This thread got me to wondering why insurance agents are needed.
I use an independent insurer, yet I get my bills from the insurance company. True, my agent is great to talk to and all, and she’ll spend time looking for another insurance company to save money if I ask her, but otherwise I have no interaction with her/it.
I’m thinking that their benefit is in looking for insurance companies and trying to save their costumer money. Is that pretty much the gist of it?
(for full disclosure, I am a licensed insurance agent who has worked in the industry for 15 years, in proprerty/casualty and health)
For the most part yes. But there are other considerations. In the event of a claim, your agent will probably have more knowledge of how to get through the process then you will. They are likely to know what body shops are good, how to get you a rental quickly and other things.
They also know how the insurance company works and can fix issues for you faster then you likely could yourself. Like if there’s a mistake in your contract, do you know exactly who to call to fix it? Your agent probably does. Do you know who to go to for a billing issue? Your agent probably does. When your renewal comes up, do you know what discounts are available or how to negotiate a better rate?
For the average customer, agents are a good thing. I never use them myself because I don’t mind doing the work that they would be paid to do.
I had an accident recently. I called my agent, who told me to call the insurance company.
Maybe I just have a bad agent?
Depending on the accident, you may not need the agent. They can’t do everything, but are a good resource if you have problems dealing with the company yourself.
Good to know. Thanks.