INDEPENDENT INSURANCE AGENT

[SandyinMonterey]

I've been with the same insurance company for 34 years. After some recent events, I'm considering a change. Since I've been with the same company for so long, it's a scary thing. Instead of calling/walking into every different insurance company out there, I thought using an independent insurance agent may be the way to go. Not because I dread the footwork, but rather go to someone who doesn't work for say Allstate or Nationwide or any other insurance company and just watch out for me. Does anyone have experience with this? Would there be a charge from an independent agent? Any advice would be appreciated. TIA.

 

[Alesia]

Sometimes an independent agent is cheaper, sometimes they aren't. If you want the best price, you'll just have to start calling around.

Years ago, we had our insurance through an independent agent and it was the best price we could find. When we got a new car, our rates skyrocketed and we had to call around and Progressive was way cheaper than anything any independent agent could get us. My daughter will be getting her driver's license this year and so we'll probably start calling around again.

 

[LynnTH]

I have been with an agency always. (same agency my parents and brothers and other relatives use). They deal with many different companies. So, when something increases or changes in our Auto or Homeowners they look for alternatives and give us our options. We have been very happy with them.

 

[usnuzuloose]

I guess it all depends on the insurance agency. I have had the same one from state farm for over 35 years right up to the time he retired. I was so sad.

But we have a million dollar policy for the business, and they were doing away with that aspect of the insurance and they had to find another one for us. It is not easy to find them. We were bounced around so much we kept getting notices we did not pay. We payed to who ever said the next person took on the policy. It was a nightmare. They finally kept the insurance for everyone. I hope this never happens again. Easy to show we paid. But still a pain to keep proving it all the time.

 

[Stacy's a freak]

We use an insurance broker who finds the best deal for us and whose main office is connected to my building. So if I have to call or walk-in, I have a brick and mortar location (which makes me happy). About 6 months ago, our agent called to say that they were getting not-so-great reviews with the car insurance company we were placed so they were discontinuing using them and moved us to another company. The annual premium was better with the new company - the insurance broker did the shopping around for us. But at that time we did some price comparing ourselves and found that the insurance we were placed in was the best price we found. We checked with Geico, Progressive, State Farm, etc. and they couldn't touch the good rate we were given from the company we were placed with. No complaints here.

 

[here757]

We use an insurance broker who finds the best deal for us and whose main office is connected to my building. So if I have to call or walk-in, I have a brick and mortar location (which makes me happy). About 6 months ago, our agent called to say that they were getting not-so-great reviews with the car insurance company we were placed so they were discontinuing using them and moved us to another company. The annual premium was better with the new company - the insurance broker did the shopping around for us. But at that time we did some price comparing ourselves and found that the insurance we were placed in was the best price we found. We checked with Geico, Progressive, State Farm, etc. and they couldn't touch the good rate we were given from the company we were placed with. No complaints here.

Yes. Broker can write for several companies! U beat me to it

 

[mrsstats]

I work at an agency. Our policy is if your rates goes up by 10% we will remarket your insurance to see if we can find you a lower premium. You are not going to get that with a direct writer (Geico, State Farm etc) We also will contact you if you receive a cancellation notice stating you did not pay your premium. We go above and beyond in customer service and that is why you use an agent.

 

[SandyinMonterey]

I work at an agency. Our policy is if your rates goes up by 10% we will remarket your insurance to see if we can find you a lower premium. You are not going to get that with a direct writer (Geico, State Farm etc) We also will contact you if you receive a cancellation notice stating you did not pay your premium. We go above and beyond in customer service and that is why you use an agent.

What is the cost for these services?

 

[Denise W]

What is the cost for these services?

There is no cost. It is part of the service an independent agent provides.

Denise

 

[Judique]

There is no cost. It is part of the service an independent agent provides.

Denise

The cost is built into the price of the product just like when you buy insurance from any other source.

 

[Denise W]

That's correct. I worked for an independent agent, a direct writer carrier, and two carriers that sold through independent agents, so I saw many sides to insurance sales. I was also an underwriter, claims adjuster, subrogation adjuster, supervisor, and arbitrator throughout my career.
Denise

 

[MillauFr]

The cost is built into the price of the product just like when you buy insurance from any other source.

What if you buy insurance from a company that doesn't pay commissions to agents?

 

[DebbieB]

What if you buy insurance from a company that doesn't pay commissions to agents?

Independent agents make their money through commissions. Typically around 15%-20%.

 

[MillauFr]

Independent agents make their money through commissions. Typically around 15%-20%.

I guess I didn't think to call an independent agent. I just called Amica and Pemco directly when I wanted a quote for homeowners, auto, earthquake, and umbrella. I never saw that either had agents in Seattle.

 

[Denise W]

I guess I didn't think to call an independent agent. I just called Amica and Pemco directly when I wanted a quote for homeowners, auto, earthquake, and umbrella. I never saw that either had agents in Seattle.

I worked for Amica and they are a direct writer. As far as I know they still don't sell through an independent insurance agency. When I was there, quotes were done by the underwriters. That was a long time ago, though, and the company has grown since then.
Denise