In short: an insurance broker is an intermediary who can explain your options and ask insurers for quotes. Before choosing one, it helps to ask which insurers they can approach, how they are paid, what help you can expect with claims, and how well they know the island. This article is general information, not a recommendation of any particular broker, including ourselves.
This is the short version. The full guide, with the broker, agent and insurer comparison, red flags and where to check registration, is How do you choose an insurance broker in Sint Maarten?
What a broker does
A broker usually acts between you and the insurers. A broker can typically:
- Ask about your situation and explain the types of cover that may be relevant.
- Request quotes from more than one insurer, depending on the risk.
- Explain policy wording, such as limits, exclusions and deductibles.
- Help with paperwork, renewals and changes during the year.
- Help you with a claim, for example by gathering documents and passing information to the insurer.
An insurer’s own representative usually discusses that insurer’s products, while a broker can usually discuss more than one. The What does an insurance broker do page describes this in more detail.
Questions worth asking
- Which insurers can you approach for my type of cover? The answer may differ for a home, a vessel, a restaurant or a contractor.
- How are you paid? Brokers may be paid by commission from the insurer, by a fee, or both. It is reasonable to ask.
- Are you authorised to work where I live and where my property is? Insurance is supervised separately on the Dutch and French sides of the island, so it is reasonable to ask which supervisor the broker is registered with and to ask for evidence.
- Who will deal with me, and how can I reach them? Ask how questions are answered and whether there is a named contact.
- What happens when I need to make a claim? Ask what the broker does, what you still have to do yourself and who decides the claim. The insurer decides the claim, not the broker.
- Do you review policies after they start? Needs change as families grow and businesses expand. See ongoing policy review.
- Will you explain the wording in plain language? A good test is to ask about a term you are unsure of, such as a named-storm deductible.
Signs to be careful about
- Pressure to buy immediately, with no time to read the wording.
- A reluctance to explain what is excluded.
- An unclear answer when you ask how the broker is paid.
- A quote with no written summary of the cover, limits and deductible.
What to prepare before you call
- A list of what you want to insure, with approximate values.
- Your current policies, if you have any, and their renewal dates.
- Any claims you have made in the past.
- For a business, what it does, how many people it employs and what a landlord or contract requires.
Our insurance needs assessment page describes how assets and risks can be listed, and the comparison shopping page explains how quotes can be compared.
Local knowledge
The island is divided between Sint Maarten and Saint-Martin, hurricane season runs from 1 June to 30 November, and many policies treat storm damage in particular ways. A broker who works on the island every day can explain how these points apply to your property, vehicle or business. It is worth asking for an example of how a similar situation was handled, without personal details.
To talk it through, request a call back or call +1 721 542 5078. The offices are in Philipsburg and Cole Bay.
This website gives general information about insurance. It is not personal advice, a recommendation or an offer of cover. Terms, limits, exclusions and availability depend on the insurer and the policy wording.