What You Should Know About Car Insurance Agents

Often considered the link between policyholders and policy providers, auto insurance agents secure the selling of coverage. They present the offers of one or more companies and if you agree, they will give you a contract to sign. Read our blog to find out more about car insurance agents and visit our website if you want to get car insurance quote.

The first thing you should know is that there are two types of insurance agents: captive agents and independent agents. The second category is also referred to as brokers.  Captive agents work for a specific company, while the brokers work with multiple agencies. There are advantages and disadvantages for each type of agent. For captive agents, the main advantage would the vast knowledge regarding his company’s policies, discounts and extra benefits. However, a captive agent can try to convince to sign for his company by presenting the offer is a “better light”. Brokers can provide quotes and offers for multiple companies, but they are not so intimately familiar with each company’s pros and cons.

Independent brokers usually work on commission, while captive ones are generally paid a salary. Common duties for an agent include contacting potential customers, providing information on different policy types, customizing policies to clients’ coverage needs and budget, maintaining records, renewing current policies, and assisting with claims.

Auto insurance agents are employed full time. They can work flexible hours and meet with clients in the evenings and on weekends. Auto insurance agents, especially those who work independently, can complete administrative and marketing tasks around regular work hours.

Depending on the company, a high school diploma may be sufficient to be hired in an auto insurance agent position. However, a bachelor’s degree program with coursework in finance, business administration, economics, sales, and public speaking is something every insurance company prefers from its employees.

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