3. An Advocate for Customers

They save you money because independent insurance brokers aren’t tied to a single carrier, they will shop multiple insurance carriers for the best rates for you. That means you’ll be able to compare pricing from several carriers for the same policy. This comparison can frequently result in significant cost savings. You can save even more money by taking advantage of multi-policy discounts and purchasing insurance plans that operate together to provide comprehensive coverage. Private insurance brokers work with a variety of insurance companies to find you the best coverage at the best price. An advocate for customers instead of working for a single corporation, an independent insurance agent works for the customer.

5. They Get to Know You

In addition to receiving commissions, some insurance brokers also charge fees. In general, broker fees must be reasonable and disclosed to the buyer. Your state might also have fee restrictions. For instance, in florida broker fees are capped at $35. Broker fees are often nonrefundable, so if you cancel your policy, you won’t get your money back unless your insurance broker was dishonest. » more: how to find the right insurance agent or broker.

Insurance Agent vs Buying Insurance Directly From Insurance Company

Our endorsed local providers (elps) are all independent agents. They work for you, not the insurance company. Plus, they’re your neighbors and will take the time to get to know you—so you never feel like you’re just another number in a sea of faceless customers. Their number-one goal is to help you find a policy that’s tailor-made for you and your family. Connect with an elp today!.

Independent insurance agent s are those who are contracted to work with a variety of insurance companies and can sell policies from multiple providers. In contrast, captive agents are those who are contracted to work for one insurance company and can sell only that company’s policies.

Independent insurance agents help customers navigate the often-complex world of insurance to find the right coverage and protection at the best rates possible. Independent agents and brokers are not employees of national general or any other insurance company. They represent several insurance carriers, which gives them the ability to offer customers plenty of options. Local independent agents choose which companies to represent, assuring that any product they offer is issued by a reliable company with solid financial strength. Some local agents specialize in auto, home or health insurance, while others offer a full suite of coverage. A local agent will help coordinate coverage to ensure customers get the best protection at the best price,.

Access to more options: independent agents have access to a variety of insurance companies, which allows them to deliver more options. They will search through all the available options for you to bring you the best possible combination of price, coverage, and service. More options mean lower premiums for you. Local knowledge for policy coverage: this is a major factor when it comes to an understanding of special exposures like flood, wind, earthquakes, and different kinds of personal and business insurance. Strong client relationships: working with an independent insurance agent allows you to establish protection with someone who is dedicated to understanding your personal needs.

We Make Insurance Easy For You!

With a local independent insurance agent, you get someone who’s just a quick phone call away and knows exactly what you need. If your business needs change suddenly, getting hold of your agent is as easy as it gets. Plus, they’ve been through this all before many, many times over and know all about any state-specific requirements, general insider details, and so on. You just can’t beat that.

Updated november 9, 2022 first-time homeowners understandably get caught up in the excitement of buying their own place. It’s easy to focus on the new rooms and how your furniture will align in the space. But something that’s often lost in the mix is home insurance — an essential part of finally closing the deal on your dream home. Before a lender hands over the money (and the mountain of paperwork) that allows you to buy a place to call your own, they’re going to ask a simple question: where’s your home insurance policy? this is often a question that stops first-time homeowners in their tracks, so we’re here to make the process easier for you.

Direct Insurance From Insurance Company

Some of you may not know what a captive agent is. A captive agent is a licensed insurance agent that represents one insurance company. Insurance companies such as state farm, allstate, farm bureau, and farmers all sell their insurance products through a captive agent. There are some advantages to using a captive agent. The brand recognition of captive agent companies is seen everyday in their countless advertisements. We are all familiar with the companies and what they have to offer, which establishes a feeling of comfort for most consumers. That feeling of comfort and security is vitally important when it comes to your insurance.

Purchasing insurance that’s right for your situation can be overwhelming. You can buy your insurance directly from the insurer or a captive agent who works for just one insurance company. However, there are distinct advantages to working with an independent insurance agent. What is an independent insurance agent? an independent insurance agent is a licensed professional who works with numerous insurers to provide access to high-quality insurance products. Captive agents are also licensed, but they work with a single insurer. They can sell only policies provided by their employer. Advantages of working with an independent insurance agent when you choose to work with an independent insurance agent, you’ll experience several benefits, including:.

The biggest difference between captive and independent insurance agents is in compensation. Typically, independent insurance agents take home a higher percentage of the sales they make, sometimes earning commissions as much as 50% higher than their exclusive agent counterparts. That said, independent insurance agents are also responsible for paying for all their own overhead, meaning that much of their earnings is spent maintaining their independent business operation. For captive insurance agents, lower commission rates are a tradeoff made in return for the insurance companies they are contracted with paying a significant portion of their overhead, as well as often paying them a salary in addition to commissions earned from sales.