+1 vote
in Insurance by
recategorized by
Is it better to buy from a broker, agent, direct provider (insurance company that sells without an agent) or insurance website?

1 Answer

0 votes
by
That depends on your shopping style. If you’re not comfortable on the Internet or would simply prefer to see the person you’re buying from in person, then you should focus your efforts on brokers and agents who have offices near you.

Conversely, if you prefer to shop online and avoid the extra time it takes to go to an office, then direct sellers and insurance websites will be most convenient.

Before choosing, make sure you understand how to get help if you have a problem, question or claim—it’s important to know that someone will be there when you need them. Also, if you use a broker, understand if there will be a fee,whether it is negotiable, and whether there will be future fees for renewals, policy changes, etc.

Generally speaking, you should avoid brokers who charge a fee for anything beyond the initial policy purchase. Broker fees are avoidable if you purchase a policy through an agent or direct seller (insurance company), but some brokers can offset their fee by shopping your application around to many insurers and getting the best rate.

Related questions

+1 vote
asked Feb 1, 2021 in Informatica by SakshiSharma
+1 vote
asked Apr 6, 2023 in Insurance by Robin
...