Shot of a young businesswoman using a laptop while working in her home officeA new year is upon us, which means that many of you are planning out the year ahead and have a general idea of your goals and targets. But one area you may not have considered thinking about is your insurance. More specifically, how using a broker can help you!

Time and time again, we come across people who have the wrong idea of what an insurance broker is and why they are actually advantageous to the consumer. So, how can using a broker help you have a successful year, you might ask? Simple, we work for you! Think of us as another employee or someone you have contracted to work to get you the best coverage, the best price, and continue to work on your behalf all the way through any potential claims. It is important to take the time to find a quality, reputable broker to work with you in fulfilling your insurance needs. Not only will it be time well spent in the beginning when finding a plan, but it will also serve you well for the entire time that you have private health insurance needs, on a yacht or wherever your travels may take you.

What Does a Broker Actually Do That You Cannot Do Yourselves?

First, they spend all day, every day dealing with insurance. They know the insurance industry, they live and breathe insurance, and they understand all the confusing terminology and phrases, which hopefully they can explain to you in a straightforward, no-nonsense way. They also know the insurers, and the people who work there, which is a significant advantage over you calling a toll-free number and hoping for the best.

Second, insurance brokers evaluate and research the marketplace on a regular basis. A reputable broker knows the dynamics of the insurance industry, what the headlines are, what is no longer relevant, and which carriers provide consistent service. Nothing is more frustrating than finding an insurance plan that fits your needs, only to realize at time of claim that the company does not deliver.

Finally, as stated before, a broker advocates and works on your behalf. When a situation arises where a helping hand is needed, you can turn to your broker for assistance, leaving you to continue to concentrate on your work.

But What About Costs?

Have you ever heard the saying, “brokers make you broker”? That saying could not be further from the truth. In contrast, working with a broker can save clients both time and money, in addition to frustration. Insurance brokers receive their compensation from insurers, but that does not (or should not) cloud the judgment of a good broker to recommend whatever policy is most appropriate to the situation as presented by you, the client. At the end of the day, utilizing an expert for the same price as doing everything yourself can only have a positive impact on your bottom-line.

Brokers Can Offer More of a Selection

One benefit of an insurance broker is the selection of policies and plans. Typically, brokers can help you select insurance from a variety of different companies. Different insurance companies offer different plans, so having access to plans from multiple companies can afford you the opportunity to find the coverage that fits you best and fits your budget best.

Also, depending on the insurance brokerage they may sell different types of insurance, allowing you to have a one stop solution for all your insurance needs.

Brokers Do Much More Than Sell Insurance

While brokers may act as the middleman between you and the insurance company, they can be so much more than that. An insurance broker will conduct research for you, file and assist you with the claims process, and work to get you the best coverage option for your situation. Often times a broker has direct connections with decision makers at the insurance companies so you may not have to sit on a 1-800 line for a long time, only to learn someone doesn’t have the authority to help you. Brokers also know which carriers provide consistent service, allowing you to avoid companies that may not deliver the level of care that you deserve at time of claim.

We Work for You!

As brokers, we do not work for any insurance company, we work for you! Our goals are to please you, and make sure all your questions and concerns are handled. If you think about it, with all the benefits of using an insurance broker, it is certainly better than just going out and buying a policy from an insurance agent. Will an agent fight for you and your best interests?

What sets MHG apart from other brokers?

MHG is one of the leading companies to push for crew benefits across both the yachting and cruise industries. 30 years ago, the marine industry started to boom, and MHG has been there from the beginning championing the wellbeing and livelihoods of crew members around the globe. So really and truly, MHG is more than an insurance broker, we are a wellness company!

With our growth in the industry and MHG becoming more and more diverse, MHG also began to offer other areas of coverage such as travel, travel medical and life.

As you can see, using an insurance broker offers a number of benefits, from saving you time, money, stress, etc., helping you focus on your upcoming year ahead. Are you interested in working with an insurance broker to help you achieve your goals? Contact MHG today! Give us a call at 954-828-1819, or visit mhginsurance.com.

A new year is upon us, which means that many of you are planning out the year ahead and have a general idea of your goals and targets. But one area you may not have considered thinking about is your insurance. More specifically, how using a broker can help you!

Young woman with suitcase staring at view We have all thought about it at one point. What would it be like living abroad? The allure of diving into a new culture, discovering opportunities, and learning about yourself is something that many have at least thought about. Some get to experience this due to their job and have to work in a place outside of their home country. While living the life of an expat can certainly have its positives, there are some stressful situations you can find yourself in. One very important reason that comes to mind is assuring you have the proper medical coverage you need, especially being in a foreign place.

What is the best expat health insurance?

If you are an expatriate, and are in the market for expatriate health insurance, you may find yourself overwhelmed with the options of plans to select. So, rather than asking, “What is the best expat health insurance?”, try asking “What do I want or need in my expat health insurance. Let me explain.

What do I need in my expat health insurance?

First and foremost, you need to make sure your medical plan will cover you internationally, as many U.S. health insurances do not include international coverage. It is also important to do some research about the health insurance requirements of your destination country. A number of countries will not let you relocate unless you have health insurance coverage in place, and some require specific coverage, such as medical evacuation or repatriation. Also, if you work will require additional travel, you will need to make sure you will have coverage in those destinations as well. 

What do I want in my expat health insurance?

What you want in your policy really begins to go in line with your budget. For example, how much coverage do you want now that your necessities are covered? Do you have an idea of what you want your deductible or copays to be? Once your needs are met, depending on your budget, you should be able to customize your health insurance to fit your particular lifestyle and budget.

How can I assure that I have everything I want and need?

That is easy, work with a top-rated insurance broker! When looking for the best insurance plan for you and possibly your loved ones, it is always a good idea to work with the experts. For one, they are up to date on everchanging laws and regulations, which benefits you, as you have enough on your plate planning a move to a foreign country. Second, they are experts in the field of insurance, and will be able to help you on all the tricky lingo, such as deductible and max-out-of-pocket. Brokers also have access to a multitude of carriers, so if you have a list of coverage options that you want, they will not be limited to one insurance company, and should be able to offer you a “menu” of different options depending on your budget.

Many of us at MHG are expats ourselves and we understand the global insurance needs of international businesses, and individuals and families living and working around the world. Our Insurance Specialists have the experience, knowledge, and access to multiple international insurance carriers to find you the most suitable plan based on your budget and future plans. Our commitment to your well-being does not end once you have purchased a plan; through our “Concierge Broker Service”, we will continue to assist you with questions about your policy and provide assistance throughout the claims process. Call us at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com for help finding expatriate insurance coverage for you, your family or business!

If you are an expatriate, and are in the market for expatriate health insurance, you may find yourself overwhelmed with the options of plans to select. That's why we're here!

Young happy couple and their insurance agent working on a computer during a meeting in the office. What is the difference between a broker and an agent?

The main difference between an insurance agent and an insurance broker is that agents represent insurance companies, and brokers represent customers. Knowing the difference can be extremely helpful when you are shopping for a new policy or in the market for new coverage.

Why do brokers have a stigma?

Insurance brokers are not evil, in fact they are quite helpful. It is a common misconception that brokers work for insurance companies, however that could not be further from the truth. As insurance brokers, we work for you, the people!

It is also incorrect that working through an insurance broker costs the client more money. In contrast, working with a broker can save clients both time and money, in addition to frustration. Insurance brokers receive their compensation from insurers, but that does not (or should not) cloud the judgement of a good broker to recommend whatever policy is most appropriate to the situation as presented by you, the client.

What does a broker do that I cannot do myself?

First, they spend all day, every day dealing with insurance. They know the insurance industry, they live and breathe insurance, and they understand all the confusing terminology and phrases, which hopefully they can explain to you in a straightforward, no nonsense way. They also know the insurers, and the people who work there, which is a significant advantage over you calling a toll-free number and hoping for the best.

Second, insurance brokers evaluate and research the marketplace on a regular basis. A reputable broker knows the dynamics of the insurance industry, what the headlines are, what is no longer relevant, and which carriers provide consistent service. Nothing is more frustrating than finding an insurance plan that fits your needs, only to realize at time of claim that the company does not deliver.

Finally, as stated before, a broker advocates and works on your behalf. When a situation arises where a helping hand is needed, you can turn to your broker for assistance, leaving you to continue to concentrate on your work.

How do you know if a broker is reputable?

Word of mouth is the best form of marketing for a business, as well as the best form of research for a customer. There is no better way to find something than by asking someone you trust who has experience with your issues or concerns. This is also the case when finding a good insurance broker. Generally, though, you want to look for a broker with experience and longevity in the health insurance business and one who certainly should be able to provide references. It is also important that the broker is specialized and experienced in the yacht crew area as it is quite different from the typical expat insurance market.

Having proper insurance is important. MHG is your specialized broker when it comes to marine specific insurance. Our insurance specialists have the knowledge and experience to find the policy that works best for you. If you are interested in purchasing, or have any questions about yacht crew insurance or travel insurance, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com.

Learn about the benefits of using an insurace broker, and why everyone needs to consider usig one.

Buying Insurance 101

Young couple shaking hands with a female agentBuying insurance, no matter what type, can be an intimidating and daunting task. For one, there is a ton of tricky lingo, a plethora of different coverages amounts and types, and of course the cost. Unless you are someone who works in the insurance industry, chances are insurance lingo can sometimes sound like a different language, and confusing protocol leaving you wondering what to do next.

However, it doesn’t have to be this way! Follow these 5 easy steps when making any insurance purchasing decision to help ease your mind and make the process as smooth and simple as possible.

What am I trying to protect?

When buying insurance, the first thing you need to ask yourself is “What am I trying to protect?” Are you trying to protect your business? Your health? Your kids? Your assets?

Once you have the answer to that question it will narrow down what you should be looking for. For insurance, If you wanted to protect your business, you would want to consider a General Liability policy, or Marine General Liability depending on the business. Protecting your kids? Look into life insurance.

What is my budget?

Once you know what type of insurance product you are in the market for, next you need to figure out your budget. After all, you don’t want to lapse your policy because you can’t afford it down the line if things become tight down the road, so be smart. Depending on your situation and what you are trying to insure, sit down and figure out what you can realistically afford, and what level of priority is the type of insurance you need.

Who do I know?

One thing that can make the decision easier is to figure out if you know anyone that currently has what are looking to get. If you do, ask them about it. What are the pros and cons? Is there anything they would do differently? Is there anything you need to look out for?

What don’t I know?

As with anything you buy, you should always do your own research. Figure out what products are out there, what pitfalls there are, and anything else that will help you get the best out of what you are buying.

Seek out a reputable broker!

Insurance Brokers often get a bad reputation but using a broker can help you avoid situations like this. For one, the majority of brokers are well-versed with the ins and outs of the insurance industry and can help you avoid a negative trend that you may otherwise know nothing about. Not to mention, brokers work for you! Brokers typically operate at no extra cost to you as it would be if you went straight to the insurance company to get your plan. If you would like to learn more details of using an insurance broker, read our previous blog, “Why You Should Use an Insurance Broker”.

Having proper insurance is important whether you are looking to protect your business, your loved ones, or yourself! Our insurance specialists have the knowledge and experience to find the type of insurance you are in search of, and policy that works best for you and your budget. If you are interested in purchasing, or have any questions about marine crew insurance, life & health insurance, travel insurance, expatriate insurance, property & casualty insurance, or ocean marine insurance, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com.

Follow these 5 easy steps when making any insurance purchasing decision to help ease your mind and make the process as smooth and simple as possible.

Shot of a couple looking stressed out while working on their finances at homeThe promise of an amazing benefit is great, but what happens when you try to use that benefit and experience resistance? That seems to be happening more and more when it comes to low-cost insurance plans. When buying insurance, a person is buying an intangible promise. With that mindset, one can see why low-cost insurance is rarely ever low-cost.

Can’t Have Good, Quick, and Cheap

Ever hear the saying you can’t have your cake and eat it to? Typically, with anything in life, you get what you pay for. Consumers are constantly trying to save money any way they can on products or services they buy. However, depending on the product or service, a good “deal” can quickly turn into an absolute nightmare. Low-cost insurance plans are no different. Consumers can expect to receive delayed quotes, slow service, claims issues, and that’s just the tip of the iceberg.

You’ll Pay for It Later

Saving money on premium doesn’t always mean that you’re saving money overall! Many times, those who opt for cheaper insurance end up paying more in the long run because of a lack of coverage that was unknown to them when trying to use their insurance, or even worse, no coverage at all. Imagine being involved in an emergency situation that ends up with you being in the hospital, the last thing you want to be worrying about in that moment is being stuck with the entire hospital bill which could end up being tens of thousands of dollars.

Possibility of No Service

One trend that has popped up as of late are insurance companies offering cheap plans to grow their business. However, businesses can’t afford to continue to operate on low margins, so the customers are the ones who end up suffering. Having a plan with great benefits, but no service when actually trying to use it results in disappointment for the consumer.

Consumers vs. Insurance Companies

Insurance companies are usually very large, so going toe to toe with one is no easy task if you have a dispute with the plan that you have purchased. Even if the consumer is completely in the right about a particular claim or situation, the costs and time involved can be substantial. It is for this reason that you really need to do your research and choose the best plan for your needs, not just the cheapest.

Use a Broker!

Insurance Brokers often get a bad reputation but using a broker can help you avoid situations like this. For one, the majority of brokers are well-versed with the ins and outs of the insurance industry and can help you avoid a negative trend that you may otherwise know nothing about. Not to mention, brokers work for you! Brokers typically operate at no extra cost to you as it would be if you went straight to the insurance company to get your plan. If you would like to learn more details of using an insurance broker, read our previous blog, “Why You Should Use an Insurance Broker”.

Having proper insurance is important in every aspect of life. Whether you are at sea needing international coverage, looking for proper life insurance coverage, going on a vacation, etc. MHG is your specialized broker. Our insurance specialists have the knowledge and experience to find the policy that works best for you. If you are interested in purchasing, or have any questions about marine crew insurance, travel insurance, U.S. life and health, expatriate insurance, or property and casualty, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com.

When buying insurance, a person is buying an intangible promise. With that mindset, one can see why low-cost insurance is rarely ever low-cost.

Your Life Insurance May Not Have International CoverageDo you have Life Insurance? It’s a question that many don’t want to think about for obvious reasons. Some believe that Life Insurance isn’t a priority because they procrastinate, or are waiting until a life changing event that will motivate them purchase a policy. It’s a fact, the benefits that a good life insurance policy can supply your family and loved ones are too good to pass up. Many people have life insurance and believe that they have coverage until the day they die. However, in some circumstances that is not the case, and it’s not because your term life policy expired. So maybe a better question would be, do you have International Life Insurance?

Do I have international coverage?

Many people do not know that their life insurance policy will not continue to offer them coverage if they happen to move to a new country. Typically, if you are in a foreign country for 3 or more months, your life insurance will not offer the coverage that you have been paying for. This is part of the “small print” that many may not know about. So if you are a world traveler, or hope to move to a foreign country one day, or are an expat who looks to settle down back home when you are done with your career abroad, it may be smart to look at your policy and see if you are covered.

Does international coverage exist?

There are several life insurance options that offer international coverage, and will pay the death benefit for expats or others who unthinkably pass while not in their home country. I know you’re wondering if having international coverage makes your premiums more expensive, but in many cases the premiums are in the same ball park as life insurance policies that don’t have international coverage, sometimes even less! Usually the only thing that will affect your premium is the policy amount, your age, and any health problems you may have.

Do I need international coverage?

As I stated earlier, having Life Insurance should be a priority for everyone. If being away from your home country or the country where your life insurance policy was purchased for an extended period of time applies to you, then international life insurance should be a priority. Deciding if you need the extra coverage is the easy part, now comes what type of policy is right for you!

There are many things to take into consideration when making the decision of which type of policy is best for you, your family, or loved ones. Are you interested in purchasing Life Insurance or International Life Insurance? Would you like some more information regarding Life Insurance options that are available to you? Would you like to ask some questions to a Life Insurance expert? If the answer to any of these questions is yes, please contact us 954-828-1819 or visit us online at mhginsurance.com and talk to one of our insurance specialists for help in selecting Life Insurance and other coverage to ensure that you and your loved ones have the protection you need at every stage of life.

Do you have Life Insurance? Maybe a better question would be, do you have International Life Insurance?

Why it’s Great to be an Expat in Fort Lauderdale! You know what they say about real estate, “location, location, location!” There are few better locations to live than in sunny South Florida, Fort Lauderdale to be specific. Minutes away from the beach, vibrant downtown city life, and a growing suburb population, Fort Lauderdale has everything you are looking for in a place to call home.

One of the most glaring is the amazing weather. There is a reason people from colder climates come to South Florida during the winter months. How would you like to live where people vacation? Also, one of the great features of Fort Lauderdale is that it is centrally located in South Florida, between Miami and West Palm Beach. Fort Lauderdale also has a growing number of expatriates and as more and more companies are opening branches and headquarters here, as this area is a link to South America and the Caribbean.

If you are ready to become an expatriate, or are just looking to relocate, Fort Lauderdale should be a city you consider for many reasons.

What to Do

Fort Lauderdale has something for everyone. Are you an outdoors person? You can visit the everglades and go on a hike to see wildlife that you can’t see anywhere else in the world. Go on a fishing trip, saltwater or fresh water. Go camping in one of the nature parks throughout the area.

Looking for something more relaxing? Visit one of the many museums in the city, take in a show at the Broward Center for Performing Arts. Enjoy a day catching some rays at the beach.

Are you a sports fan? Attend a game of one of the many professional and collegiate athletic teams in South Florida. The options are endless. World famous restaurants, world renowned shopping, no matter what you enjoy doing in your spare time, Fort Lauderdale has it!

Business Side

Like many metropolitan areas, Fort Lauderdale has many different professions to choose from. But one profession in particular that brings people from around the world is yachting! Fort Lauderdale is known as the yachting capital of the world, and with that title comes great maritime presence. It just so happens that the city is also home to a very popular port for cruise ships, and is a short car ride away from many of the cruise line’s headquarters.

Before relocating to another country, trying to find expatriate health insurance coverage on your own can be a daunting task. Not to mention the checklist you must complete before leaving. For help developing a checklist, read our previous blog, “Expat Checklist before the Big Move.”

Many of us at MHG are expats ourselves and we understand the global insurance needs of international businesses, and individuals and families living and working around the world. Our Insurance Specialists have the experience, knowledge, and access to multiple international insurance carriers to find you the most suitable plan based on your budget and future plans. Our commitment to your well-being does not end once you have purchased a plan; through our “Concierge Broker Service”, we will continue to assist you with questions about your policy and provide assistance throughout the claims process. Call us at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com for help finding expatriate insurance coverage for you, your family or business!

There are few better locations to live as an expat than in sunny South Florida, Fort Lauderdale to be specific. Read more to learn why!

Tips for Attracting Expat Workers

Tips for Attracting Expat WorkersMoving to a new country for work is a big decision for someone to make. Many times, a person must consider moving their spouse, family, and must do research on the area to see if it is even a feasible option to relocate there. While it can be difficult to finally make the decision to become an expatriate, it can also be difficult for companies to lure expatriate workers to come work for them. While providing great benefits is an obvious must-do to make the job attractive, some businesses don’t realize the extent those benefits can go to in order to assure that their workers are happy and feel taken care of which often creates a loyal employee. Here are some ideas to attract expat workers.

Life and Health Benefits

One of the more obvious benefits to offer workers, whether they are expats or not is providing workers with good health insurance. It would be even better if you covered 100% of the premiums, leaving more money in your worker’s paychecks. Also, many companies also cover their employees with life insurance, with the amount dependent on their salary.

Pay for the Move

Something that may assist a foreign worker joining your company is your willingness to assist them on their big move. Relocating from a different country can turn out to be quite the investment. Covering moving costs, or even helping them find housing could be a make or break detail that dictates their decision.

More Vacation

If someone is moving from another country to come and work for your company, they are likely leaving behind friends, family, and a whole other life. Offering more vacation days would allow them to go back home more often to cure any home sickness they get.

Develop a Program

Many companies have expatriate programs set up to assistance their workers with settling into their new environment. Whether it is getting their kids set up in the best schools nearby, organizing events to mingle and getting to know the area, or even having someone on staff who is the go to person to answer any questions or offer any assistance to those new to the area.

Government and Legal Support

Every country has different laws regarding immigration and expatriates, and some governments offer more assistance than others. If you happen to live in a country who offers more assistance to expats, or it may be easier to get someone cleared to come work for you, take advantage of it. Promote it to workers, and let them know the process won’t give them a headache.

Security

Depending on the country, one perk you may be able to offer workers is more security. Many expatriate workers come from troubled areas, and the idea of move to a more stable and secure country is very appealing. Especially if they can also benefit from a stronger economy than the one back home.

Many of us at MHG are expats ourselves and we understand the global insurance needs of international businesses, and individuals and families living and working around the world. Our Insurance Specialists have the experience, knowledge, and access to multiple international insurance carriers to find you the most suitable plan based on your budget and future plans. Our commitment to your well-being does not end once you have purchased a plan; through our “Concierge Broker Service”, we will continue to assist you with questions about your policy and provide assistance throughout the claims process. Call us at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com for help finding expatriate insurance coverage for you, your family or business!

Moving to a new country for work is a big decision for someone to make. Here are some ideas to attract expat workers.

Young couple meeting with a insurance brokerMany people in the insurance industry work hard to avoid the bad reputation that insurance typically carries. However, people often jump to negative conclusions about anything involving insurance. Time and time again, we come across people who have the wrong idea of what an insurance broker is and why they are actually advantageous to the consumer. We have heard they are a waste of time, waste of money, and only care about making their commission. Being a dedicated group of insurance brokers, we can tell you that those descriptions are often false! Everyone is entitled to their own opinion, but when we hear information that is incorrect, it encourages us to step in. Do you know what an insurance broker does?

If you know the answer to, then you are already aware of all the benefits of using an insurance broker. If not, learn why you should be using one. Take the time to find a quality, reputable broker to work with you in fulfilling your insurance needs. Not only will it be time well spent in the beginning, but it will also serve you well for the entire time that you have insurance needs, whether you are working on a yacht or wherever your travels may take you.

Brokers Can Offer More of a Selection

One benefit of an insurance broker is the selection of policies and plans. Typically, brokers can help you select insurance from a variety of different companies. Different insurance companies offer different plans, so having access to plans from multiple companies can afford you the opportunity to find the coverage that fits you best.

Also, depending on the insurance brokerage they may sell different types of insurance, allowing you to have a one stop solution for all your insurance needs.

Brokers Do Much More Than Sell Insurance

While brokers may act as the middle man between you and the insurance company, they can be so much more than that. An insurance broker will conduct research for you, file and assist you with the claims process, and work to get you the best coverage option for your situation. Often times a broker has direct connections with decision makers at the insurance companies so you may not have to sit on a 1-800 line for a long time, only to learn someone doesn’t have the authority to help you. Brokers also know which carriers provide consistent service, allowing you to avoid companies that may not deliver the level of care that you deserve at time of claim.

We Work for You

As brokers, we do not work for any insurance company, we work for you! Our goals are to please you, and make sure all you questions and concerns are handled. If you think about it, with all the benefits of using an insurance broker, it is certainly better than just going out and buying a policy from an insurance agent. Will an agent fight for you and your best interests?

Having proper insurance is important in every aspect of life. Whether you are at sea needing international coverage, looking for proper life insurance coverage, going on a vacation, etc. MHG is your specialized broker. Our insurance specialists have the knowledge and experience to find the policy that works best for you. If you are interested in purchasing, or have any questions about marine crew insurance, travel insurance, U.S. life and health, expatriate insurance, or property and casualty, please contact us at

+1 954 828 1819 or +44 (0) 1624 678668
or visit us online at mhginsurance.com. For more information on debunking insurance broker myths, read our previous blog, Debunking 5 Myths About Insurance Brokers.

Everyone is entitled to their own opinion, but when we hear information that is incorrect, it encourages us to step in. Do you know what an insurance broker does?

brown paper ripped showing the text uncover the factsIt seems as if every day we hear myths regarding insurance brokers. We often find ourselves debunking false statements and explaining to clients that they received inaccurate information. Sometimes, people or products get a bad reputation that is unwarranted, for whatever reason. So here are five common myths that may have given the term insurance brokers a bad name.

1. “Insurance brokers are more expensive”

Have you ever heard the saying, “brokers make you broker”? That saying could not be further from the truth. In contrast, working with a broker can actually save clients both time and money, in addition to frustration. Insurance brokers receive their compensation from insurers, but that does not (or should not) cloud the judgment of a good broker to recommend whatever policy is most appropriate to the situation as presented by you, the client.

2. “Insurance brokers work for the insurance company”

There are a lot of people who think that insurance brokers work for the insurance company, however again that is not correct. A broker advocates and works on your behalf. Basically, they work for you! Yes, they work with the insurance company in order to deliver proper coverage to people, however their concern should always be their clients.

3. “Insurance brokers are just a middle man”

While brokers may act as the middle man between you and the insurance company, they are so much more than just a middle man. In many cases, an insurance broker will conduct research for you, file and assist you with claims through the entire process, and work to get you the best coverage option for your situation. Often times a broker has direct connections with decision makers at insurance companies so you don’t have to sit on a 1-800 line for 20 minutes to talk to someone that doesn’t have the authority to help you.

4. “Insurance brokers can’t offer the best plans”

Insurance brokers can offer the same plans that an insurance company does, for the same premium as going straight to the insurance company. In fact, going through an insurance broker should give you more value for your dollar simply because of all the added benefits that an insurance broker will perform for you.

5. “Insurance brokers aren’t as knowledgeable”

Insurance brokers are very knowledgeable. They spend all day, every day dealing with insurance. They know the industry, they live and breathe insurance, and they understand all the confusing terminology and phrases, which hopefully they can explain to you in a straightforward, no nonsense way. They also know the insurers, and the people who work there, which is a significant advantage over you calling a toll-free number and hoping for the best.

Having proper insurance is important whether you are at sea, or docked at a shipyard. MHG is your specialized broker when it comes to crew insurance. Our insurance specialists have the knowledge and experience to find the policy that works best for you. If you are interested in purchasing, or have any questions about yacht crew insurance or travel insurance, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com. For more information on preparing to work on a yacht, read our previous blog, Yacht Crew Insurance Terms 101.

Sometimes, people or products get a bad reputation that is unwarranted, for whatever reason. Insurance brokers are one of them, read more.