Why Use an Independent Insurance Agent: Benefits, Pros and Cons
Written by Daniel Ray, Life Insurance Expert |
✅
Fact Checked by
Lisamarie Monaco |
Editorial Disclosure
If you are in the market for insurance, you may be wondering whether to use an independent insurance agent or go directly to an insurance company. In this article, we’ll take a closer look at independent insurance agents and the benefits of using them for your insurance needs.
Easy Article Navigation
- What is an Independent Insurance Agent?
- Benefits of Using an Independent Insurance Agent
- Pros and Cons of Using an Independent Insurance Agent
- Local Insurance Agent vs. Online Insurance Agent
- Access to Multiple Insurance Carriers
- Compare Insurance Rates
- Risk Management
- Personalized Insurance Coverage
- Frequently Asked Questions
What is an Independent Insurance Agent?
An independent insurance agent is a professional who represents multiple insurance companies, rather than just one.
This allows them to offer a variety of insurance options and find the best coverage for their clients.
For example, if you have a health issue like hepatitis or any other issues where you have been declined, then they may have alternatives like a modified policy.
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Benefits of Using an Independent Insurance Agent
There are many benefits to using an independent insurance agent, including:
Personalized Insurance Coverage
Independent insurance agents work with their clients to assess their insurance needs and find policies that meet those needs. They can provide personalized advice and coverage options based on the client’s unique situation.
Local/National Insurance Agent
Independent insurance agents are often local or national, meaning they have a better understanding of the insurance needs of their demographic.
They can provide personalized service and support to their clients. A national independent agent can offer a client in Texas coverage, then the very next call, provide coverage in Anchorage, Alaska.
Access to Multiple Insurance Carriers
Independent insurance agents represent multiple insurance carriers, which means they can offer a wider range of insurance options than a single insurance company.
For example, if you have a client that has pulmonary disorders, an independent agent would find the carrier that will be best.
Compare Insurance Rates
Independent insurance agents can compare rates across multiple insurance carriers, helping clients find the best coverage at the most affordable price.
Risk Management
Independent insurance agents can provide risk management services to their clients, helping them identify potential risks and providing advice on how to mitigate those risks.
For example, if a client is looking for life insurance with sleep apnea, an independent agent would know exactly the best carrier to go with.
Pros and Cons of Using an Independent Insurance Agent
Pros
- Personalized service
- Access to multiple insurance carriers
- National expertise,
- Comparison shopping
- Knowledge about specific insurance products or carriers
- Direct access to carrier underwriting, which can affect the application process
Cons
- Not Face to Face
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Local Insurance Agent vs. Online Insurance Agent
Choosing between a local insurance agent and an online insurance agent will depend on your personal preferences and needs.
Local insurance agents can provide personalized service and expertise, while online insurance agents may offer more convenience and speed.
However, if the online agent is a National Independent Agent like an InsuranceForBurial.com agent, then they are licensed in every state.
This is the highest-level independent agent you can come across. There are NO limitations to an NIA.
Access to Multiple Insurance Carriers
Independent insurance agents represent multiple insurance carriers, which means they can offer a wider range of insurance options than a single insurance company.
Compare Insurance Rates
Independent insurance agents can compare rates across multiple insurance carriers, helping clients find the best coverage at the most affordable price.
Risk Management
Independent insurance agents can provide risk management services to their clients, helping them identify potential risks and providing advice on how to mitigate those risks.
Personalized Insurance Coverage
Independent insurance agents work with their clients to assess their insurance needs and find policies that meet those needs.
They can provide personalized advice and coverage options based on the client’s unique situation.
Frequently Asked Questions
What is an independent insurance agent?
An independent insurance agent is a professional who represents multiple insurance companies, rather than just one.
This allows them to offer a variety of insurance options and find the best coverage for
their clients.
What are the benefits of using an independent insurance agent?
Some of the benefits of using an independent insurance agent include personalized service, access to multiple insurance carriers, local expertise, and comparison shopping.
What are the cons of using an independent insurance agent?
Some of the cons of using an independent insurance agent include limited knowledge about specific insurance products or carriers and limited access to carrier underwriting.
How do I choose between a local insurance agent and an online insurance agent?
Choosing between a local insurance agent and an online insurance agent will depend on your personal preferences and needs.
Local insurance agents can provide personalized service and expertise, while online insurance agents may offer more convenience and speed.
How can an independent insurance agent help me with risk management?
Independent insurance agents can provide risk management services to their clients, helping them identify potential risks and providing advice on how to mitigate those risks.
What types of insurance can I get from an independent insurance agent?
Independent insurance agents can provide coverage for a variety of insurance types, including property and casualty insurance, life insurance, health insurance, and more.
Conclusion
Using an independent insurance agent can offer many benefits, including personalized service, access to multiple insurance carriers, and risk management services.
When choosing an insurance agent, it’s important to consider your individual needs and preferences, as well as the agent’s expertise and track record.
By working with an independent insurance agent, you can find the right coverage to protect yourself, your family, and your assets.
