In this internet age of immediate access to wholesale prices and discount merchandise, many consumers may be tempted to buy insurance the same way they buy music: immediately downloaded from the source. While with some purchases it can make sense to cut out the middleman, so to speak, insurance is not the same as a new mattress or a DVD. Would you dispense with a lawyer at a real estate closing? What if you’d been unjustly arrested? Expert advice is important and your independent insurance agent can provide that, along with a layer of protection you can’t get in any other way. We’ve spoken about the value of local, independent insurance agents before, but it’s always worth rethinking.
Most people realize that insurance can be purchased in three separate ways:
- Directly, from an agent of the insurance company
- From an internet or telephone agent who may represent several different companies
- Through an independent insurance agent in your community.
Purchasing directly from one insurance company means that you’re not getting any comparison to other policies that might serve you better. It’s not in the company’s best interest to steer you to another company, after all.
Internet and phone agents may represent several different companies, but they are not members of your community. Not only does this mean that they simply may not be aware of specific state and local conditions and laws, it also means that they are just not as accountable as someone you can visit at any time. If you’re purchasing insurance directly, you’re also directly responsible for the level of coverage you may or may not have. That can mean that you’re not covered when it counts, because no one can be an expert in every field.
A local independent insurance agent is an expert and is your representative. They are licensed professionals who know local conditions intimately. They can recommend the coverage that will keep you, your family and your property safe. It’s in their best interest to keep you happy and they can shop around several different companies to find the policies to fit you best. When your life changes, they can help you change your insurance policies to reflect your new circumstances. Your agent knows you and will recommend policies that suit your lifestyle. All too often, people shop for price and sometimes unknowingly sacrifice coverage, a point this writer for Insurance Agents magazine makes. How good is it to save a few dollars if you risk a loss that costs you thousands?
Your insurance agent can also help when you need to file a claim. They act as your agent and not for the company. That can offer a lot of peace of mind at a time when you may need it most.
Don’t have an agent? Here’s a list of New England independent insurance agencies.