What Is an Independent Insurance Agent? – Ramsey

everyone needs an expert in their corner. the more complicated life gets, the more we need someone to help us navigate daily tasks. a professional a specialist. an authority. whatever you want to call it, we all need one.

Finding the best insurance coverage is no different. The right professional can easily review all of the insurance coverage options out there and find the one that is the best value and a perfect fit for you.

Reading: What does an independent insurance agent do

These professionals are called independent insurance agents. Let’s review the advantages of working with an independent agent.

  • what is an independent insurance agent?
  • what does an independent insurance agent do?
  • independent agents vs. insurance brokers vs. captive agents
  • the benefits of working with independent agents
  • frequently asked questions
  • An independent insurance agent is someone who sells insurance policies from several different insurance companies instead of just one company. They act as intermediaries between insurance buyers and sellers.

    Independent insurance agents are generally qualified to sell a variety of different types of insurance coverage (auto, home, health, etc.). They are typically self-employed, receive commissions on the policies they sell, and are not considered employees of any specific insurance company.

    Now let’s talk about how independent insurance agents work.

    Because independent agents work with a group of insurance companies, they can offer a lot of coverage options and prices to their clients. Matching clients with the right insurance coverage and price is the most important part of their job.

    first, they consider individual customer needs. they then find policy options that meet those needs. A good independent insurance agent will provide a side-by-side comparison of the price and coverage options you find. Finally, the agent explains all the options so you can choose the best policy.

    Successful independent agents, those who provide excellent service to their clients, strive to stay up-to-date on all the different coverage options and prices available from the insurance companies they represent. Essentially, this means they do the legwork for you, so you don’t have to fill out a bunch of different online applications to get your own quote comparisons.

    even better? Your inbox isn’t inundated with dozens of cheesy sales pitches from different insurance companies.

    Once you purchase your policy, the insurance company pays a commission to the independent agent. Commission rates are often comparable across multiple insurance companies, so independent agents can focus on finding the policy that’s really right for you, not the one that will make them the most money.

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    This is difficult to explain, but it is very important to understand the distinction.

    First, let’s review the difference between independent agents and insurance brokers. The best way to explain the difference is to start with the fact that insurance brokers cannot actually sell you insurance, they are the intermediaries between you and the insurance agents. its purpose is to find the best policy and rates for your situation.

    independent insurance agent

    at ramsey, most of our local endorsed providers (elps) are independent brokers and agents. So from your perspective as a customer, the distinction is basically irrelevant because all of our elps are qualified to find the best coverage at the best price for you and your family.

    So what is the difference between captive and independent insurance agents?

    The main difference is that captive agents can only sell the products of the insurance company they work for; they cannot talk or sell options outside of their company listing.

    on the other hand, independent agents are not tied to a single provider, so they can shop around for the best coverage and price.

    here is a picture showing independent agents vs. captive agents and how they relate to brokers.

    independent insurance agent

    The flexibility that independent agents have to work with multiple companies is the number one reason we are a huge fan of working with independent agents for your insurance needs. It’s a fact of life that the more options you have, the more likely you’ll be able to save money while getting the best coverage.

    wait. there are more benefits you should know about.

    authorized experts

    Insurance can be complicated, but independent agents know what they’re doing. they have passed their state exams and have the license to prove it.

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    They can spend time translating industry terms to help you make smart decisions. they have built their careers by learning to assess their needs and match them with the insurance company that is best equipped to meet those needs.

    personal advisors

    Remember when we mentioned the importance of having someone on your side? this is what independent insurance agents do best. they eat, sleep and breathe safely because they love to help people. they work with you one on one, taking the time to listen and understand your individual needs. they know it’s not just about getting the best price, it’s also about making sure your insurance coverage is honored if you ever have to use it.

    local authorities

    independent agents are your neighbors. We created our ELP program specifically so you can work with an agent who lives in your community. Local independent agents understand the challenges and benefits of living in your area and are just around the corner, ready to help.

    consultants for life

    Good independent agents regularly review their policies to make sure you’re still getting the right coverage at the right price. life comes with many changes, some good and some bad (marriage, childbirth, starting a business, divorce, buying a house, insuring a teen driver, etc.) and independent agents are there to help you adjust to each change.

    Still have questions? we have answers.

    1. How can I know if an agent is independent?

    There are some easy ways to find out.


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