In a recent survey conducted, consumers said the top three most important aspects for them when choosing a Scottsdale insurance professional and/or company is pricing, ease and knowledge. I am going to demonstrate how having an insurance broker on your side has an advantage in all three of these areas over all other insurance professionals including captive agents.
1) Pricing
A captive insurance agent is an employee of the insurance company that he or she sells for. They are strictly bound to writing only that companies products and services. They don’t have the ability to “shop” your insurance around to other companies to find you the best possible price for the coverage you need. Therefore, when you call up a captive agent to obtain an insurance quote for your new vehicle or home, he can provide you with ONLY 1 price for the coverage that you are requesting. Not only that but there may be coverage that you need but that company doesn’t offer them and therefore the agent cannot help you out because they are restricted to only that one insurance company. On the other hand, a local insurance broker have at their disposal the ability to quickly check prices and coverages with dozens of top rated insurance companies. This will not only get you the best price but also the correct coverage that you need in order to fully protect yourself.
2) Ease
An insurance broker is a one-stop-shop for all of your insurance needs. They don’t just sell auto insurance or homeowners insurance but also life, health, business, etc. which most captive agents can’t/don’t sell. A broker is there with your needs in mind while a captive agent is restricted to the products and coverages of just one insurance company and they may not be what’s best for you. You could go to each insurance companies website and put all of your information on their and get 20 or 30 quotes but how much time would that take? And do you know which coverages you need and what discounts that you will qualify for to obtain the best price? Probably not, and that is why using a Scottsdale AZ broker to help you save both time and money!
3) Knowledge
Captive insurance companies will hire individuals without any experience in the insurance industry and up to 70% of captive agents have less than 2 years of insurance experience. Would you want your insurance agent to have little or no experience dealing with your insurance needs and protecting your assets? Being a broker, you have to have a minimum number of years in the insurance industry and/or the knowledge of your products and services that you will offer. A broker has to “interview” or be selected by each insurance carrier (20 or companies) that he wishes to sell products for. Therefore, he has to demonstrate knowledge and understanding of the insurance industry before discussing insurance products with you the consumer.
Please remember to contact your local Scottsdale broker because he/she will always have your best interest in mind. They’re a free personal shopper for all of your insurance needs!
