How to pick an insurance agent?

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This detailed blog will throw light on important factors to consider while choosing an insurance agent and also some tips on asking the right questions.

Selecting the right insurance agent is an important decision that has a lasting impact on your financial well-being. You can not just choose an insurance broker who offers insurance at the lowest price. 

What should you expect from an insurance agent? Who can be the best insurance agent? How to pick the right insurance agent? Here are a few tips to consider while choosing an insurance agent:

  • Consider Their Location
  • Research Online Review & Ratings
  • Seek Referrals from Friends & Family
  • Check Their Degree & Credentials
  • Assess Their Social Skills
  • Direct Writers vs Independent Agents
  • Ask for a Written Quote
  • Evaluate Their Specialisation
  • Understand the Claim Process
  • Assess Financial Stability

Let’s dive deeper into them.

Consider Their Location

Location is an important factor when selecting an insurance agent. Location directly affects their service. If the insurance provider has an office near your home, you get the convenience to discuss things ‌, get help with a claim, and develop a strong professional relationship. 

Even if the insurance agent operates in another city, he/she should be reachable and proactive in responding to emergencies.

Research Online Review & Ratings

When selecting an insurance agent, know about their reviews and ratings available online. Explore multiple platforms like Google, Linkedin, Facebook, and other specialized insurance websites to know their clients’ experiences. 

You should read both positive and negative reviews to get a complete understanding of the insurance broker’s services. Also, pay special attention to the recent reviews (in the past 6 months or 1 year) as those reviews give a better understanding of their current state of service. Online reviews and ratings at least offer a bird’s-eye view of their services and customer satisfaction.

Seek Referrals from Friends & Family

Your friends and family can also help you choose the best insurance agent. You heard it right! Since buying insurance is a significant task, you can seek references from insurance brokers from your acquaintances. You may get the reference of an insurance agent who has a proven track record of good customer satisfaction, and that too quickly and easily. Personal connections can offer deep insights into the insurance agent’s customer service, responsiveness, and overall satisfaction. 

In short, trusted recommendations help you make an informed choice and you can buy insurance policies with full confidence and assurance. 

Check Their Degree & Credentials

The key indication of an insurance agent’s knowledge and expertise is their credentials and degree. Always check the certifications of the insurance agent and ask them about their experience. 

In the United States, here are a few recognized designations that a qualified insurance agent must have:

CISR – Certified Insurance Service Representative

AAI – Accredited Advisor in Insurance

CPCU – Chartered Property Casualty Underwriter

CIC – Certified Insurance Counselor

CLU – Chartered Life Underwriter

Insurance agents having some of these licenses are said to be proficient and capable enough to navigate the insurance landscape. 

Assess Their Social Skills

When short-listing an insurance agent, you can even consider meeting the agent in person to gauge their social skills and personality. 

How confident is the individual while explaining to you about their insurance services? How good is he/she when you explain your requirements and life goals? When you converse and meet them in person, you can make an informed decision. 

Insurance consultancy is a people-based industry. The most successful insurance advisers possess good social skills, blended with a sound knowledge of the insurance industry. 

Also, professional collaborations are much easier when you like the other person than doing business with people you don’t like. 

Direct Writers vs Independent Agents

Clients can obtain insurance in two ways: one is from direct writers and the other is from insurance agents. Direct writers vs Independent insurance agents – know the difference below!

Direct agents are also known as captive insurance agents and they only work for a specific insurance company. They can only guide you about the offerings that their insurance company provides. If you plan to secure an insurance service with a single company, you can consider working with direct writers. 

As the name suggests, independent agents can offer various insurance services from different companies. As they are not bound to work with a single company, independent insurance agents can offer better customization options and more flexibility. They can be loyal to you as a customer. 

Ask for a Written Quote

Before committing to any insurance agent, requesting a written quote is a prudent step. This not only gauges their proficiency in explaining insurance intricacies but also assesses their efficiency in providing timely quotes. 

If an agent takes too long to communicate, consider it a warning sign and explore alternative options. Trustworthy agents prioritize timely and detailed communication to ensure clients have access to essential information. Attention to small details is crucial in selecting an insurance agent, and if they falter in these aspects, it’s advisable to streamline your choices further.

Evaluate Their Specialisation

Consider what type of insurance is the agent offering and if that is aligned with your requirements. For example, if you’re seeking life insurance, an agent specializing in life insurance can provide tailored advice on coverage options, policy structures, and beneficiary considerations. 

However, the same agent may not have great expertise in commercial insurance. Hence, only look for an insurance agent who has specialization in the type of insurance product you require be it Grocery Store Insurance or Restaurant Insurance

Understand the Claim Process

Please inquire about the claim process and how the agent assists clients during their claims. An efficient insurance agent should provide prompt assistance. A responsive and supportive agent can help in facilitating a smooth claim settlement. 

Assess Financial Stability

Look into the financial stability of the insurance company the agent represents. A financially stable company is more likely to fulfill its commitments. Such a company can pay claims on time. 

Avail Insurance With Exceed Insurance

Exceed Insurance is a multi-faceted insurance agency operating in 40 states across the USA. We are a 20-year-old leading insurance company in the USA. We provide various types of insurance for individuals and businesses such as Gas Station Insurance, Grocery Store Insurance, Shopping Center Insurance, Hotel Insurance, Liquor Liability Insurance, and more. Get in touch if you have any requirements!

FAQs :

  • Can an insurance agent provide any assistance in premium savings?

Agents can explore various discounts, review policy options, and provide recommendations to help reduce premiums. They may also suggest adjustments based on changes in your circumstances.

  • Should I disclose all the information during my consultation with an insurance agent?

Yes, complete transparency is crucial. If the agent knows all the information, he/she will provide a suitable coverage option that fits your requirements.

  • Should I get a quote from multiple agents and compare them?

Yes, many agents offer free quotes without commitment. This allows you to compare options and assess whether the agent’s offerings align with your requirements before deciding.

Published: January 25, 2024

Last updated: February 15, 2024

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