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 Posted: Mon Mar 08, 2010 9:55 am Post subject: Insurance agents - Are independent insurance agents better? |
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What are the key points I should consider while choosing my insurance agent? Is it true that the independent insurance has more advantages than the captive one?
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PGuser
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| Posted: Tue Mar 09, 2010 7:50 am Post subject: |
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It's always important that you trust your insurance agent. Some of us don't care about the coverage source or the medium. But, just think of a time when we'd need to file an urgent claim.
What shall we do if our agent fails to reciprocate in time? In order to choose the right insurance agent, we should know more about the agents who're operating within our locality. |
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steven
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| Posted: Tue Mar 09, 2010 7:27 pm Post subject: |
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A captive agent has the disadvantage of working for one company. If that company is the best company and doesn't sell through independent brokers, a captive agent can be the best for you.
However, you will have more choices when working with a broker who is independent.
Some brokers will work with all of the companies that are available in their area.
All things being equal, an independent broker is better. However, an independent broker can choose to place your policy with the company that gives him or her the best commission rate as opposed to giving you the best policy.
You should do some research on the company your agent recommends to you whether you choose to work with a captive agent or an independent broker.
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Alston
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| Posted: Wed Mar 10, 2010 2:11 am Post subject: |
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| Be careful and know that simply being independent does not guarantee a better agent. Some independent agents are independent for reasons they'd rather not discuss. Find someone you can develop a good relationship with, that counts more than the independent/captive status of your agent. |
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BNTRS
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| Posted: Wed Mar 10, 2010 9:36 am Post subject: |
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| Quote: | | You should do some research on the company your agent recommends to you whether you choose to work with a captive agent or an independent broker. |
It's natural that you'll go through the different products that fall within your budget. You should compare the policy features offered by different carriers for a similar price. On the other hand, you should keep an eye on the consumer reviews regarding your chosen products.
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Juanita
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| Posted: Wed Mar 10, 2010 4:50 pm Post subject: |
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I certainly agree with the statements posted. I would consider adding one more that I feel is important. I would not hesitate to ask for references from a prospective agent. In the form of client testimonials, letters, etc that will confirm the agents well respected, trusted reputation among existing clients.
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DanWilliams
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| Posted: Thu Mar 11, 2010 8:40 am Post subject: |
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Whenever I'll go for an independent agent, I'll make sure that they have the required license and experience in selling their products. At the same time, I'll also check if they have a sound customer network. If they've worked successfully with others, then they might do something good for me as well.
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sil
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| Posted: Fri Mar 12, 2010 5:55 am Post subject: |
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Another crucial area that we'd need to consider is their assistance in settling our claims. If they don't have the ability to settle out claims, they're of no use to us.
Apart from a vast network of clients, they should be able to show us through some good product options. This will actually help us to compare and see what's best for our needs. |
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roddick
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| Posted: Sat Mar 13, 2010 4:04 am Post subject: |
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| Quote: | | Apart from a vast network of clients, they should be able to show us through some good product options. |
Rod, it's not just about showing a couple of good options. Our agent has to meet our needs. He has to offer the best coverage both in terms of price and services. The best of agents would keep a tag of our insurance needs that may change from time to time. |
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RupertWBradson
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