Insurance Agency

How do I choose an Insurance Agency?

Insurance Agency selection is a method involving several key aspects. Each aspect depends largely on you doing your homework and getting a comfort level with the right insurance agency for you. Factors include location, product specialties, number of years in business, reputation in the community, and insurance companies represented.  

Insurance agency location is important because your life is busy. What if you need to drop off a payment or sign a form? Convenience can be a real time saver.

An insurance agency may specialize in business insurance only. Maybe you need business insurance and the insurance agency specializes in personal auto and home insurance. Find an insurance agency that specializes in the types of insurance you and your family needs.

The number of years in business can be important because it is an indication of success. The fact is only 10% of insurance agents make a career selling insurance. If your agent leaves, being passed around as an 'orphan' policy owner isn't fun. The new agent may call you (gung-ho about his new career) and try to sell you unwanted insurance products. Work with an insurance agency that has been in business for years, not months.

Reputation in the community is an important indicator of good customer service.

The prudent thing to do is get multiple insurance quotes from local agents. Once you have the quotes, ask around to be sure the insurance agency has a good reputation in the community.

Finally, insurance company representation is important because the agent may be forced to sell an inferior product because he/she is a captive agent. A captive agent sells only the company he represents. Independent agents can and do represent multiple insurance companies. While a captive insurance agency is perfectly capable of having great products, make sure you do your homework. Check out third party rating agencies like Standard and Poor's.

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