What Are the Benefits of Working with an Independent Agent? 

Insurance can be critical to your ongoing financial security and fiscal stability. However, understanding the many coverage options available to you can be a complicated and even intimidating process. That’s why seeking out the right help is crucial in ensuring that you understand, acquire and maintain the proper coverage. To that end, the team at GEC Insurance Services is here to help you understand the potential advantages of working with an independent agent.

What is an Independent Insurance Agent?

Insurance agents can generally be classified as one of the following two types:

• Independent insurance agents can sell products from many different insurance carriers.

• Captive insurance agents are bound to a single insurance carrier and can only sell those policies.

What Makes Independent Agents Advantageous?

Now that you understand the key difference between independent and captive insurance agents, it may be easier to understand the potential advantages of working with the former. Specifically, consider the following benefits:

• Lower prices—Because independent insurance agents can work with multiple carriers, they may be able to cast a wider net when seeking coverage options for you, potentially leading to lower rates.

• More personalized options—The broader selection of policies available to independent agents can make it easier for them to find nuanced or customized coverage options that suit your unique situation.

• Easier portfolio management—Captive insurance agents often specialize in a specific type of insurance, such as homeowners or auto coverage. Meanwhile, independent agents may have more versatile knowledge bases and are potentially better suited to manage multiple policies, if not your entire portfolio.

• Consistent partnerships—With independent agents able to work with multiple carriers, you can continue to work with them even if you switch to a different insurance provider, cultivating a long-lasting and trusted relationship.

We’re Here to Help

At GEC Insurance Services, our independent agents are well-equipped to help you assess and manage your coverage needs. Contact us today to learn more or compare personalized quotes.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.