3 Different Ways To Purchase Insurance

3 Different Ways To Purchase Insurance

Today’s personal and business insurance markets are full of dynamic ways to obtain coverage. While policy offerings are similar, it’s important to know what each type of provider can offer to you as a consumer. There are three ways insurance coverage is offered to customers.

Independent Agents

Independent insurance agents Albuquerque, NM are not bound to write policies for just one insurer. This means they can offer you a host of different policies and financial products to suit your unique business or personal needs. They can also offer the best prices by comparing the same policy written by different insurance companies.

Exclusive Agents

By contrast, exclusive or captive agents are only permitted to sell for the company and its affiliates they have contracted with. The advantage is that writing all of your policies within the same company may carry a bundling discount. However, exclusive agents are not permitted to compare your quote with other companies’ offerings to get the best price.

Direct Writers

Direct insurance writers don’t use outside agents at all. Typically, policies are written through a call center or over the internet. Because they’re not paying agents’ commissions, insurance companies that use this model are able to offer cheaper coverage. However, the expertise and personal relationship many customers value with their agents is not possible with a direct writer.

Purchasing insurance through any of these avenues will help meet your business or personal needs. However, it’s important to know the difference when shopping for the best purchasing experience.