How to Choose Local Insurance Agent?
Life is full of uncertainties and any major event including lose of job, shifting to a new home, buying a new vehicle is enough to trigger proper review of your insurance cover. Our living environment has changed along with our expectations from life. It is important to get the right insurance cover for you and your family. Your insurance cover is the guarantee that you can face any major changes that life throws at you with ease.
Life is full of uncertainties and any major event including lose of job, shifting to a new home, buying a new vehicle is enough to trigger proper review of your insurance cover. Our living environment has changed along with our expectations from life. It is important to get the right insurance cover for you and your family. Your insurance cover is the guarantee that you can face any major changes that life throws at you with ease.
Nowadays people prefer to purchase a policy online insurance based on their reviews of other customers. Some consumers even research on a blog or forum. There is no doubt about the
advantages of getting a insurance policy online especially the ease of getting your
insurance while sitting in your drawing room. But for the first time insurance
buyers it is not advised to go through the process all by yourself. This
article will discuss the advantages of hiring a local insurance agent for purchasing
the best policy for your family and how these local insurance agents can help
in making the most out of your money.
What are the different types of Insurance Agents?
Most of the people are unaware of the fact that there are
different types of local insurance agents. Each of these agents has some specific
qualities and you can make a choice as per your requirements.
·
Independent
Agents: Independent agents are affiliated with different insurance
companies and they are best for people having some specific risk cover
requirements. These agents receive commission from all the companies they have
contract with.
·
Captive
Agents: The major difference between independent insurance agents and
captive agents is that captive agents are associated with a single company.
Just like independent agents, they receive commission from the company. These local insurance agents should be preferred if you are interested in purchasing
insurance from a specific insurance provider.
·
Insurance
Brokers: Insurance brokers are helpful in complex transactions like getting
insurance for your small business. These agents deal in larger markets and they
will be your representative for collecting the best quotes for your business. Brokers are generally your best choice simply because they represent more than the average agent or agency.
How to find an insurance agent?
The next step in the ladder is to find a local insurance agent
according to your requirements. Some of the best methods of finding an
insurance agent are discussed below.
·
Referrals
from friends, neighbors, family: Getting referral from your known ones is
one of the most common methods of finding an insurance agent. You should focus
on important questions like why they recommend a particular local insurance
agent or service provider. Is it because of the customer care service,
specialty in handling claims, knowledgeable and friendly agent or any other
special qualities?
·
Online
search: Internet is the new global market and it is best for finding an
insurance provider. You can easily find out licensed insurance agents from
different companies and contact them accordingly.
·
Local
Authorities and Trade Associations: If you are a new business owner, it is
best to consult local trade associations for their recommendation. There are
some companies working without local insurance agents and you can contact them
directly.
Important factors for selecting a Local Insurance Agent
There are some important factors that you should consider
before making the final call. Keep in mind that having large number of options
is always the best option.
Plan Selection:
If you are looking for family insurance quotes, dental insurance , accident plans, Life Insurance or medicare supplements it is best to find a Local insurance agent with a wide selection.
·
Credentials
of Agent: It is best to select a local insurance agent with credentials from
major insurance providers. But make sure to ask them that how they earned these
credentials and what do they exactly stand for?
·
License:
The first thing that you should look out for is the license of the agent as
well as insurance provider company. You can easily find such information from
the local government bodies and internet.
·
Financial
Standings of Company: Make sure to check the financial rating of the
company from all the major rating standards. Look out for the ratings of the
company and their comparative performance in the market.
·
Ask for
References: It is best to ask for references and it will rather make the
choice easier for you. Look for references from banks or any other financial
institutions.
How to protect yourself from fraud Insurance Agents?
With the large number of insurance agents and providers in
the market, the chances of getting into fraud insurance agents are heightened.
Some important tips to avoid insurance frauds are given below.
·
The first rule of getting insurance is to avoid
giving any personal detail until you are sure about the legitimacy of the
provider. Always meet in personal for purchasing an insurance plan.
·
It is advised to maintain proper record of every
single document including payment receipt, important paperwork, documents
related to insurance and proof of premium payment submission.
·
In case you have not received the hard copy of
your insurance policy within 30 days of the insurance, call the company at
once. It will help in identifying any potential fraud without further delay.
In the end the most important thing is to do proper research
and study of the company before making any choice. Always read the terms and
documents before signing. One should always avoid getting too dependent on the
agent. After all, it is the insurance cover that provides protection to you and
your family.
Created By Rocco Solorzano , Managing Broker - Policy Online © 2012
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