The Importance of Independent Insurance Agencies
May 5, 2020
Your Independent Insurance Agency is An Important Part of Your Community.
In the market for an insurance package? The options for insurance agencies can seem boundless, with each agency claiming to have the best deals for your situation, how can you begin to review your options? One of the first considerations for anyone searching for insurance should be whether to do business with an independent agency or a single-company (captive) agency.
Captive agencies are bound to a single insurance company. While a captive agent may know their company very well, while you’re searching for a quote for a new insurance policy, it is likely they can provide you with only one quote.
Independent agencies can represent dozens of highly rated insurance companies. That allows the agent to explore a wide range of options for each individual policyholder they represent. In contrast to a captive agent, independent agents can present you with multiple quotes from several of the companies with which they work.
Captive insurance agencies may be driven by quotas that are set by the company which they represent. While many independent agencies also have some degree of sales-goal set by each company they represent, the agent will still have your best interests in mind while shopping on your behalf. If a certain insurance company’s goals aren’t met by an independent agency, the impact is minimal if that company severs the partnership with the agency. As independent agents have plenty of other options to showcase to prospective or returning customers. This is not the case should a captive agent fall short of the quotas set, as recurring shortfalls on quotas may result in the agent being fired as a representative of the company, causing customers to need to find a new agency to continue their coverage.
In addition to the flexibility and increased insurance options provided by an independent agency, you can see the impact of your business with an independent agent more directly. When an insurance agent is captive to one company, less of the money that you’re spending on the insurance package you’ve chosen is going to that agent. While a captive agent may take a commission on the insurance you’ve selected, they are likely salaried - independent agents, on the other hand, typically rely on sales commissions thus providing a more direct contribution to the local business environment, instead of upwards into the pockets of upper management of insurance companies.
The personalized care that an independent insurance agency will provide to you will ease the stress that buying insurance can cause, whether you’re shopping for personal or business coverage.
Ready to start shopping with your local independent insurance agency? Give us a call at 607.734.8799, we look forward to helping you!
Auto insurance companies are facing unprecedented rate increases due to inflation and the increasing cost of repairs. One of the most simple ways to assure your auto insurance rate is providing the best value is to take a defensive driving course - which is available to you online ! For residents of New York, the Improv Traffic School is currently offering their top-rated, fully-online defensive driving course for under $30, making it easier and more affordable than ever to both become a better driver, and save on auto insurance premiums. Some benefits of taking the course include: A guaranteed reduction of up to 10% on insurance rates - The certificate is recognized by all New York State auto insurance companies. Reduction in points on your license - For people with points attached to their driving record, the Defensive Driving Course can help eliminate those marks on your driving history. A fully online learning environment - The course can be completed from the comfort of your own home, with an instant awarding of your certificate upon completion. No final exam - Anxious test-takers, worry not. The Improv School’s course is content-oriented, making the focus more about taking in information than being able to reiterate the contents of the class. The course is designed to benefit you. If your defensive driving certificate is near its expiration date, now is the perfect time to renew without going out of your way. For folks who have previously completed a Defensive Driving Course, the Improv School also offers a 3 Year Renewal Course in order for you to retain your discount. If an online course does not sound like the right choice for you, there is a classroom-style Defensive Driving Course for your consideration. The classroom-based course offers all of the same benefits as the online equivalent, including the reduction of up to 10% on your insurance rates. Whether you’ve been seeking a way to lower your premiums, or simply desire to improve your driving habits, learning more about defensive driving strategies is a simple and efficient way to start.
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