The Difference Between Exclusive Insurance Agents And Independent Insurance Agents
When it comes down to it, there are really only two types of insurance agents. Those that works for a single company, and those that can broker for several different companies. At that point it is easy to see that you can have many more options and many more pricepoints with an independent agent. An exclusive agent however only works with one company. In some cases they may be able to broker for other companies that their parent company has agreements with.
In more recent years, a lot of insurance companies have veered away from being exclusive and moved to working with independent agents. We can see this in companies like Allstate and Nationwide. Statefarm and Farmers are the two largest exclusive insurance companies in the United States.
What Are The Benefits?
When dealing with an indepenent agent, you get more options. Not only more options in cost, but more options in coverage. This helps you to get a better "bang for your buck" because you can find the right companies that fir your specific risk factors. There are many factors that limit exclusive agents such as your credit score, traffic violations, even the breed of dog you have or a swimming pool. When you have the option of shopping around with different insurance companies, you can find one that will have a policy that fits your needs instead of one company telling you no.
What It Comes Down To
You wouldn't pay a higher price for the same brand of shoes at one store when you can get them for cheaper somewhere else. The same applies to insurance. Don't pay more money for the same product when you can get it somewhere else for less, or even a better product for less. What may be covered by one company may not be covered by another. In order to get the best value, it is best to KNOW and COMPARE options from multiple companies. Call The Oklahoma Insurance Connection for more information on how you can get the coverage you need within your budget.