add significant value to the New Zealand broking community with active roles in many organisations.

ANZIIF reveals winners of 2019 NZ Insurance Industry Awards

The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has revealed the winners of this year’s New Zealand Insurance Industry Awards. The event, which was attended by 400 insurance professionals, celebrated the achievements of outstanding individuals and companies in the industry. Read more…

Watch the Award Acceptance Speech by David Crick

Awards Night Image Gallery

Runacres proudly supports local U12 rugby team

Runacres proudly supports local U12 rugby team

Like many Kiwis, rugby is a part of our DNA here at Runacres. From grassroots, to provincial through to supporting our boys in black, we can’t help but get behind our nation’s favourite sport.

We believe though, that encouraging healthy and positive involvement with the sport starts by nurturing our youngest players. Giving youngsters in our community the opportunity to develop, learn, excel and build friendships through sport is something we’re glad to get behind. It’s in the clubrooms of local sports grounds that a lifelong love of sport is formed and where communities come together to connect through a shared enjoyment of the game.

Which is why we we’re proud to have sponsored Lyttelton Rugby Club’s Under 12 rugby team’s annual Titahi Bay trip.

More than a rugby match

The competition between Lyttelton Rugby Club and Norths Rugby Club (previously Titahi Bay Rugby Club) has a long history – 54 years in fact. Its story starts in a local bar in Lyttelton in 1965, where a waterside Norman (Skeeta) Bachop from the Lyttelton Rugby Club and a seaman Bill (Pincha) Martin from the Titahi Bay Rugby Club were discussing which club had the better under weight team, as both of these men coached in their respective clubs. After a couple more drinks it was decided that Skeeta would arrange for Lyttelton Rugby Club to send a team to play a team from Pincha’s Titahi Bay Rugby Club to settle this discussion.

More than half a century later, and the battle still goes on!

Importantly though, this is more than a friendly competition between two proud clubs. It’s a chance to help build confidence in young players as they spend time away from home, staying with a billet family. It pushes many players out of their comfort one, and so many of them return home with more life skills and confidence.

These young men are in good company. Many successful sportsmen have participated in this long-standing event, including former All Blacks Steven and Graham Bachop, Aaron and Nathan Mauger, Ben and Owen Franks, Jerry Collins and TJ Perenara, as well as golfer Michael Campbell.

To think this trip could play a part in the making of some future sports stars is an exciting prospect!

Instilling healthy values

Most of us are aware of the physical health benefits of playing sports from a young age – strength, coordination and fitness. But being involved in a team and club environment also brings with it other factors that are critical to the healthy development of our younger members of the community. Things like friendship, leadership, responsibility, accountability, self-esteem, perseverance, empathy and pride. These are all characteristics that the younger generation can call on as they continue to develop socially and cognitively, and begin to contribute in other ways to their communities.

Supporting our community

Lyttelton Rugby Club is a family-oriented club for both junior and senior players. Like most community organisations, it relies on the generosity of volunteers who give their time to help run the club, coach teams, support the club community and fundraise for trips such as this.

We know that sponsorship from businesses like ours goes a long way to ensuring that this trip, and other club initiatives, are possible for the club’s young players. As a Canterbury-based business with offices across New Zealand, supporting locals is a part of our business philosophy. Helping you protect whatever it is that matters most to you means you can focus on doing the things you love, free from the concern of financial burden should the unexpected happen. Click here to learn more about our products and services.

We’re looking forward to seeing these young players develop further, and who knows, perhaps we’ll see their names on the back of a black jersey one day.