If you are about to start shopping for insurance, it may be confusing when you see the terms insurance “broker” and “agent.” Although the words are sometimes interchangeable, they have different perspectives on auto insurance. Let’s look at the differences between car insurance brokers in Lynnwood and vehicle insurance agents.
An insurance agent typically represents companies who sell insurance. These individuals present the information about insurance to a prospective insurance buyer. You can choose between policies and complete a contract for auto insurance through the agent. An independent agent can compare auto policies from several vendors but may not always have access to all the policies. A captive agent promotes insurance from one company.
An insurance broker generally acts for the insurance buyer. They are independent and do not have a contract with any insurers. Your broker will prepare your insurance application to the vendor on your behalf. Brokers can work with specific buyers or with certain industries and situations. Brokers will carefully evaluate your auto insurance requirements to help you find the best policy at an affordable price. This means that a broker must have comprehensive knowledge of all kinds of insurance products and the experience to deal with many types of insurance situations. There are sometimes fees associated with utilizing an insurance broker and premiums may be higher, but this is not always the case.
Before deciding whether you want to choose an insurance agent or one of the many informed car insurance brokers in Lynnwood, do your homework. The team at American Insure-All® is ready to help you find the best auto policy for your needs. Call us at (888)411-AUTO for a free quote.