To get the best deal on insurance, many people consult an insurance agent or broker. But did you know that there are different kinds of insurance agents and brokers—and the one you choose can make a big difference in the type of service you get and the choices you’re offered?
Here’s The Difference:
Captive Agents And Brokers.
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.
Independent Agents And Brokers.
Independent agents and brokers can offer products from many different insurance companies. It also aids them in better fulfilling your requirements by allowing them to examine various alternatives to discover a policy and rate that is best for you. Insurance premiums differ from firm to firm. Independent agents may build a unique insurance plan utilizing their knowledge and experience.
If you’re ready to contact an independent agent to talk about saving money on car insurance, here are a few things to consider:
Has anything significant happened in your life lately? Insurance rates are influenced by a variety of things, not just the year of a car, make, model, body type and engine size, but where you live, previous insurance experience, type of job or education. If you’ve recently relocated, gotten married, had a birthday or experienced another significant life event happen to you, tell an independent broker or agent about it.
Older cars don’t need the same level of physical damage coverage as newer cars. An independent agent or broker can help you figure out what kind of coverage is best for your car.
Adjusting your deductible could save you money each year, too.
Did you know that some companies offer better rates to those who have comprehensive or collision coverage than to those who only carry liability only? Statistically those who carry only liability only are higher risk, higher risk = higher rates.
Do you have another type of vehicle that also needs coverage? If you have a motorcycle, boat, RV or other “toy,” you might save money by having it covered by the same company that insures your car. Talk to an independent agent or broker about it.
Another plus to working with an independent agent or broker is their ability to offer guidance for all your insurance needs—auto, home, life, business and more. They can customize a package of policies just for you.
To learn more give us a call at 816-254-6100.