When you buy from an insurance agent instead of the company directly, you get face to face interaction. You will be working with the same local person each time and can build a relationship with your agent.
In today’s age, there are plenty of “direct writer” insurance companies. These companies cut out the “middle man” by selling directly to you.
While you may think that you are saving money by going direct through the carrier, that typically isn’t the case. By dealing with the insurance company directly, a consumer takes on a risk that they may not even be aware is there.
In previous years, insurance companies didn’t even sell to the general public. Their products were sold to customers by agents, who had to be licensed through the state.
Consumers paid the agent nothing because the insurance companies paid the agents a commission, which was not added to the retail price.
The agency system is still there.
The insurance agent is your legal representative to the insurance company. The agent is licensed by the state and carries with them a fiduciary responsibility to be your advocate. The agent must put your interests first and over the insurance company. Even though the agent is paid by the insurance company, they actually work for you.
An independent agent does important things for you, that you may not realize.
When you go direct, you have no licensed, regulated insured agent acting on your behalf. You take full responsibility for your coverage decision.
Don’t get us wrong, there is nothing wrong with direct-writer insurance companies. However, if you deal with an agent there are certain services and protections you are going to get that a direct-writer insurance company simply cannot provide.
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