27 May

Making Sure You Have the Right Insurance Agents on Your Side

There are a lot of details involved in choosing insurance. If you’ve been looking around at all the different insurance options out there, then you probably already know this. There are so many different options and variables to choose between it can be hard to know which policies are going to be right for you. And your policy requirements will shift between the different assets you insure. For instance, your house will have different assets to protect with property insurance than your business will. If all of this seems confusing to you, don’t despair. Insurance agents are available to help you for a reason; however, you need to be sure you have the right insurance agent working for you, too.

What are insurance agents?

Insurance agents are individuals who generally work for an insurance agency and sell insurance policies to clients. Depending on the type of agency they work for (independent, etc.), the agent may have more flexibility in finding you top quality insurance coverage at reasonable and competitive premiums. But just because they work for prestigious agencies doesn’t mean the first insurance agent you get will be the right one for you.

Did you know that there are different types of insurance agents?

Just like there are many different coverage options out there for all of your insurance needs, so too are there different types of insurance agents. Here’s a quick breakdown that can help you narrow down your choices by finding the qualities that best suit you:

1) Captive agent.

Captive insurance agents work for and represent their own insurance companies. They receive a commission from the insurance company for the steps they take to secure your policy, but they work exclusively for that one company, so they are a little more limited when it comes to their selection of policies and pricing options.

2) Insurance broker.

Brokers are insurance agents that are specifically dedicated to representing you or your company. They will search the local insurance market for you to find you the maximum coverage at the best price; however, since insurance brokers represent you rather than a specific insurance company, they generally charge a fee for their services.

3) Independent agent.

Like captive agents, independent insurance agents represent and are commissioned by a specific insurance company (so there probably won’t be any extra fees). However, independent agencies carry contracts with multiple insurance companies, which means they can choose between those companies to select the best insurance coverage at the most competitive pricing.

How do you know which to choose?

Choosing one of the right insurance agents is as important as choosing the right insurance policy, but here are a few things that can help you narrow down the search so you can find coverage for all of your assets much quicker.

Ask questions

First Before you choose from the many insurance agents that are eager to help you find the coverage you are looking for, make sure you ask some questions. Are they certified? What areas of insurance have they dealt in before? Have they provided coverage for any individuals or businesses with similar circumstances to your own? Experience is important when choosing from the many insurance agents out there. If you are confused about what policy will work best for your specific circumstances, you don’t just want someone who knows the policy; you want someone who can understand and help you identify those circumstances, too. No matter where you live, you are going to have options when it comes to choosing from your insurance agents; so make sure you find one that is knowledgeable and experienced with your needs. If you run a trucking company, you should look for an insurance agent that has experience and understands the risk factors, liabilities and assets that are associated with trucking. You wouldn’t want to hire an insurance agent who has abundant experience in office insurance—the coverage needs would be entirely different. If you hire insurance agents who don’t know what to look for, there’s a good chance something important will get missed, which could end up costing you more money and could even get you and your business into trouble.

So how can you be sure the agent has the right experience?

Don’t be afraid to ask what areas your insurance agents specialize in, or what other types of companies they have provided coverage for. You can even ask for references, and you can consult with the Better Business Bureau to gain a complete understanding of whatever agency you are considering. About the Author: If you are looking for insurance agents in Colorado that have the experience and knowhow to help you with your unique insurance needs, come to DCI-INS. We know the importance of experience when it comes to selecting insurance policies. We have agents across Colorado, so use our online agent locator to find the nearest agent who is dedicated to helping you today.

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