Like most small business owners, you probably purchase your insurance policies through an insurance agent or broker. The functions performed by insurance agents are similar, but not identical, to those performed by brokers. This article will explain how they differ. It will also explain how agents and brokers make money from the premiums you pay your insurers. Except where noted, the following discussion applies to agents and brokers selling property/casualty insurance.
You have likely come across brokerage firms when shopping for insurance. Many buyers prefer working with these firms as most have established track records with staff that offer the experiences and resources you need to make an informed decision. With a brokerage firm available to guide you and answer all of your questions, you can gain a solid understanding of what terms and rates are being offered by various insurers. Of course, not all insurance brokers offer the same level of quality. Just like shopping for insurance, it is important to shop around to find an insurance broker who you can trust.
One thing an agent will excel at is assessing your needs. In addition to buying the right type of life insurance, you’ll want to find an insurer that offers you the best rate. Insurers will charge you a higher rate if your medical history indicates that you pose a higher risk, so an agent could help you figure out which insurer penalizes certain health conditions more than others.

Car Insurance

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