When you’re looking for insurance, you have two major options. You can get insurance from multiple companies on your own or go to an independent, third-party agent or agency. While each of these options may have their own pros and cons, independent insurance agents (or an agency) is usually the best choice.
Independent Insurance Agents Save Money
Independent agents are most frequently chosen because they can save an individual or business money in a variety of ways:
- Getting the best deals. An independent agent is aware of all the deals available on the market and can advise their client on which policies will work best for them. Because the agent works for a third party, they have no reason to promote any company’s services over another. They may also get bundled and discounted deals to save their clients money.
- Establishing the right coverage. Because an independent agent is solely focused on getting their clients the best coverage, they can tell their clients exactly how much coverage they need. Agents aren’t interested in upselling their clients on more coverage, as they are interested not only in acquiring clients but also in being able to retain them. Customers happy with their insurance costs are additionally more likely to refer new business.
- Avoiding costly mistakes. Because an independent agent is an expert in insurance, they are going to be able to prevent many costly mistakes. Individuals managing their own insurance could accidentally let policies lapse, which could lead to a lack of coverage if an incident occurs. Individuals working with companies may not realize certain things are or aren’t covered, as the company will not have a full picture of their insurance needs.
- Getting the appropriate discounts. Senior, student, safe driver, and new home owner discounts are all available for different types of insurance policy — but these discounts may not always be immediately obvious. Independent agents know which discounts they should ask for and are able to compare different policies with these discounts already in mind.
- Revising policies as needed. An insurance agent that works independently will also periodically analyze the insurance needs of their client to make sure they are still getting the best possible deals. Though an individual can do this, they are often more likely to simply renew the old contracts that they already have.
Independent Insurance Agents Get Better Coverage
An independent agent will assess a customer’s insurance needs from top to bottom to make sure that they have the best in coverage. By negotiating with companies (and through their own expertise in the market) they don’t just save their customers money — they also get them better policies. Insurance agents have experience in the market and they know about all of the different types of coverage available. An individual attempting to get coverage through multiple companies may acquire redundant coverage or may not have enough coverage overall.
Independent Insurance Agents Take Care of Everything
The relationship that is built with an independent agent can be incredibly important. An independent agent will understand all of your insurance needs and will consequently be able to make sure that you don’t have any insurance gaps and that your coverage is neither too little or too excessive. Because they are your first point of contact for any insurance matters, you’ll never need to wonder about who you need to contact with questions or to initiate a claim. As products and services offered by your insurance companies change, you’ll still continue working with your agent — and they will be able to offer you a continuity of customer service that you wouldn’t have if you were regularly switching between companies.
An independent agent isn’t just acting as a broker; they also can act as an advocate for their client when claims arise and can walk their clients through situations with their insurance policies. Altogether this makes the entire process of dealing with insurance much easier, not just identifying a policy and purchasing it.
Insurance can be exceedingly complex and it’s important to have someone on your side. Independent insurance agents work as partner, finding you the best coverage at the best prices and making sure that you are always cared for. Though you can try to put together your own insurance packages, you will almost universally spend less time and money working through a third party agent/agency.