For first-time insurance buyers, the insurance landscape can be extremely challenging to wrap your head around. With so many policies on the market and so many people claiming to have the best rates and coverage, how is it possible to know what is true? Are all providers the same? If you are looking for help or can’t find a policy that covers everything you need, working with an insurance agency is definitely the way to go.
What Is an Insurance Provider?
An insurance provider, also known as an insurance carrier, is a company authorized to write and issue insurance policies. These providers are responsible for evaluating risks, setting premiums, and handling claims for policyholders. When you purchase an insurance policy, you’re entering into an agreement with a provider who promises to cover certain risks in exchange for your premium payments.
Since you pay money to a provider, you hope to have a close relationship with them and work together when you need help. However, this isn’t always the case since their goal is to maximize profit when possible. The negative associations that most people have in their minds regarding insurance involve insurance providers, not agents.
For consumers, the main takeaway is that insurance providers are the companies that create insurance policies and bear the financial responsibility for covering losses. While they are the ones to offer policies, they are not the first place you should look when searching for a new policy.
What Is an Insurance Agency? How is it Different?
An insurance agency bridges the gap between consumers and insurance providers. Unlike insurance providers who craft policies, an agency’s primary role is to sell insurance products. Agencies employ licensed professionals known as agents whose job is to guide clients through the selection of policies.
Most insurance agencies, like Anderson & Associates, work with many different insurance providers simultaneously. Rather than being restricted to the offerings of a single insurance provider, agencies can scan the market to find the most suitable policies based on coverage terms, price points, and the specific needs of their clients. You can find a full list of providers we work with here – when you need a policy, we scour these companies’ offerings to find the best one for your situation.
The Benefits of Using an Insurance Agency for Your Insurance Needs
Using an insurance agency offers a range of advantages, especially when it comes to personalization and convenience. Some of these benefits include:
Guidance: Agents provide advice tailored to each client, helping them find the best policy from a wide range of options offering differing terms of coverage and cost. Understandably, insurance agents have a better grasp on what types of policies are currently available and what might be the best option.
Access to Multiple Providers: Agencies offer a variety of products from different insurance providers, allowing them to compare and contrast plans to secure the best policy available in the market. If you go to each insurance provider one by one to get a quote, you will spend a lot of time and may not even find the best policy.
Consolidated Services: Agencies handle multiple types of insurance policies under one roof. This consolidation allows for streamlined policy management and enables agents to develop a holistic understanding of a client’s risk and coverage needs.
Convenience During Life Changes: Managing all insurance needs through a single agency simplifies the process for clients, making it easier to adjust coverage as circumstances change without coordinating with multiple providers.
When you need a new policy, contact the Anderson & Associates Insurance team and speak to one of our agents today. We are excited to learn about your insurance needs and leverage our experience to find the best policy for you.
