An independent insurance agency is more than just another cookie-cutter coverage provider. They offer a unique set of opportunities to their customers that could be missed out on if you choose to work with agents representing only one company. These captive insurance agents can have competitive rates for personal, business, and life insurance, independent insurance agents provide their clients with policy package flexibility, more personalized customer service, and the ability to shop your insurance for you. This ensures that you get the best coverage for the best price.
Many single-company insurance providers have their own exclusive agents that sell for only that insurance company and their primary responsibility is to their employer, not necessarily to the client. This can create a conflict of interests that adversely affects the customer in the event of a dispute.
Multi-company independent agents are licensed professionals who must understand all of the offerings of the insurance carriers that they represent. This means that they will be able to find a specific policy that fits your insurance needs best. They do not work for the company, they work for you which keeps your best interest and their best interest aligned.
What does this policy personalization get you?
Certain companies will offer programs that extend coverage for little to no additional cost. Others may offer comprehensive loss control programs free to the customer. The agent can look at your individual situation and give you a policy specifically for your needs, helping you weigh the coverage and additional incentives for each policy option.
The relationship between the customer, agency, and carrier holds all parties accountable to the customer. If a carrier is not providing the best service and coverage, the agent can move the business to another provider to correct the situation. The agent’s top goal is to keep the customer happy and place them with a reputable and responsive company. A single-company agent does not have the luxury of moving clients to different companies to better suit their needs.
For business owners especially, the simplicity of having all of your lines of business with one company makes paying and keeping up with your insurance much easier. It allows the agent to look at packaging all of your policies to get increased discounts that you may miss out on if you were to design your own insurance policy.
When you work with an independent agent, you are accessing years of knowledge of the insurance industry which opens the door for policy coverage extensions, loss control programs, and discounts that you may not be aware of. While the single-company route may be the right one for some people, a reputable independent agent has the flexibility shop your policy for you and to change as your needs evolve.