Where to Buy Insurance in 2012
It’s a new year and many people are asking the question: How do I get the best insurance coverage for my car, home, business etc. at the best price?
Insurance consumers have 2 ways to obtain their coverage; either from a Direct Writer or Independent Agent?
First, you need to know the difference in order to choose Direct Writer or Independent Agent.
What is a Direct Writer?
A direct writer is an insurance company that doesn’t have representatives to write their business. Their employees are the only ones who write and service your policy. Progressive Insurance and Geico Insurance, for example, are direct writers. As a policy holder, you call these companies directly and it is their employees who service your policies. Unlike Independent Agents who represent multiple companies, the direct writer can only place your business within their own company. This is sort of like an ice cream shop selling only vanilla ice cream.
Why use an Independent agent?
Most independent agents represent multiple companies and will shop your policy to find the best coverage at the best premium. If there is a problem between you, the policy holder, and the insurance company, the independent agent will represent you. Independent agents can review your policies prior to renewal and can remarket your policies with other companies to reflect better pricing and coverage. Independent agents also can assist, support and advise you during a claim. Many direct companies have claim adjusters that are salaried employees and are therefore biased. Independent agents form a relationship with their clients and policyholders are usually assigned to one customer service representative or have a staff to personally assist you. There are no fees or additional policy costs to using an independent agent.
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