When it comes to buying insurance, you might wonder whether or not to buy it directly from a carrier, or if you should go through an insurance agent or broker. With the advance of the internet, it has become easier to purchase insurance straight from carriers. This can seem attractive, because of its convenience and a quick purchasing process. But is this the best option?
One disadvantage of purchasing insurance directly from a carrier is that they are representing their own interests and not necessarily yours. Insurance carriers are businesses, and their primary goal is to maximize profits. This means that when you purchase insurance directly from them, you may not get the best policy or coverage for your specific needs.
On the other hand, insurance agents and brokers are trained professionals who work on behalf of you. They make sure you are getting the best coverage at the best price. They can provide guidance and advice when it comes to coverage.
Insurance agents and brokers usually have access to a wide range of insurance carriers. This means that they can compare policies for you, and find coverage tailored to your needs. Buying from a single carrier means you’ll get their offers at their price.
You might assume that buying directly from a carrier means more savings, but this is not always the case. The fee to buy through an agent or broker is typically already added to the premium. So whether or not you purchase from a carrier or agent, the price will be about the same. Insurance agents also may be able to negotiate better rates with carriers resulting in more savings.
If you’re in the market for insurance coverage, it may be worth considering the benefits of working with an insurance agent or broker. Keep a professional in your corner.
Contact us today if you have any questions about your coverage, because we live it day in and day out.
