When it comes to insuring and protecting the things that matter most to you, it’s important to find an insurance agent you can rely on. The process of shopping for an insurance agent isn’t always straightforward, however. It’s often helpful to learn more about the insurance industry prior to choosing an agent.
In this post, we’ll take a look at the differences between independent insurance agents and “captive” agents who work for a single insurance company.
The biggest difference between independent insurance agents and captive agents is that independent agents work with multiple companies, while captive agents work with one company. What does this mean for you? An independent insurance agent can offer you a variety of policy quotes from different companies. Since independent agents are not locked into a single company’s policies, they can usually shop around on your behalf to find the best value for your money.
A captive agent is typically limited to only the insurance solutions offered by his or her company, which may or may not fully meet your needs. A good independent insurance agent will work hard to customize a package to your needs, offering solutions from a number of companies.
Technology advances rapidly, leading to new risks. For example, the recent addition of chip readers for credit cards in the United States has led to a number of changes for businesses. While the cards are meant to provide added security for consumers, they still face security risks. A number of large corporations have had major security and data breaches in the past few years.
If you own a business, your company’s needs regularly change, so it’s important to find an agent that will change with you. Laws also change, leading to new standards and codes. For example, if you work in a niche market that manages waste for a power plant, your policy needs may evolve with new environmental regulations. An independent insurance agent may not be able to immediately know of a specific solution, but he or she can find companies that offer the policy you need.
Shop For Your Needs
Do you want an agent who will continually seek out better solutions for you? Is it worth your time to shop around? These are the major factors to consider when deciding whether to work with an independent insurance agent or a captive agent. Independent agents present you with quotes from multiple companies, which could translate into an all around better solution. Captive agents present solutions from their company.
Looking For an Independent Insurance Agent?
The search is over! The experienced independent insurance agents at Kincaid Insurance can provide you with the solutions you need for your home and business. With nearly two decades of working in the Tri-State area of Indiana, Illinois, and Kentucky, our agents can answer your questions and help you assess your needs.
Kincaid Insurance is located in Rockport, Indiana. Our agents work with individuals as well as businesses in Evansville, Owensboro, Louisville, Mt. Vernon, Vincennes, and beyond. Contact us today by calling 1-877-888-5506.