How to Really Get the Best Premium For Your Insurance Needs

This article explains the differences in insurance companies and provides some guidelines for customers to consider when searching the internet or multiple agencies for the best insurance quotes.

There are a few things you should be aware of when searching for insurance quotes in today’s market. There are your large corporations, the middle-level and private companies and businesses, which are usually an offshoot or subsidiary of large insurance companies. Finally, there are the independent agents who either work for their own agency or for small agencies. There are many levels of competition for a piece of the pie. Every level can offer their clients different perks.

Large/Corporate Insurance Companies

Large corporations are often the first to appear when searching online for quotes. This is because they have the resources and funds to rank first on Google, Bing, or MSN searches. These corporations are competing against other corporate companies to sell their products to potential consumers (you and me). To illustrate my point, I will use the best example: When you visit each insurance company’s site, you must fill out a survey or quote sheet detailing the insurance you are interested in to receive a price estimate specific to that company.

The positives of large companies are that they can offer very competitive rates and they are easy for consumers to find.

Negatives for large companies : They offer only rates or policies of theirproduct. They are impersonal and rarely have anyone to talk to about insurance.

Middle Level Companies

For discussion sake, the middle-level companies would look similar to the representative at the end your neighborhood with their corporate name next to it on the sign. These signs are what give large companies a face and a name to their product. These companies are far more personal. Customers can call or stop by to speak with an agent. This gives them a sense security and the assurance that they will be able to find the right person to help with any questions.

The positives of middle-level companies are that they are easy to locate; they have a name and reputation which is comforting to the consumer; you can talk with them face to face; their rates are comparable to what you would find online.

Negatives for middle-level companies: These companies often only sell insurance to one company and cannot offer policies for that product.

Independent Agents

Finally, there are independent agents and small private companies. These agents are independent from the corporate world and take on the insurance industry on their own. Agents can make a living offering perks that are not available to middle- and large-level companies. They can sell products for multiple companies by being independent. They can sell products to multiple companies across corporate lines. This is a good thing for corporates because they are willing to accept a small commission for the sale of an individual policy. However, the insurance company will still sell the policy. Independent agents have the advantage of being licensed with multiple companies and can offer the best rates for their customers.

The positives of independent agents. Independent agents are usually located in your local area. You can call them or drop by their office to speak face-to-face; they are able to find the best rate for their customers, generally due to their independence from large insurance companies.

The negatives of independent agents are that they can sometimes be hard to find among large and middle-level insurance companies and sites. They can also not be as familiar with customers’ names, so they may not be able to offer the same policies.