When you’re in the market for insurance, whether it’s home, auto, or commercial insurance, you typically work with an agent who can help you find a policy that meets your needs. But, most people don’t know that there are two different kinds of insurance agents—captive and independent insurance agents.
The Basic Idea
Captive agents are only allowed to sell policies through one insurance company
Independent agents can quote multiple companies to find the best policy and price
They only have specific knowledge about the few policies and products available through their company.
Independent agents have a broader and more comprehensive knowledge about insurance trends, types of coverage, and best practices.
If your insurance rate goes up…
All they can do is lower your premium and lower your coverage limits, leaving you exposed.
Your agent can “re-market” for the same coverage at a better price with a different insurance company.
Changing insurance companies…
If you decide to change insurance companies, you will lose your existing agent, and have to contact multiple companies for quotes.
If you decide to change to a different insurance company, you will keep your existing agent relationship, and they will shop around the different insurance companies to find you the best options.
In conclusion, there are so many reasons to go with an independent agent for your insurance needs. Please reach out to your Hertvik Insurance agent for more information.