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Whether to consult an Insurance agent or broker

Many people are familiar with insurance agents. But an insurance broker could help you get the best service as unlike insurance agents, insurance brokers do not work for an insurance company. They are experienced in different types of insurance and risk management.

Brokers may focus on one particular type of insurance or industry, or they could provide advice on many types of insurance. They provide services by identifying the individuals, their family, their needs and the liability risks. And they have access to many policies offered by various companies; not just a few policies offered by a single company.

So, for most consumers and business owners, using an insurance broker is usually preferable to buying insurance through an agent or purchasing insurance on your own. Pembroke insurance brokers
( http://www.egminsurance.com/ ) can also give you the satisfaction knowing that you are adequately insured against all potential liabilities.

  1. callisy1 month ago


    Your agent or broker should provide you with a compensation disclosure statement that outlines the types of commissions the agency or brokerage receives from its insurers. This document should state whether the agency or brokerage receives base commissions only, or if it also receives contingent commissions. Some insurers sell policies directly to insurance buyers without using agents or brokers as intermediaries. These insurers are called direct writers. Many direct writers focus on personal coverages like homeowners and personal auto policies. However, some also offer commercial coverages to small businesses. Agents and brokers that sell life insurance also earn commissions. However, a life agent earns most of the commission he or she makes during the first year of the policy. The commission may be 70 percent to 120 percent of the premium in the first year, but 4 percent to 6 percent of the premium for a renewal.

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