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Benefits of Using an Independent Insurance Agency

Many people are now turning to the internet to find their next insurance policy.  The reason they do this is because it is convenient; you can obtain a quote at anytime and even activate a policy online.  Many companies also offer answers to the most commonly asked questions and options such as email and live chat to help you get any other information you need.

What you may not know when you are entering your details online is whether you are dealing with an independent Bolton insurance agency or not.  There are some which are obviously not independent as they offer you insurance quotes from their own range only.  However, there are many who will offer you only a limited number of quotes; they may not be fully independent agencies.

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What is an Independent Insurance Agency?

Whether you are looking for a quote online or at your local insurance agency it is important to verify which insurance companies they are dealing with.  You cannot hope to get the best possible deal if your agent is only dealing with three insurance companies.

An independent insurance agency will have connections with many different insurance companies.  This means that they are able to access the company databases and provide you with an accurate quote.  You will receive quotes from many different insurance companies and they will range in price.

The independent agent will then be able to talk you through the different options to help you make the right choice for your insurance needs.

Affiliation

It is important to be aware that an independent insurance agency will get paid commission for every customer they introduce to the insurance company.  This is how insurance agencies earn their money.  Unfortunately, this also means the system can be manipulated.  

An insurance company can offer high rates of commission to an agent in a bid to encourage them to sell you their insurance policy rather than one from a competitor.  This does not stop the agent from being independent and is legal; in the spirit of healthy competition.  However, it does mean that your agent may attempt to justify a more expensive policy to you without telling you the real reason why.

Apply With Caution

It is therefore important to proceed with caution, even when using an independent insurance agency.  If you are online you will be able to see which insurance companies they are affiliated to.  You may also be able to see the commission rates they will be earning.  If you are in the office you can simply ask them what commission they will earn for each quote.

However, the best way to make sure you have the right deal for your needs is to look at the details of the quote.  This will show you what you are getting for your money and help you to make the right decision; regardless of how much the agency will earn.

It is also worth using several comparison sites to get a feel of the rough price range; this will ensure you are not being overcharged.

 

About Ellen Lile

Ellen Lile

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