You may have heard the titles “Insurance Broker” and “Insurance Agent” if you have been shopping for car insurance. These titles are often used interchangeably, and either an agent or a broker can be helpful when you are trying to get your insurance coverage in order. But what is the difference between an Insurance Broker and an Insurance Agent? And when would you use one over the other? Read on to learn about these two services and how you might use them.
The Main Differences between an Insurance Broker and an Insurance Agent
Before we discuss each role, there are two important distinctions between these two professions that may steer you towards using one over the other.
- Insurance agents represent the insurance company and insurance brokers represent consumers. It is not necessarily a bad thing to use an agent, and in fact most people do. This doesn’t mean they are looking out for the interests of the insurance company over you.
- Insurance agents actually write and complete your policy on behalf of the company. Insurance brokers cannot take this step.
Read on to find out more about agents vs. brokers.
What is an Insurance Broker?
An insurance broker works for the consumer. Because they do not represent one insurance company, a broker may be able to find the perfect fit for your insurance needs by looking at several insurance carriers. The primary focus for the broker is on you, the client.
What is an Insurance Agent?
An agent, on the other hand, usually represents a specific insurance company, and in some cases several. Agents may only offer one product, or limited products, and that may be all you are looking for. Insurance agents can assist you with often complex insurance questions as they know their companies and products inside out.
Which Option is Best for You?
It’s not always easy to understand insurance products, especially if you are insuring multiple items such as your home, your car, perhaps even some valuable items. Insurance is complicated and having an agent or a broker to guide you can help.
If you need help with relatively simple insurance tasks, such as getting car insurance, an agent may be all you need. If you know which company you want to go with, even better. Simply contact one of their agents to start the process and have your questions answered.
If, however, you need more complex coverage or a have a unique situation, an Insurance Broker may be the way to go. A broker will take a comprehensive look at all your insurance needs and help you build a policy (or policies) that gives you protection at the level you desire.
The bottom line is that agents and brokers are there for you if you have questions or need advice. Even if you buy your car insurance online, the company’s agents are there to answer your questions.
And if you want to connect with agents online, InsuranceWins can help. Just fill out our fast and easy form to start receiving auto insurance quotes from companies you know. And if you have questions, agents are there to help!