Your Independent Insurance Agency Offers Perks You Will Appreciate

In this fast-paced society, it’s unlikely you have time to run around town or even on the internet to track down and compare quotes for your home, auto, and other insurance needs. Wouldn’t it be convenient if you could talk to one person who could do all that research for you?

An independent insurance agent does exactly that. But saving you time and effort is just one of the many perks you may come to appreciate about an independent insurance agency.

What Is an Independent Insurance Agency?

Independent insurance agents in Texas and Kansas don’t work for a single insurance company. These agents typically work for themselves. They are licensed and often have contracts with multiple insurance companies. 

Those contracts say how the independent agent must act to protect your best interests and explain the commission an agent is paid from the insurance companies. 

Perks You Will Appreciate

Being separate from any singular insurance company gives independent insurance agents several advantages that work in your favor.

Personalized Customer Service

Independent insurance agents are motivated to earn and keep your business. They will take the time to: 

• Understand your insurance needs

• Explain insurance products, coverages, and rates

• Answer your questions

• Help file claims

Your agent also works to resolve any issues you might have related to your coverage.

Knowledge and Expertise

An independent agent must learn about many insurance companies, products, and coverages. This means that they are knowledgeable, licensed professionals who can find insurance that serves you best.

Based in Your Community

Every community is different, which has an impact on your insurance needs. An independent insurance agency is based in your local community, giving the agents a better understanding of how to serve your needs.

One-Stop Shop

Because independent agents have contracts with multiple insurers, you can talk to one agent and share both your needs and information at once. The agent will do all the legwork for you, comparing coverages and rates to present choices that align with your goals. 

This saves you significant time and effort. Also, an independent agent can help you find insurance for your home, life, auto, and more in one stop.

A Lifelong Consultant

If you have questions or need help filing a claim, an agent in an independent insurance agency is your advocate and can become a trusted advisor. Your insurance needs may change over the years, so you may switch insurance carriers. But your independent insurance agent, who knows you and has helped guide you, can stay with you.

Duty to Put Your Best Interest First

Independent insurance agents earn a commission — generally between 10% and 25% — for selling products from insurance companies. Keep in mind that the law binds independent insurance agents to act in your best interests. They will present insurance that can cover you and your family against risks, not just products that make them the most money.

With access to large and small insurers and their products, independent insurance agents can provide options to help you get the most for your money — which may be the most important perk of all.

An Independent Insurance Serves You

An independent insurance agency works for you, not the insurance provider. When you choose an independent agent, you partner with a professional whose goal is to get to know you and provide the best insurance that works for you and your family — at the best price.

How Is an Independent Insurance Agency Going to Find Me a Better Deal?

If you’re like many people seeking a new policy, your first thought is to go to a big insurance company. After all, the bigger companies will give you the best deal, right?

Believe it or not, the big insurance companies usually aren’t the ones finding the best deals for their customers. In the majority of cases, it’s actually an independent insurance agency that will be able to get you the best savings. Here’s why that’s possible.

Independent Insurance Agents Work for You — Not the Insurance Company

If you go through a particular insurance company, you work with what’s known as a “captive” insurance agent. This means that the agent works for the insurance company. They’ll still listen to your needs and help you find a policy that meets them, but their employer doesn’t permit them to compare rates across multiple insurers.

On the other hand, if your agent works with an independent insurance agency, their top priority is finding you the best coverage at the best possible rate. Because they can get you quotes from multiple insurance agencies, they have a much better likelihood of finding you superior coverage for a great rate.

You Get All the Coverage You Need — and None That You Don’t

Captive agents have to strike a balance between your needs and the needs of the company they work for. Their primary goal is to sell you the insurance company’s products, so they may convince you to pay for coverage you don’t actually need.

Sometimes, that extra coverage doesn’t seem like much per month, but it adds up over time. Agents who work with an independent insurance agency understand the need to keep costs down without sacrificing coverage, so they’ll make sure you aren’t stuck paying for anything unnecessary.

Independent Agents Understand Location-Specific Needs

Your exact insurance needs depend on where you live. Typically, an independent insurance agency operates in a limited geographical area, but major agencies are usually nationwide.

Here’s why that matters. If you’re in a flood-prone area, an independent insurance agent will understand that you need to make flood coverage a priority — possibly above other perils like fires or tornadoes. If you work with a nationwide agency, the agent you work with might not even know that there’s a significant flood risk where you live.

You Get Personalized Service With an Independent Insurance Agency

More often than not, major insurance companies prioritize speed. Buying a policy can be as simple as making a few clicks. That might seem appealing, but many people don’t understand potential gaps in coverage and the impact they can have down the line. 

An independent agent can speak with you over the phone or even meet face-to-face to help you identify unique coverage gaps and how to address them.

When You Want the Best Coverage at the Best Price, an Independent Insurance Agency Is Your Best Bet

The right insurance policy often means the difference between adequate coverage and financial disaster. Buying a policy isn’t a process you should rush — and it also isn’t a process you should enter without the help of someone who is working in your best interests. 

When you develop a relationship with a qualified independent insurance agent, you’ll get the benefit of great rates, personalized coverage, and a knowledgeable insurance advisor.

What Are the Leading Coverages Issued Under Commercial Insurance?

If you own a business — big, small, or even home-based — it’s important that you purchase commercial insurance to help protect your company against different risks and financial loss.

Coverages offered under commercial insurance may help protect your business and its assets against lawsuits, fire, theft, natural disasters, auto accidents, and more. Take a closer look at how this insurance works and what coverages are typically issued under it.

How Commercial Insurance Works

From business to business, coverage varies, but a few key considerations when putting together your commercial insurance policy include:

• What your business does

• Your location

• Whether you own or rent

• Whether clients visit your site

• Whether you keep cash on hand

Costs for commercial insurance vary with the types of coverage needed by different businesses. Key factors influencing costs are the industry you’re in, where you operate, the number of employees you have, and whether you’ve filed claims before.

Just like any other insurance, you can pay a premium monthly or annually, higher deductibles come with lower premiums, and higher coverage limits boost premiums.

Coverages Issued Under Commercial Insurance

There are many types of commercial insurance available, and while coverages vary, here are some leading coverages issued under commercial insurance.

Commercial General Liability

Commercial insurance coverage varies, but all businesses need commercial general liability insurance. This insurance can cover someone who doesn’t work for you getting injured or having their property damaged by your business operations. The insurance can help pay medical costs and legal fees.

Commercial Property Insurance

No matter where your business is located, even in your house or apartment, you can buy commercial property insurance to help cover your: 

• Building

• Signage

• Furniture

• Equipment

• Inventory

This commercial insurance may help repair or replace your damaged property.

If you rent your workspace, depending on the size of the property, a landlord may require you to carry commercial property insurance.

Commercial Auto Insurance

If your business owns and operates vehicles for company purposes, you may be required by law to buy commercial auto insurance. This insurance may cover injuries or property damage caused by you or your employees while you’re driving.

A commercial auto insurance policy also might cover medical expenses for you, your employees, or passengers in a company vehicle, as well as offer comprehensive coverage for theft, collision coverage, and uninsured and underinsured coverage.

Workers’ Compensation Insurance

Except for Texas, each state in the United States requires some level of workers’ compensation insurance. Often thought of as insurance to pay medical expenses for employees injured on the job or as a result of their job, workers’ comp also helps protect businesses. 

Once an employee’s claim is accepted, the employee waives the right to sue your company. It’s another level of insurance all businesses should purchase to help protect themselves from crushing financial loss.

Commercial Crime Insurance

While commercial property insurance covers many types of losses, it doesn’t cover losses from crime, such as:

• Burglary

• Employee dishonesty

• Forgery

• Fraud

• Theft 

You have to buy commercial crime insurance to help safeguard your business against these losses.

Getting the Commercial Insurance You Need

Every business is different, even those within the same industry. Survey your company, and take factors like your location and whether clients visit your building into account before purchasing commercial insurance. Doing so and working closely with your insurance agent can help you get the insurance protection you need for your business.

How Is an Independent Insurance Agent Better Than a Captive Agent?

Commercials for large insurance companies are a common sight. But deciding which insurance is right for your family can feel daunting, especially with the safety and future of your family on the line. Understanding how certain insurance options differ can be a great place to start.

For example, many people aren’t familiar with the concept of an independent insurance agent vs. a captive agent. What is the difference between these two types of insurance agents exactly, and is one a better option than the other? Here is why an independent insurance agent can be a better option than a captive agent.

Independent Agent vs. Captive Agent

An independent insurance agent and a captive insurance agent differ in the number of insurance products they offer, as well as the variety of insurance products. Both types of agents will work to find the insurance that fits your needs, but the similarities end there.

An independent agent works in an independent insurance agency that represents more than one insurance company. This means that the independent insurance agent can present you with a range of options for both products and prices.

By working in an independent insurance agency, the agent also isn’t constrained by corporate policies and quotas that might be found at single-insurer companies. As a result, an independent insurance agent may offer more personalized advice and service.

Unlike the independent insurance agent, the captive agent works for a single insurance company and can only sell that company’s products. Typically, corporate policies and requirements limit and restrict captive agents from offering flexibility with pricing and on a smaller number of products.

Advantages of an Independent Insurance Agency

When you’re looking to protect your family against financial losses, an independent insurance agency can provide distinct advantages over a single insurance company. Your independent agent can:

• Provide More Options: You can compare many prices and products

• Help You Save Money: You can access lower rates and discounts not found with a captive agent

• Advocate for You: You have someone who can help with claims and policy changes

• Offer Personalized Advice: Your agent has your interests at heart, not a company’s

• Build a Relationship: Your agent has time to get to know you and your needs

• Serve as a One-Stop Shop: All of your insurance needs — life, health, home, car, business, or farm — can be met in one place

• Provide the Same License and Experience: You get professional service and guidance with the same license as a captive agent holds

Many consumers believe bigger is better. But when it comes to giving you more to help mitigate risks for your family, an independent insurance agency has you covered.

An Independent Insurance Agency Can Meet All Your Needs

Finding the right insurance for your needs can feel like an overwhelming task. But by turning to an independent insurance agent, you can benefit from a better range of pricing and product options and enjoy the peace of mind that all of your insurance needs can be handled in one place.