Did you know there are over 5000 domestic insurers in the United States? With these many insurers, it will be difficult for anyone to decide on one insurance provider. Insurance agents make this process easier by narrowing down the list for you. However, the wrong insurance agent can mess this process up, leaving you stuck with an incompetent insurer. This is why you need to know how to pick an insurance agent.
Our guide breaks down the process of choosing agents into easy-to-follow steps. From checking credentials to asking for a risk review, this is how to pick the best insurance agent:
Step 1 - Determine the Type of Agent You Need
You will generally find either captive insurance agents or independent agents. Captive agents are also known as direct writers, and they are tied to just one insurance company. Therefore, they can’t give you a wide range of products. Independent agents, on the other hand, work with multiple insurers and can give you many suitable options.
Captive agents are a great choice if you are familiar with the insurance company they work for. This agent will have an in-depth knowledge of the insurer’s different policies and will recommend the best one. However, if you aren’t sure of the insurance company, it is best to work with an independent agent who can give you more options.
If you are trying to purchase insurance for your business, you should opt for a commercial insurance agent. This is because they will better understand the scale of insurance you need. However, if you want a personal policy, a personal insurance agent is just right for you.
Step 2 - Check the Agent's Specialization
When you start searching for an insurance agent, you should already know what kind of insurance you want to buy. For instance, maybe you want a comprehensive homeowner’s insurance policy. You should only choose an insurance agent who has expertise and experience with homeowner’s insurance.
An agent specializing in the type of insurance you want can help you get the best possible coverage. For example, an insurance agent specializing in homeowner’s insurance will suggest a policy with dwelling, loss of use, and personal property coverage. This ensures you are not left out in the cold when loss or damage occurs.
Step 3 - Confirm the Agent’s Credentials
At this step, you should already have a list of prospective agents you are considering. The next thing to do is confirm their credentials. You should never take an agent’s word for it when it comes to their licenses and certifications. Take some time to do the research yourself to avoid fraudsters.
Ensure you weigh the agent’s credentials against their years of experience. An agent with only a few years of experience may be a Certified Insurance Counselor (CIC), Certified Risk Manager (CRM), and an Accredited Adviser in Insurance (AAI).
Step 4 - Consider the Agent’s Location
You need to start whittling down your list of insurance agents so you can settle on one. This process of elimination is how to pick an insurance agent. For starters, consider the agent’s location. It is best to opt for an agent in your area because you can always go down to their office if they stop responding. Additionally, some conversations are better to have in person.
If location isn’t a dealbreaker for you, prioritize other forms of communication instead. Does this agent have a working phone number? Are they reachable during working hours? Do they respond to messages on time? You should avoid insurance agents who are constantly unreachable as they may frustrate the process for you.
Step 5 - Check the Agent’s Reviews
You should check for reviews on the agent’s website and social media platforms. This will give you some insight into the quality of their service. It also helps you prepare for any potential issues you may have with the agent. An insurance agent with consistently poor reviews is not one you want to work with. You should also avoid agents that seem dodgy or pushy.
Additionally, consider checking the agent’s history through your state’s insurance department or the National Association of Insurance Commissioners. This way, you can see if any pending complaints or reports are filed against them. It will also help you discover their reputation in the insurance industry.
Step 6 - Ask for a Risk and Annual Review
A good insurance agent will not suggest insurance products without knowing your or your business’s needs. They should go over your risks and then search for policies that adequately cover those risks. If they don’t offer, set up a meeting with them and request one. This meeting will also help you uncover qualities that messages may not show.
The insurance agent should also not abandon you after you’ve gotten your policy. Instead, they should provide annual reviews of your risks and income to determine whether to increase or reduce your coverage. This ensures that you are not overpaying for insurance or underinsured.
Step 7 - Ask for a Quote
Ask for their quotes and coverage options further to reduce the number of agents on your list. Depending on the type of agent you choose, they may offer multiple coverage options or just one. Compare the policies they offer and decide on the most favorable one. Opt for extensive coverage that covers most of your risks without too many restrictions. You should also look out for the possible premium and deductible amount.
Step 8 - Choose an Insurance Agent
By the time you get to this step, you should have very few insurance agents left on your list. When you compare their quotes and policies, the best insurance agent should be clear to you. Finalize the insurance policy with them and start enjoying your insurance benefits
Conclusion
Insurance agents can make insurance shopping easier and faster for you, but only if you choose the right one. Don’t overlook the little details when trying to choose an agent. Look out for their location, credentials, and specialization. You should also check for reviews to avoid problematic or unreachable insurance agents.
While you can search for an insurance agent yourself, let a public adjuster handle the insurance claims process. On-Site Adjusting has a team of professionals who treat every case with care and attention. Reach out to us today for a free consultation.
