What does an independent insurance agent do?

Independent agents are insurance agents or brokers that are not employed by any specific insurance agency. Independent agents are, therefore, able to sell insurance policies from multiple companies, where they are paid on commission for each policy sold.

What makes an independent insurance agent different from other agents?

The main difference is that independent insurance agents offer more choices than captive/exclusive insurance agents. Captive/exclusive agents offer only one insurance company’s products. This means they can only place your policy with that one company. Independent agents, on the other hand, have options.

Who do independent insurance agents represent?

Independent insurance agents typically represent a number of insurance companies, or “carriers”, and sell the products that most appropriately meet the needs of their clients. Independent agents typically are very well trained and knowledgeable of the complexities of the insurance market and insurance law.

Do independent insurance agents handle claims?

Although the insurance company manages the claim, independent agents often are the point of contact for insureds and play a crucial role in the claims process.

How are the agent and the broker considered independent from each other?

A broker represents the insurance buyer. Agents serve as representatives of insurance companies and may be captive or independent. An independent agent represents multiple insurers. An insurance agency sells policies on behalf of insurers that have granted it an appointment.

What is the difference between a broker and agent?

In real estate, an agent is an individual who is licensed to sell property in their state. A broker is someone who is licensed to own their own real estate firm.

What’s the difference between broker and agent?

Are there any insurance companies for independent agents?

For independent agents, the opposite is true. However, there are many property and casualty insurance companies for independent agents out there, so do your research and you should find something. We’ll help you.

Is it hard to get appointed as a new P&C insurance agent?

Getting appointed as a new property and casualty insurance agent is one of the biggest feats new agents have to overcome. It’s difficult but not impossible. Learn how to get appointed as a new P&C insurance agent with our guide below.

Should I become an independent agent or a captive agent?

Some people want to begin their career in the insurance industry as independent agents and skip the phase of working as a captive agent altogether. While this sounds great in theory, the agents that go this route tend to find that it is actually more difficult than the alternative.

How do I become an independent insurance agent for progressive?

Insurance companies tend to give preference to agents with prior experience in the field when it comes to granting appointments. So if you’re wondering how to become an independent insurance agent for Progressive or another big company, you may have to get more experience first.