The Independent Insurance Agent
Updated: Aug 10, 2021
Do you know the best way to purchase insurance?
While most people think that buying any sort of insurance plan entails going online, looking over various policies, and choosing one right then and there, you do have other options.
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Below, we’ll go over the top three ways most people purchase insurance. We’ll also let you know the best way to purchase it — the way you can get the most value for your dollar, every time.
3 Ways to Purchase Insurance
Direct: This is the most common way to purchase insurance. Essentially, you go directly to the insurance company (either by calling them are going online), and you purchase whatever plan of theirs you like best. Generally speaking, you don’t get much assistance from those at the insurance company itself. You’re doing the research and legwork on your own.
Captive Agent: These agents give you some help in finding the right insurance policy for you. But while a captive agent will provide slightly more assistance in finding the right insurance plans you need, captive agents work for insurance companies. In particular, they work for just one insurance company (thus the “captive” in their name). For example, you might meet with a local captive agent who works only for American Family Insurance, and therefore, the plans you have to choose from will be only from American Family.
Independent Agent: An independent agent is like a captive agent, but they work for multiple insurance companies. For instance, you might have an independent agent who works for Hartford, Safeco, and Travelers. They’ll be able to go through all of these insurance companies’ policies to find the ones that truly meet your needs.
What’s the Best Way to Buy Insurance?
As you may have deduced already, working with an independent agent is the best way to go. Insurance is a serious business, and it’s not something that you can purchase on the fly like other products and services. Everyone needs insurance, and moreover, we all need multiple types of insurance. It is essential that you find the right limits and coverage for your policies. Working with an independent agent toward this goal provides numerous benefits.
The Benefits of an Independent Agent
Convenience & Locality
Unlike working with an insurance agency that provides auto insurance, then moving on to finding a health insurance company, a home insurance company, etc., when you work with an independent agent, you can get all of your insurance policies purchased at one time. Furthermore, independent agents need to be local because they meet with you face-to-face — always a better situation than having to call through phone systems and wait on hold for large chunks of your day.
Every independent insurance agent does earn a commission. However, the cost of this commission is not necessarily going to be more than if you purchased your insurance direct from the company. In the end, your independent agent will be providing you with an unmatched value that you won’t be able to find anywhere else, and you’ll likely save the cost of the commission many times over with better policies.
Lastly, remember that the motivations of your independent agent are to help you — not to help the insurance company they work for. This can change everything when it comes to the policies they show you, and it almost always means you’ll get a better deal.
Let Estrada & Associates Insurance Help You
Estrada & Associates Insurance can help you find the insurance policies you’re looking for. Our experienced and knowledgeable independent agents are working for you every day. Give us a call today or stop into the office to learn more.
Insurance can be confusing at times and everyone's needs are different. If you have questions regarding coverage, pricing, or anything else related to insurance, send us an email or give us a call.
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