Independent insurance agents represent a number of insurance companies and sell a variety of insurance and financial products. These policies can include property insurance, auto insurance, life insurance, homeowner insurance, and many others. The opposite of an independent insurance agent is a “captive agent” who is limited to selling from one provider which employs them. An independent agent will gather information from different agencies to help the purchaser choose the best option that appropriately meets the client’s needs.
What does an Independent Insurance Agent Do?
These agents can provide you with quick quotes of multiple insurance carriers that will find the best rate for you and your family. They are highly skilled and knowledgeable about the complexities of the insurance market and insurance law. They are not just selling you products, but they also act as your legal representative to the insurance provider. They must be licensed by the state and has the fiduciary responsibility to advocate on your behalf. Legally, an agent must put your interests before the business and their own.
Why an Independent Insurance Agent Is the Right Option
Independent agents have the ability to be great money and time savers for their clients. You only have to provide your information one time and they will be proactive when it comes to changes in your insurance rate—they will be able to get a head start. If they see one of their company’s rates increasing, they can start looking for a better deal before the increase takes place. Since they can compare multiple policies and premiums, they have an advantage over a captive agent who would struggle with this aspect.
One Agency, Multiple Carriers
No need to keep switching insurance agents. The ability to retain the same agent even if you switch carriers is another perk. You’ll be able to maintain a strong relationship with your agent even if your rate creeps up because they will always help you find the best possible rate. Captive agents would only have the option to provide you with their rates, no matter how steep the increase would be.
Independent Insurance Agents are Local Agents
Independent insurance agents are like your neighbors— they share a common interest in the community you reside in. They also understand the benefits and challenges you deal with living in your location. The agencies they work for are involved in your community by sponsoring local fundraisers and nonprofit agencies, youth/adult sports teams, and support small businesses in the area. These agents care about the members of their community.
Independent insurance agents aren’t just concerned about making a sale, they are your consultants for all stages in your life, from your first car to estate planning. At TJ Woods Insurance, we understand the importance of having a knowledgeable, trustworthy, and qualified agent to act as your advocate and aid you through all the changes in your life. Our team of experts would be pleased to help you find the right coverage for you and your family. Contact us today!
