Experts say that there are over a million people in the insurance industry in the United States. That’s a lot of people! As a client, the question for you is, who should you trust? Everybody and their brother is wanting to sell you insurance, and let’s be honest, insurance agents are often seen as predators trying to make an easy buck. Unfortunately, this isn’t always just a stereotype. You need to find an insurance agent who will work for you, helping you find the best coverage for the best rates. That’s why you need an independent agent.
Independent Agents Work for You
One of the most significant benefits of hiring an independent insurance agent is that they aren’t reliant on one company for their paycheck. Instead, they work for you as a kind of consultant and advocate. Instead of trying to push a sale on you for “their” company, they can help you find what is best for you and/or your business.
For example, if an Erie Insurance policy meets your needs for your auto insurance better than a Geico policy, they won’t be afraid to tell you. Or if you can get a better deal on your small business’s workers’ compensation insurance with Employers than with your current provider, it will be in their best interest to help you switch policies.
Independent agents don’t work for a company. They work for clients as intermediaries to help clients find the best coverage.
Independent Agents Help You Save Money
Independent insurance agents can help you save money in two primary ways. First, as we mentioned before, they can help you find the best rates available for your insurance needs. At Veritas Insurance, for example, we have helped businesses recover hundreds of thousands of dollars on their workers’ compensation insurance policies.
Secondly, independent agents significantly reduce the time and money spent on search costs. Instead of doing your own research to find the best deals, an independent agent who has spent years studying the market and trends can help you find the best coverage. Again, it is in their best interest to find you the highest quality coverage for the best rates.
Independent Agents Do Not Cost More
One concern a lot of people mistakenly have is that independent agents will cost extra. However, this is not true. It is no more expensive to work with an independent agent than it is to work directly with a company. Instead, it saves you money. Additionally, working with a local agent who knows your area’s coverage well means you will be supporting your local economy.
Taking the "Shady" Out of Insurance
Insurance doesn’t have to be a shady industry. You need someone who’s going to work for you and can offer you several options. Someone who can go to numerous insurance companies and compare their products and prices. Someone who, if necessary, can place parts of your insurance program with more than one company. Do you want a good price? Do you want options and flexibility? And do you want protection against worst-case scenarios? There’s only one option here: Use an independent agent.
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On March 9, 2022, the Federal Motor Carrier Safety Administration (FMCSA) amended its Record of Violations Rule. As a result, drivers operating commercial motor vehicles in interstate commerce no