Health and The Insurance

Posts Tagged ‘Competitive Insurance Rate’

People say you need a quote from at least 3 different insurance companies to make sure you find a competitive rate. One independent agent can easily do this in most cases. For example, our agency represents over 20 different personal and commercial insurance companies. There’s a relatively unknown market in the insurance industry that consumers need to know about. This is a market where a single agent can offer you multiple choices from multiple companies. This is the independent insurance agency market. When you have an independent agent (IA) who you know and trust, you shouldn’t have to find a new agent again. As an IA you have the ability to ‘shop’ a customer with numerous insurance companies, finding them the best rate and coverage, so they don’t have to.

Depending on the size of the agency you are dealing with, they may represent over 20 different companies. Why have so few people heard of this market? Independent agencies have actually been around longer than the captive market (i.e. Farmers, Allstate, etc), and typically have been known to write the majority of commercial insurance or online cash advance. Captives have taken a larger percentage of the personal lines (home, auto, etc.) market, even though an IA can generally offer them comparable, if not better, coverage. This is due to the captive companies having millions of dollars to put into advertising to draw in the consumer.