If you've ever bought an insurance policy, you may already know just how many options are out there. Whether you're insuring your home, your car, or something else, navigating through all your choices can be time-consuming at best and confusing and frustrating at worst. When you have an independent insurance agent to help you find the right policy, the process can be much smoother and simpler.
Independent insurance agents work for you to help get you matched to the ideal coverage for whatever it is you need to insure. These agents can browse coverage options and compare prices from several different insurance companies for you, then present you with the best results.
Next time you need coverage, consider working with an independent insurance agent for a more efficient, personalized, and streamlined process. Until then, here's a closer look at what independent insurance agents are and just how they help customers.
Independent Insurance Agents:
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Work for and represent you, not the insurance company
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Are there to help throughout the life of your policy
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Can file claims for you directly
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Are paid by the carrier, not by you
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Don’t impact your policy’s premium rates
The Difference Between Independent Insurance Agents and Captive Agents
Unlike captive insurance agents, independent insurance agents represent and work for the customer, not a single insurance company. They have access to policies from multiple insurance carriers.
Because of this, an independent insurance agent can compare many different options for you in terms of the coverage offered, each carrier's reputation, and the overall cost of each policy. An independent insurance agent can factor in policy premiums and deductibles to determine which plan could save you the most money while still delivering the coverage you need.
Captive agents have far fewer choices. Since captive agents typically have contracts with one insurance company, they're contractually obligated to sell policies from only that insurer. This means a captive agent may not be able to find a policy that best meets your needs or budget.
Independent Insurance Agents Are There Through the Life of Your Policy
Another benefit of independent insurance agents is that they don't just help you while you're shopping for coverage. Throughout the life of your policy, your independent agent will be there for you to assist with questions and claims. If your coverage needs to change, your independent insurance agent can help you adjust your existing policy or switch to another one that better suits you.
Independent Insurance Agents Can File Claims for You
If you've ever had to file a claim, you may know that the process can be stressful after what was likely already a stressful event. When you work with an independent insurance agent, they can actually handle much of the claims process for you, starting with contacting your carrier directly to file the claim. So if you've experienced an accident, lawsuit, property damage, or another covered incident, start by gathering all the information necessary and present it to your independent insurance agent.
Once they have the information they need about your claim, your independent agent can contact your insurer for you. Then, your agent will provide you with a claim number and an ETA for every step of the insurance claims process. They'll answer any questions you may have about when to expect reimbursement and how much of the damage will be covered by your insurance company.
How Independent Insurance Agents Get Paid
Fortunately for customers, independent insurance agents typically get paid by the insurance company, not by you. Most independent insurance agents earn commissions from insurers when they sell a policy rather than charging the consumer.
However, there are certain instances in which an independent agent collects fees from the customer. In such a case, the agent would disclose any fees to the customer upfront, so they'd know exactly how much the services would cost if they agreed to work with them. There aren't any hidden charges or fees when you hire an independent insurance agent.
Working with an Independent Insurance Agent Won't Affect Your Policy's Rate
Before you decide to work with an independent insurance agent, you might be concerned that your policy's premium would be higher to compensate for their services. Fortunately, this isn't the case.
Independent agents are paid by the insurance company that underwrites the policy they sold you. While your agent might earn a percentage of their income from your policy's premium for the first year of your coverage and then residual income that decreases throughout the life of the policy, this doesn't affect the cost of your premiums.
How Do I Get Matched to the Right Independent Insurance Agent?
Getting matched to the right agent is easy. When you visit InsuredBetter.com, you'll answer a few quick questions about your insurance needs and location, and our agent database will pair you with the best options for your specific situation.
Based on your expert matches, the best independent insurance agent for the job will contact you to help. From there, your agent can present you with multiple options for the coverage you need from many different top-rated insurance companies.
