In recent times, you can be able to buy insurance through a professional who acts like a middleperson between you and your insurance company. This is the insurance agent who will advise you and help you find a coverage that is right for you and meets all your needs. Most insurance firms provide other means of buying a policy for example by calling a toll free line or buying it online. If you understand the nooks of insurance you can be able to buy a policy by yourself for your simple insurance needs. Otherwise, it is advisable to consult an insurance agent for professional guidance and to ensure you buy the policy safely especially for life, long term care or disability insurance.
There are two different kinds of agents, that is, captive and independent agents. Captive agents offer products specific to one insurance firm. Examples of companies that use these insurance agents include Allstate, State Farm among others. Independent insurance agents offer a wider range of options since they are used by other companies to sell their products.
When buying a policy through an insurance agent, one has to include a commission ranging from 7-15%of the total premium payment. This is usually worth it since you can find the right insurance coverage that best suits your needs.
A good way to look for a good insurance agent is through personal recommendations and testimonials. People tend to refer insurance agents with whom they have had a positive experience with. This would include finding out about the quality of their customer service, how responsive they are as well as how helpful they are when filing a personal claim. You could get to see the testimonials on social media pages such as Yelp, LinkedIn, and Facebook instead of relying solely on ads or the yellow pages. The best way to judge your insurance agent is having a face to face with them.
Insurance agents generally specialize in either commercial or personal insurance but not both. You should find an insurance agent who has experience in his field and the easiest way to validate their company is by looking it up in your state regulator’s website. Every state has a department that monitors insurance firms and agents running business within the state. Your state insurance regulator can help you check an agent’s license status as well as inquire about any legal issues he may have.
A good insurance agent should have enough experience and expertise to get you the best coverage that can cater to all your needs at a minimum cost at maximum protection of your investment. Your agent should be able to advise you to suit the coverage you wish to buy to discounts or credits that insurance companies offer for packaged policies.
It is important to ask questions and check the license status of your insurance agent to ensure you protect your investment well. You should trust your instincts and get to know your agent to avoid getting conned and losing lots of money.