Most of the time, those shopping for insurance look to the Internet for the best rates and coverage. But not so fast … there may be a better way to purchase insurance — one that offers better rates, fuller coverage, and an entirely easier shopping experience.
Let’s dive in!
The Better Way to Purchase Insurance: From an Agent
Buying “direct” from an insurance company like Esurance or Geico is a common practice today. Right on the spot, you can get online, receive quotes from various insurance companies, and choose your plan.
Many people who go this route think they’re working with an agent. Someone, somewhere on the other end, is setting up their plan for them and making the necessary arrangements. In fact, this isn’t the case. When you buy direct from an insurance company, no one is looking after your policy. You, essentially, are your own agent.
Fifty years ago, this wasn’t how anyone purchased insurance. In fact, you couldn’t buy direct from an insurance company because it wasn’t allowed. Instead, you worked with an agent. An insurance agent can do important things for you that you can’t get when you buy direct. Most notably, an agent can help you locate the best policy and do all the legwork for you.
Professional agents are licensed and local. You can meet with them in their office, face to face. They have experience getting the best rates on various types of insurance, and insurance is what they do for a living, full-time. Instead of going it alone on the Internet, an insurance agent is your personal advocate. Often, you can go to an agent for all of your insurance policy needs: Health, life, auto, home, and more.
There Are 2 Types of Agents
Here’s where things get a little trickier. There are actually two different types of insurance agents: Independent agents and captive agents.
Independent Agents
Independent agents work for many different insurance companies at once. For example, you might walk into an independent agent’s office, ask about auto insurance, and be able to get quotes from 3 or 4 different auto insurance companies. Your independent agent shouldn’t be concerned whether you choose to work with insurance company A or insurance company B. They want to find you the best rates and coverage.
Captive Agents
Unlike independent agents, captive agents work for one insurance company and one insurance company alone. In this way, if you walked into a captive agent’s office and asked for quotes on auto insurance, you’d probably get at least a few different coverage options, but you’d get only one quote from one insurance company.
Why Independent Agents Are the Way to Go
By now, you can probably already see why independent agents are your best option for great coverage, limits, and rates. Independent agents have your best interests at heart. They do earn a commission (from the insurance company you end up buying from), but this added cost will work itself out because you’ll be getting a better value from an independent agent every time.
Independent agents offer a one-stop-shop for all types of insurance. And their flexibility provides you with choice and options. And you can’t beat that when it comes to insurance.
How do you buy insurance? If it’s through an independent agent, be sure to share this information with friends and family who can also benefit from their services.
If you’re currently buying insurance direct or from a captive agent, consider switching to an independent agent. Our agents at Mooney Insurance can help you nail down your specific insurance needs and find affordable plans with great coverage. Call us today to find out more.
