Whether you’re in the market for life or health insurance, travel insurance, home or auto insurance, or any other type of coverage, you have three main options when it comes to making a purchase.
In the following post, we’ll talk about the pros and cons of each of these options. By the end, you’ll know exactly which avenue will get you the best coverage and the best service.
The 3 Ways to Shop for Insurance
- Direct Buy Insurance
You can purchase your insurance directly from the insurance company with direct buy insurance. Get on your laptop, go to the company’s website (or give them a call), and pick your plan.
Pros: Buy your insurance on your own time, and compare prices. You won’t be working with a “middleman” (an agent), so it’s possible you might save some money on your policy at the outset.
Cons: You’ll have no personalized assistance or aid in choosing the best policies. As such, it’s possible you’ll end up paying for coverage that doesn’t serve you well. You’ll also be flooded with sales calls, texts, emails, and flyers.
- Captive Agents
Head down to your local captive agent to get an insurance policy from the specific company the agent works exclusively with. Captive agents have offices in their local area and again, work with one insurance provider alone.
Pros: If you know exactly who you want to buy your insurance with, find a captive agent who writes policies for this company and you’re good to go. You’ll get personalized assistance and advice choosing the best plans for you.
Cons: Because captive agents only work with one provider, you’re limited in your policy options. Moreover, you may be getting biased advice from your captive agent as they won’t tell you if your options aren’t a good value.
- Independent Agents
Independent agents and captive agents are the same except for one crucial difference: You’ll get a far greater amount of choices with a captive agent. Why? These agents can work for a number of different insurance providers at once (remember that captive agents only service one provider). This broad selection of plans then gets passed on to clients.
Pros: Independent agents provide you with personalized service and the best selection of choices regarding policies. You can also purchase a range of insurance types in one place with one agent. Swap, switch, cancel, and add plans at your will — all while sticking with the same independent agent. Finally, get freedom, flexibility, and excellent advice; all your agent wants is for you to get optimal coverage and limits. They’re not concerned with selling you on a specific plan.
Cons: Like captive agents, independent agents earn a commission. While this can bring the price of your premiums up slightly overall, do remember that independent agents provide much sounder coverage, and when you need to make a claim, adjust your coverage, or add a new policy, they’ll be there to help you every step of the way.
How Should You Be Shopping for Insurance?
Of course, independent agents are always the optimal way to shop for insurance. With them, there’s no confusion, no fuss, and no wasted time. They have the best deals, the most comprehensive policies, and the fullest coverage and limits every time. Of course, their service is also second to none.
Giuffre Insurance has a team of experienced and friendly independent agents who are ready to be of service to you. Stop by our office today, or give us a call to learn about our range of policy options.