These days you see too many shops closing on high streets. It looks like they feel the squeeze from online sales. There are thousands of auto insurance quotes sites and almost every carrier offers them on its website. You cannot help but wonder how this affected brokers. They perform an important function especially in helping confused motorists. This post will look at their place in the system and compare advantages offered by various sources.
They are not the only source of multiple quotes and information anymore. Motorists can carry out searches on their own and get results directly or through other facilitators. You can read further on purchasing insurance online vs. agents. It is fair to say that most of them are capable of adopting and making the most of technological advances. There is nothing stopping them to start a website and sell policies or collect leads. Many of them are doing this already anyway.
You definitely don’t have to have an intermediary anymore to purchase coverage. And why would you use them if they turned into automated outlets. There is not much point in having an agent if he/she won’t take the time to listen to you and come up with insightful solutions. If they do pay attention and your requirements aren’t straightforward you would probably benefit from the experience.
So there is no need to worry about losing brokers who would be spending less and less time dealing with enquiries face to face. Probably customers wouldn’t want to make the journey to an office if they can find answers to questions on the Internet and can communicate with them electronically. This process may actually be good for everyone at the end. The natural selection process would weed out the lazy and incompetent ones. The rest would grow stronger than ever before and make themselves indispensable for at least some groups of drivers.
Do I Need an Insurance Agent?
People know a lot more about arranging coverage because most people need it and need to buy it semi-annually. That is why they can handle it on their own without needing someone to help. On the other hand, some other policies (like life) are purchased once or twice in a lifetime. Furthermore, they can be complicated to understand and arrange that you would most certainly benefit from an expert knowledge. There are so many other lines you have not even heard of before and they can only be bought through licensed brokers.
People have different level of reliance depending on the type of protection they need. You can easily and quickly buy straightforward policies like travel on the Internet. But you would need a specialist if you want to cover a neighbors’ home against subsidence because of a foundation you dug for your recent extension.
Different Types of Vehicle Insurance Intermediaries
It is worth mentioning here that not all the same. There are serious differences in the way they do business and most importantly the way they search for quotes. Here are two main differences;
Independent Insurance Brokers: These are the intermediaries who are totally independent in the way they do business and choose the source. They can approach any company in a given state and start selling their policies, if all agreed. Getting quotes from them extends the net automatically since they would be talking to various carriers.
They are able to offer the best deals to applicants thanks to wide networks they build over time. They are like a supermarket of policies. You are most likely to save more money and find better coverage if you are with an independent operator.
Tied Insurance Agents: These are the intermediaries who work exclusively with one particular source. Their advantage is that they are specialized on the products of the company they work with. If you have already made your mind up about which insurer to choose it may be better to approach their representatives on the high street.
A clear disadvantage they have is that they cannot shop whole of the market or even a few other companies. You really don’t want them if you are looking to compare all your options and save some money. Considering that you can compare quotes online quickly you may want to give it a go at least initially and decide if you would take the most competitive deal directly or through an agent.