How to Evaluate Your Insurance Broker Before Defining Your Protection Strategy

Purchasing business insurance shouldn’t be limited to comparing premiums or filling out forms. Proper protection requires understanding your company’s real operational risks, anticipating potential loss scenarios, and structuring an insurance program aligned with your organization’s strategic goals.

That’s why the value of an insurance broker lies not only in securing competitive prices but in becoming a strategic partner for your business continuity.

Before purchasing a policy, there are key questions every decision-maker should ask their broker. The answers will reveal their level of knowledge, commitment, and approach to comprehensive risk management.

1. What specific risks does my company face, and which are the most critical?

Every insurance program must begin with a diagnosis. A good broker shouldn’t simply list available coverages—they should help you identify critical risks based on your industry, size, location, operations, and value chain.

What to look for:

• A comprehensive exposure analysis (operational, legal, financial, reputational, and technological).

• Risk assessments based on impact and probability.

• Prioritization of risks to be insured vs. those to be managed through other means.

2. Which insurers do you recommend for my profile, and why?

An independent broker works with multiple insurers and should be able to justify why they’re recommending one over another. This should include technical criteria, service quality, financial strength, and experience in your industry.

What to look for:

• Comparisons that go beyond pricing—covering terms, exclusions, claim response times, and financial ratings.

• Recommendations based on real-world claim experience, not just quotes.

• Insight into the insurer’s reputation within the Mexican market.

3. What coverage do I actually need—and what can I skip?

Not all companies require the same level of protection. An overloaded policy can result in unnecessary expenses, while an underinsured one leaves you exposed.

What to look for:

• A clear explanation of which risks are worth insuring and why.

• Review of legally required or contractually mandated coverage.

• Benchmarking recommendations based on similar companies in your sector or size.

4. How are deductibles, co-insurance, and coverage limits structured?

The premium is only part of the equation. What really matters is how much the insurer will pay in a claim—and how much you’ll have to cover out-of-pocket.

What to look for:

• Detailed explanation of coverage scope, including overall and sub-limits.

• Real implications of deductibles and co-insurance in a loss scenario.

• Loss simulations to visualize potential financial impact.

5. What is not covered by the policy, and how can I manage those risks?

Exclusions are a critical part of any insurance contract. A responsible broker should clearly explain what’s not covered and help you decide how to address these gaps.

What to look for:

• A list of key exclusions relevant to your operations.

• Options to address them via endorsements, additional coverage, or preventive measures.

• Alerts about uncommon or ambiguously worded exclusions.

6. What experience do you have handling claims for businesses like mine?

A broker’s real value is tested during a claim. Proper claims management can mean the difference between a fair settlement and a major loss.

What to look for:

• Real examples of claims support for similar companies.

• Average resolution times and recovery rates.

• Strategy and advocacy during disputes with insurers.

7. What additional services do you offer as part of your support?

Top-tier brokers go beyond placing policies. Their focus is on managing risk as a continuous process and delivering tangible value throughout the policy’s lifecycle.

What to look for:

• Access to tech tools, training, or audits.

• Technical support throughout the claims process.

• Claims reports, trend analysis, and improvement plans.

8. What is your policy for renewing and updating insurance programs?

Your company evolves. A static insurance program can quickly become outdated. A strategic broker anticipates and adjusts accordingly.

What to look for:

• Regular meetings to review exposures and adjust as needed.

• Early renewal planning to renegotiate terms in time.

• Real-time updates for major changes (expansion, mergers, new products, etc.).

An insurance broker should be more than a vendor—they should be your strategic advisor in risk management. Asking the right questions before purchasing a policy won’t just get you better terms; it will lay the foundation for a partnership built on trust, transparency, and measurable results.

Your company deserves more than a policy—it deserves a tailored protection program backed by experts who understand your business vision.

Are you ready to assess whether your company has the protection it truly needs? We’re here to help you build a program that not only secures your present but drives your future growth.

Sáas Practice

At Sáas, we have a team of consultants specialized in structuring corporate insurance programs aligned with your company’s risk management strategy. Our approach combines in-depth analysis, technical design, and negotiation with leading insurers to deliver comprehensive solutions that strengthen your organization’s protection, continuity, and resilience.

Let’s talk about how to design an insurance program that drives the strength and sustainability of your business.