Find the right insurance agent can be just as important as finding the right doctor or dentist. Ultimately, you'll put a lot of faith in that person and hope they have your best interests in mind while looking for your financial security. The more you have to protect, the more crucial the decision becomes.
It is important to understand what types of insurance agents you have to choose. In general, there are three main groups:
- agents online or by phone who work directly for the insurance company
- The exclusive agents who usually represent a single company insurance
- independent agents who represent several insurance companies.
I would like to start by saying that I personally sold insurance as an agent in the three groups and can attest that there are good and professional care of each one. Although I recommend choosing an independent agent, each group can have advantages and disadvantages.
Buying insurance online or call center agent can pose several challenges. Although popular for personal insurance, I do not recommend this method for the purchase of insurance companies based on the complexity of the coverage you may need. Unless you feel confident that you understand what coverage you need and how much you should have a cover, you take chances with this method because you will not generally the advice and guidance of an agent insurance. Online centers and calls profess to be fast, easy and cheap and sometimes they can be one or all of these things, but also an insurance agent without a lawyer are you when it comes time to file a claim. Also, if you are not satisfied with your renewal price, you're back to surf the web or by calling around as the process begins again.
The advantage of working with a captive agent is that you have someone to advise you on the needs and coverage concerns. A captive agent can focus primarily on personal insurance for auto, home and life, but could also offer business insurance products. The challenge of this method is traditionally the agent represents only one insurance company. If you are not satisfied with your renewal price or need a type of coverage they do not offer, you are back to square one and looking for an agent. A captive agent will not be able to really shop the market for you every year. As a former captive agent, to meet the renewal price of the concerns that I had to fall on the reduction in coverage as a potential option for my clients. This was not an ideal solution, but I simply had no alternative when the price was an issue. In my experience I have seen many captive agents make the transition to become a free agent because of their frustration of not having more options for their clients.
Independent agents represent several insurance companies and the largest variety of available insurance products and services. While an independent agent usually represents several insurance companies, they are not an employee of any one, and are there to serve your lawyer get you the right coverage at the best value. With an independent, you may benefit not only to find an agent but perhaps several specialized agents in your area of need but working in tandem for you under one agency. These authorized officers may specialize in various areas of expertise in personal lines business groups such as construction, manufacturing, or food service.
I recalled the other day the leading independent agent role play as your lawyer in the case of a claim. I know an agent working on a quote for a new prospective corporate client when the prospect has suffered a loss. This prospect had bought two separate policies from two different companies. The policy related to the loss was purchased on a direct basis. It became clear very quickly that the prospect was in great need of a defender of the claims. They had several questions about the loss and what to do. Direct company tried to set up a time in a week or for adjustment to inspect the loss, but ultimately the insured felt helpless and unsure of what to do in the meantime. The independent agent received a single email from page view "HELP!" They were apologetic for disturbing the independent agent, but there was a list of questions and just need someone to talk to. Although they are not yet a customer, the agent contacted me to discuss the request and issues of perspective had. He then drove to see and tried to explain their coverage and claims to deal in more depth. I am sure that after this experience, this view will soon be a customer of the independent agent. It has strengthened not only the dedication to helping the people I've seen time and again independent agents I work with, but also what a critical role the independent agent acts as your advocate claims at the time of loss .
As I said, there are good, professional and caring people from all groups. However, I would make a recommendation to you for the new year: If you are not currently working with an independent agent, take please the time to reach out to one before your policy expires. I think you will find the experience is well worth your time. With the variety of independent agents available, the right agent is there and ready to serve your lawyer for many years to come.
Have a happy and safe New Year!
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