Frequently Asked Questions
What is an Independent Insurance Agent?
It is important to understand the two primary types of insurance agents: Captive and Independent.
A captive agent is one that work for and represent a specific insurance company and primary sells policies for that company. An independent agent/broker works for you and searches from several different insurance companies to compare to find the company that has the coverages to fit your needs as well as the premium that you would have to pay.
What’s the difference between an insurance broker and an insurance agent?
Insurance agents typically work for the insurance company, or as a representative of them. Brokers are independent workers who represent buyers and study the market to help clients get the best insurance products. Agents are typically reimbursed through a commission structure with the insurance company that they sell policies for. Brokers are also paid on commission from insurance companies, but they may also charge additional fees to customers which must be approved by each customer before the broker can collect.
Agents can write policies and secure coverage for people. Brokers simply submit applications and take care of the paperwork and approval process for clients, with the policy underwriting and coverage approval being the responsibility of the insurance company that is providing the coverage.
How much does [auto, life, home, etc.] insurance cost?
Here’s the million-dollar question, if there is just one, in the world of insurance. Everyone wants to know what they’re going to pay for insurance. Rarely do they realize that it depends on so many variables that there’s no way to do it than to get a custom quote. Sure, you can estimate and consider the national average, but you’ll also have to factor in your specific circumstances and other relevant details.
That’s why it’s best to work with an insurance brokerage to ensure that you get the best coverage at the most affordable rate, no matter what type of insurance you need.
When do I need workers comp for my employees in the state of Missouri?
In the State of Missouri: Link… https://labor.mo.gov/dwc/employers/insurance
How much life insurance should I buy?
You will find a wide variety of answers to this question. Some as simple as taking your income and multiplying by a certain number to get a value. The answer to this question is that there are many specific factors that go into how much life insurance you should have. Do you have children, are you married, how much debt do you have, what is your income, and would that income need to be replaced for those left behind to pay the bills?
Those are some of the core questions that need to be answered. There is no cookie cutter answer to this question, the best way to approach this is to figure out what is correct for your life, also make sure if life changes to review and update if needed. Also, think about what type of life insurance is right for your needs.
Qualified Insurance Brokers
Over 10 Years of Experience
Certified
