With the internet boom, some consumers are looking for their insurance online. Many people, confused by all the insurance jargon, trust their insurance agent or broker to guide them in making the right choices. But, there are different kinds of insurance agents and brokers, and, the one a person chooses can make a big difference in the type of service he receives as well as the choices he is offered. There are captive agents and independent agents. They each approach protecting their client in different ways.
Captive agents work with a specific insurance company, and as part of their business agreement with that company, they can offer only that company’s insurance products. They may also be required to sell other products from that company, such as annuities and investment plans. Since they only sell for one company, they generally have an in-depth knowledge of that company’s policies.
Independent agents and brokers can offer products from different insurance companies. Having more companies helps them better serve their clients, as they can review multiple options to find a policy and rate that is right for each individual. Insurance rates vary from company to company. Independent agents can put together a customized insurance plan. Plus, they can offer affordable protection for a home, business and other assets. So, rather than spending hours gathering quotes from various companies, everything can be accomplished with just one call.
A good insurance professional will know all the questions to ask in order to assess his clients to find the right insurance coverage. He or she will also know how to attain a variety of discounts that are often overlooked when purchasing over the internet. Remember, many factors determine car insurance rates.
Companies look at driving history, type of car, claims history and other factors to determine rates. Taking a driver safety course or getting married may help increase policy discounts. An independent agent or broker can offer advice on what level of coverage makes the most sense for an older vehicle.
Consider separating a homeowner’s policy from the car insurance policy. Bundling the two policies does not always equal cost savings. It may, but have an independent agent should evaluate the effects of separating the policies. The discount for keeping them together may be outweighed by the lower price another company has for car insurance. An independent agent or broker can offer guidance for multiple insurance needs-auto, home, life, business and more. They can customize a package of policies just for any consumer.