Independent Insurance Agents 101

Are you looking for a mediator, someone who can advise you on your insurance needs and find you the best rates and coverage? Many may be confused as to what an actual independent insurance agent is and does. 

Find out how an independent insurance agent can help and why you need to have one. TrustedChoice.com can match you with a local agent here to get you started.

Independent Insurance Agents

Independent insurance agents are representatives of several different insurance companies. They sell insurance products that most appropriately meet the needs of their clients, aka you.

An independent agent knows the complexities of the insurance markets and local and national laws that may apply. Not having an agent will cost you time and expertise that could quite literally save you from financial ruin.

These agents are licensed in one or all of the following:

Why You Need an Independent Insurance Agent

An independent insurance agent is not another 1-800 number that you have to wait on hold to contact. They are a local community leader. You will see them around the Chamber of Commerce, active in community-led events, and standing up for their neighbors. 

Your independent insurance agent is a prominent leader in your town and has a voice on insurance topics. They regularly meet with carrier representatives and presidents, helping to create reforms in policies. They are indeed on your side and are quite literally the liaison between your needs and the insurance company's decisions. 

While they don't have a magic wand that can make the carriers accept or deny your coverage, they can represent your case in all areas, making sure they are holding to their end of the bargain. 

Percentage of the Insurance Market Written by Independent Insurance Agents

What does this information tell you? Business owners are 85% more likely to entrust their entire livelihoods to independent insurance agents than any other kind of agent. This should speak volumes when businesses are putting their money on the line, literally. 

Independent Insurance Agents, What Are They Good For?

An independent insurance agent is good for a lot of things. They are your advocate and represent your needs to the carriers in the best light possible. Insurance underwriters can take accounts on a case-by-case basis. This means that if your agent does a good job of telling your story, the underwriter may make an exception even if the policy guidelines forbid coverage.

Unlike some other agents, an independent insurance agent is here to build a long-lasting book of business. They are looking for a long-term relationship with their clients, and that means making their clients happy.

An independent agent will also have many carrier options to suit all your insurance needs. They work with several companies that ensure tailored coverage for the best price. Rates with every carrier fluctuate from time to time, but an independent agent can look at other companies when this happens so you can keep on getting a good deal and not have to change agencies.

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Independent Agents vs. Captive Agents

You will have a choice between working with an independent insurance agent or a captive insurance agent. It's important to know the difference and why an independent agent is probably the way to go. 

Features & Services	Independent Insurance Agents	Captive Agents
Access to multiple companies and wide range of products
Easy switching from company to company without hassle
Unbiased and objective advice		Tries to sell & support only their one company
Claims assistance and advocacy		Adjusters are often exclusive to the one company
Policy service from the same person you bought from		To call center

It's also worth noting the different carrier options that are associated with each. As you can imagine, independent insurance carriers are different from captives. Since there are many on both sides, listing the top 5 in each category, according to a J.D. Power 2020 market survey, should suffice. 

Top Independent and Captive Insurance Companies

How to Find a Local Independent Insurance Agent 

You are in luck! TrustedChoice.com has the best independent insurance agents in your town. Connecting with a local agent is as simple as utilizing the find an agent matching tool. It's always good to know somebody who knows somebody, and now you do. Match with an independent agent today and start reaping the benefits of better coverage and the best pricing.