We often get asked if insurance costs more with an agent. The quick answer is…no! It’s a common misconception that using an online insurance company, like Geico, would be cheaper but this isn’t the case.
The truth is, an effective insurance agent can help policy holders find cost-savings on insurance while also making sure each policy offers adequate coverage. When you buy insurance yourself, you run the risk of selecting inadequate coverage, at no fault of your own. Insurance coverages, regulations and policy guidelines are constantly changing. This is what makes working with an agent so valuable.
So when considering a “buy it yourself” insurance policy, make sure to do your research and select the coverage options you need. The biggest cost would be related to inadequate coverage after an accident that isn’t covered. Agents offer you a bit more peace of mind during this process.
Does Insurance Cost More With An Agent – Entrust Insurance Agency – St Clair Shores, MI
Video Transcription
“So I get asked from time to time, are they paying more for insurance because they have an agent versus an online company like say Geico or even Progressive, for example. And I would say no, because although it’s an expense to the company to pay the agent, every single company out there has overhead and a list of expenses. Insurance, not being a one size fits all type of product, means that that cost for every client is different through each and every company. So it’s really, really difficult to dial in and say that we have to pay an agent, so I’m paying X amount more because of their commission. In fact, I would say that most people actually pay less when they have an agent. And the reason being is they have somebody working there for them. It’s not a DIY type of thing. When you go online, and you buy it yourself, you select all your own coverages. So not only having an agent helps you save money because you have somebody that can monitor the policy and make sure the costs are where they should be. You also have somebody making sure that your coverages are what they should be, you’re not picking them out them yourself. And that agent, knowing the business can understand the important coverages that you need, and things that may apply to you that that you do or don’t need.”
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