Captive agents may offer cheaper policies than independent ones; however, it will be difficult for clients to determine whether they're receiving the best value if only one option is made available to them. Captive agents may show the prices offered by competitors, but will be unable to sell those policies directly to clients. On the other hand, independent agents offer policy options from various insurers but may not always be seen as impartial advisors. Due to commission payments from insurance companies for new policies sold, insurance agents may incentivize clients to select policies with higher commission rates - creating potential conflicts between client requests and agent goals. The Allen Thomas Group .
However, there are other startup expenses such as creating an attractive website and buying computers and other technology tools. Depending on your business plan, you should have a minimum of at least $5,000 set aside in the beginning. You might even need as much as $50,000, depending on rent, furniture and other equipment. Estimate the potential revenue from the number of policies you'll need to sell to reach a break-even point. Of course, the amount needed for living expenses is a big factor as well. Lastly, do you have a wide group of social and business acquaintances in your community? That's an asset that'll help you grow. Most independent agents get involved in service organizations and nonprofit boards. However, many business and personal lines customers won't want to consider changing insurance agents until their annual policy renewal, unless they are experiencing a service problem. The insurance licenses you need to run an independent agency vary depending on your state. All states have different categories for these licenses and their own specific requirements.
An independent agent may present you with an insurance quote from an unfamiliar company but one that still meets your needs and offers the right insurance coverage for your family. While there are several potential advantages to working with an independent insurance agent, there are also some possible drawbacks. One benefit of working with a captive agent is they are usually experts on the company they represent. This means they know the policy types, coverages, available discounts and how to get you the best deal with the insurance company. Independent agents work with multiple insurance companies, so they may not be as knowledgeable about each one and their policy offerings. You may miss out on unique coverage or discounts because the independent agent wasn’t aware of it. Independent agents usually receive less support than captive agents because they are not partnered with just one company.
Working with an independent insurance agency offers numerous advantages, one being having them shop around for quotes on your behalf. As they have access to multiple companies' rates and coverage types, an independent agent can compare quotes quickly from various carriers at once. Information provided once saves time and can potentially save money as well. Independent insurance agents could know which companies possess the features that you are searching for - saving both time and potentially money in the process. As your policy comes up for renewal, be sure to inform an independent agent about any increases so they can shop around for better rates to help determine if it makes more sense to stay with the same insurance carrier or switch. Even if switching insurance carriers, your agent remains with you.
An independent agent is an insurance broker who represents various carriers rather than selling policies from just one. An independent agent acts as an intermediary, connecting buyers and sellers in order to facilitate transactions. Independent agents receive commissions for selling policies they sell without being considered employees of any particular insurance company. A captive agent, by comparison, may only sell the products of the insurance provider they work for. Independent insurance agents, like independent financial advisors, tend to offer their clients more choices when it comes to insurance products. Insurance agents take into account their clients' diverse coverage needs when selecting an affordable policy that offers appropriate protection. An agent that sells policies from only one insurance provider, known as a captive agent.
Now we have learned about evaluating an insurance agency's reputation and stability. With proper research and consideration, finding the right insurance agency for your needs should become much easier. Evaluating an insurance agency's reputation and stability is crucial before purchasing insurance. With so many insurance agencies in the market, it can be overwhelming to choose the right one. However, taking the time to do your research can help you find an agency that meets your needs and provides you with peace of mind. One way to evaluate an insurance agency's reputation is by checking their customer reviews online. Many websites offer reviews and ratings of insurance companies based on their customer service, claim handling process, and overall satisfaction.
Check out today's auto loan rates and drive with ease knowing you compared insurance carriers and found an appropriate policy - we are an independent, advertising-funded comparison service! At our mission, our aim is to assist you in making wiser financial decisions by providing interactive tools and calculators, publishing original and impartial content, conducting research for free allowing comparison of information between institutions - so that you can make confident financial decisions. Established in 2003, The Allen Thomas Group has long been recognized for helping people make sound financial choices. We've upheld our reputation over four decades by simplifying financial decision-making processes and instilling confidence among people regarding what steps should be taken next. Our insurance team comprises agents and data analysts.
Independent agents may present you with an insurance quote from an unfamiliar company that still meets your needs and provides adequate protection for you and your family. There can be numerous advantages and drawbacks of working with an independent insurance agent; one advantage of engaging a captive agent may be their knowledge about your company and products they represent. Insurance agents specialize in specific policy types and coverages; understand discounts offered by insurers; and know the best way to negotiate for a good deal from them. Independent agents work with multiple insurers and may not know as much about each one's offerings or policy offerings. Independent agents typically receive less support than captive agents due to being independent from one company and therefore more susceptible to losing out on exclusive coverage or discounts that might otherwise have been available to you.
While price shouldn't be the only consideration when selecting an insurance agency, understanding the financial implications involved in selecting a company is essential to making an informed decision. It's always wise to balance coverage with costs so that you won't find yourself overpaying for coverage. Some may argue that they don't see the point in paying for an expensive policy if they have never had an incident which required them to file a claim. However, peace of mind is priceless; you could end up paying much more in damages than the amount spent on premiums. Selecting an insurance agency should be approached like building a portfolio given that both require investments made with long-term goals in mind.
At The Allen Thomas Group, we believe in creating strong, long-lasting relationships with independent agents. Once appointed with The Allen Thomas Group, we’ll deliver what you need when you need it — because your agency is unique to us. The Allen Thomas Group's innovative telematics programs are easily adaptable to meet the needs of your customers and save them money. We have streamlined our process to get you an appointment decision as quickly as possible (you will hear back from us within 5 business days on next steps). The Allen Thomas Group the ability to quote, bind and issue at point of sale and an automated referral to an underwriter when needed. We provide independent insurance agents with access to top-rated markets, product training, and sales and marketing support–and we’re the only no-fee program of our kind! Home equity is the portion of your home you’ve paid off. You can use it to borrow for other financial goals. Life insurance doesn’t have to be complicated. Find peace of mind and choose the right policy for you. Boost your business with rewards, perks and more.
Captive insurance agents work for one insurance provider and are accountable for selling its products. Independent agents assist people in finding insurance policies, and as they don't work exclusively for one insurer but instead shop around among various carriers for policies to find customers the best value possible. As opposed to brokers of specific insurance companies who must sell policies offered by those same insurers that might not fit exactly what a customer needs, the best insurance agents understand both worlds. We work with more than 40,000 independent insurance agents and brokers at thousands of insurance agencies nationwide, so you're guaranteed to find one who understands your needs and can get you the best policy and price possible. Find an insurance agent nearby and introduce yourself.
The parent company will usually provide resources, training and support to captive agents, whereas independent agencies will have to use their own interpretation of companies’ materials to run their business, which could affect the quality of their work. While some large insurance companies will work with independent agents, some do not. So, while you will likely see a greater breadth of quotes from an independent agent, it’s possible that you might miss out on better coverage options or rates from a company that does not work with independent agents. If you don’t want to work with an independent agent or agency, there are other ways to purchase insurance:
They'll take it from there! Your experience begins with a simple conversation as your independent insurance agent learns more about you before suggesting suitable policies to fit your individual needs. Should an accident happen, The Allen Thomas Group offers comfort in the form of guaranteed repairs, accident forgiveness and an streamlined repair process. As your life changes, from moving into a new apartment, house, having more children or purchasing an RV, boat or motorcycle - your independent insurance agent is always there for you. Independent insurance agents provide more than auto and home policies; they also offer coverage options to cover motorcycles, RVs, boats, etc. No matter your needs or lifestyle stage, independent insurance agents offer expert guidance, tailored policies, and personalized service - discover more of their advantages here.
In conclusion, choosing the right insurance agency requires careful consideration of many factors. By doing your research and taking the time to evaluate different options, you can find an agency that meets your individual needs and provides peace of mind when it comes to protecting what matters most in life. Insurance agencies offer a wide range of services that cater to the different needs and preferences of their clients. These services include consultation, risk assessment, policy selection, claims processing, and customer support.
As you move through life — to a new apartment, house, a bigger family, a new RV, boat, or motorcycle — your independent insurance agent will always be there for you. Independent insurance agents offer more than auto and home insurance; they provide a wide range of options to cover motorcycles, RVs, and more. No matter what your needs are or where you're at in life, independent insurance agents can provide insurance guidance, customized policies, and personal service. Learn more about the benefits of an independent insurance agent.
That will be invaluable as you grow as an independent agent. Many independent agents join service organizations or nonprofit boards, as this helps their growth. Businesses and personal lines customers typically wait until their annual policy renewal to consider switching agents, unless there is an issue with service delivery. Insurance license requirements depend on your state. Before beginning planning for your independent agency, make sure you know what licenses will be necessary in your state and their individual requirements. Understand which types of licenses will be necessary before diving in too deeply to the planning process. Without proper licenses, your agency might not be able to sell insurance to families and business clients. At first, most of your efforts will likely go toward finding new customers; over time though, make sure you can continue servicing existing ones effectively. Retention in the insurance industry refers to holding onto customers.
Before selecting an insurance agency or policy, it's crucial that clients have a clear understanding of what types of coverage they need and what risks or vulnerabilities they're looking to protect against. This might involve assessing the types of assets they own, evaluating their current financial situation, and identifying any unique risks or challenges they face based on their lifestyle or profession. To give an example, a client who owns a home with valuable appliances and electronics may want to consider adding an endorsement that specifically covers those items in case of theft or damage.
We believe in building lasting relationships with our clients. When you choose The Allen Thomas Group, you become part of our extended family. Our agents are always just a call away to address your concerns and provide support when you need it most. Car Insurance: Protecting Your On-Road Adventures When you hit the road, you need more than just a vehicle; you need the peace of mind that comes with comprehensive car insurance.
A small insurance agency may have better customer service scores, better policies, and more competitive pricing than a large conglomerate. On the other hand, a large corporation may have more resources available for research and development or have better access to cutting-edge technology. Think of evaluating an insurance agency like hiring an employee for your business—their reputation, experience, and background matter just as much as what they are offering you in return for your investment. Service is another essential factor that can determine an agency's reputation and stability.
Mission of NAACB: to offer support for independent agents and brokers by offering membership benefits such as educational tools, informative publications, networking events and networking resources. These associations also act as advocates for independent insurance agents by working closely with insurers, state insurance departments, the federal government and other stakeholders to maintain a stable and profitable marketplace. Independent agencies benefit greatly from the combined efforts of the Big "I". When starting up an independent agency, membership of the Big "I" can offer many advantages; here are just a few benefits for startup independent agencies. Independent agents are essential partners in finding quality and affordable coverage; similarly, independent agencies have in The Big "I" as an ally when it comes to running an efficient operation. Signing up in your state is simple! Simply complete the online form to begin, with pricing varying by state, agency size, and revenue. Should any issues arise or if any questions arise, The Big "I" will always be there to assist.
These websites can give you insights into what current customers think about a particular insurance agency. This information can help you determine if the agency is reliable, trustworthy, and has a good reputation. Another way to evaluate an insurance agency's stability is by looking into their financial strength rating. An insurance agency's financial strength rating indicates its ability to pay claims. Insurance agencies are rated by independent rating agencies such as A.M. Best or Standard & Poor's. These rating agencies assess the company's financial health by analyzing several factors such as liquidity, profitability, and capitalization. It is essential to choose an agency with a high financial strength rating to ensure they can fulfill their obligations when you need them. Some people may argue that the size of an insurance agency dictates its stability and reputation; this is not always the case.
Successful independent insurance agencies strive for a balance of high retention and new sales. Independent insurance agents make an average of 10% to 12% in commission per insurance policy they sell. So, if an agent sells one car insurance policy with an annual premium of $1,000, they will receive $100 to $120 annually in commissions. Home and business insurance have similar commission levels. To receive policy discounts for the customer, many independent insurance agents try to “bundle" car and home insurance policies with the same insurance company. It's a win-win for the customer and the agent when policies can be bundled to the customer's advantage. In short, successful independent insurance agents can make a comfortable living while serving their communities.
The Allen Thomas Group's car insurance solutions are tailored to your unique driving habits and needs. Here's what sets our car insurance apart: 1. Coverage That Adapts to You Whether you're a daily commuter, a weekend road-tripper, or a parent chauffeuring kids to school, our car insurance coverage can be tailored to suit your lifestyle. We understand that each driver is different, and we take pride in creating policies that reflect that diversity. 2. Protection Against the Unexpected Accidents happen, and when they do, you want to be prepared. Our car insurance covers you in case of collisions, theft, vandalism, and more. You can drive with confidence knowing you have a safety net in place. 3. Affordable Premiums We believe that quality car insurance should be accessible to all. Our agents work diligently to find you the best rates without compromising on coverage. You can trust us to provide you with a policy that fits your budget. 4. Additional Benefits Beyond the basics, our car insurance policies may include additional perks like roadside assistance, rental car coverage, and more. We go the extra mile to ensure you're protected in every scenario.
They are also able to offer similar insurance products across a broad range of companies. Captive agents work with just one insurance company, offering only the products offered by that specific company. There are several potential advantages to working with independent insurance agents vs. captive agents. Working with an independent agent usually does not cost anything and can save the customer time by allowing the agency to shop for quotes from multiple insurance companies. An independent agent may be able to find a better deal for your insurance needs than you can. Ultimately, you will need to decide if these and other possible advantages are beneficial to you.
Their focus lies on what consumers care most about - price, customer service, policy features and savings opportunities - so you can feel confident choosing which provider best meets your needs. ATG has answers. Over two decades, our experts have been helping consumers successfully manage risk. We strive to equip consumers with expert advice and tools needed to navigate life's financial journey successfully. We strive to be open about how we're able to provide high-quality content, competitive rates and useful tools at reasonable costs by outlining how we make money. Finding car insurance may seem complicated; one way people can simplify this process is through speaking with an independent insurance agent. Independent agents are licensed to sell insurance from multiple companies rather than being direct employees of only one.
At The Allen Thomas Group, we are committed to offering you multiple insurance solutions that meet the most cost-effective requirements and standards suited for you. As an independent agency, we provide a full array of products including automobile insurance, homeowners' and business policies as well as life and health plans from multiple carriers that best meet each client's individual requirements. Give us a call or use the quote form button above to discover more of our insurance solutions. We look forward to speaking with you! If you are shopping around for new coverage but unsure where to begin, start with us and you won't look further!
Business Insurance: Nurturing Your Enterprise Running a business comes with its own set of risks, but with The Allen Thomas Group's business insurance, you can focus on growth while we handle the protection of your livelihood: 1. Tailored Business Coverage From small startups to established corporations, our business insurance solutions are customized to meet the unique needs of your enterprise. We provide coverage against a range of risks, including property damage, liability, and more. 2. Risk Mitigation Minimizing risks is vital for business sustainability. Our insurance experts analyze your operations and industry to identify potential risks, allowing us to implement strategies that protect your business. 3. Competitive Pricing We understand that businesses need cost-effective solutions. The Allen Thomas Group ensures that you get the coverage you need at a price that aligns with your budget, helping your business thrive. 4. Business Continuity In the face of unexpected disruptions, our business insurance policies provide a safety net that ensures your operations can continue running smoothly. Don't let unforeseen events jeopardize your business's future.
Aside from offering personalized customer service and their knowledge of companies and policies to guide them in the right direction. Most independent insurance agents work solely on commission, earning a percentage of your premium amount as payment. Therefore, it is in their best interests to ensure their clients remain happy. Independent insurance agencies can work with all sorts of companies, from smaller insurers to major entities like The Allen Thomas Group.
Founded in 2003, The Allen Thomas Group has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Our insurance team is composed of agents and skilleddata analysts. They focus on the points consumers care about most — price, customer service, policy features and savings opportunities — so you can feel confident about which provider is right for you. You have insurance questions. ATG has answers. Our experts have been helping you master your risk management for over two decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Secure your home and possessions against unexpected incidents with tailored homeowners insurance coverage that's tailored specifically for you. Your independent insurance agent can also offer options from other companies, including business insurance, commercial property insurance, life and health insurance policies as well as umbrella, classic car and more. Be it starting a business, expanding your family or increasing financial assets - your agent will always have suitable insurance solutions available that meet the changing demands of life.
The insurance company does not obligate you to accept their settlement offer. In some cases, accepting an offer immediately could be harmful as it might not cover your losses and injuries.
A good driving record is one of the best ways you can keep your auto insurance rates down. Compare prices. Compare insurance rates before you purchase a vehicle. ... Ask for higher deductibles. Reduce the coverage for older vehicles. Purchase both your auto and homeowners coverage with the same insurance company. ... Keep a high credit score.
The majority of insurance agents are paid by commissions. The amount of the commission depends on several factors, such as: What type of agent they're. The type of insurance policy. The number of policies sold.
Amount you pay before your health insurance plan begins to pay. You pay for the first $1500 in covered services, if you have a $1500 deductible. You usually only pay a copayment after you have paid your deductible.