LOS ANGELES, Oct. 15, 2021 /PRNewswire-PRWeb/ -- Compare-autoinsurance.org has launched a new blog post that presents the most important information drivers need to know about car insurance-broker agents.
For more info and free car insurance quotes, visit https://compare-autoinsurance.org/what-is-a-car-insurance-broker-agent/
Insurance-broker agents are insurance professionals who play the role of both an insurance broker and an insurance agent. They can work for either a single insurance company or a group of insurers. Their role is to explain insurance products to potential customers of a specific insurance company, then recommend the best insurance products for the needs of that customer. As a broker, the broker-agent can shop around on behalf of clients, recommending other insurance products based on the client's needs.
To better understand the role of an insurance-broker agent, consider the following:
- The difference between insurance agents and insurance brokers. Insurance brokers are professionals who recommend products from multiple insurance companies. The broker analyzes the customer's needs and options and then recommends the best policy options from different companies. The broker gets a commission when the customers purchase insurance. On the other hand, insurance agents are employees of a specific insurance company and they can recommend and sell products only from their insurance companies. Besides getting sales bonuses and commissions, insurance agents also get a salary. Insurance-broker agents play both of these roles. They can recommend products from a specific insurance provider, while also having the freedom to recommend products from other insurers. Some insurance-brokers are salaried employees of an insurance company, while others are contractors for a group of insurers. Some of them are even self-employed.
- The duties of an insurance-broker agent. Their duties vary among insurance companies. While some insurers call their agents "broker-agent" to get more customers, other companies hire broker-agents on a contractual basis to drive customers to their business. There are many broker-agents who are free of any contractual obligations and work more like a broker. These ones can recommend their customers products from different insurers without having a bias towards any specific provider. Other broker-agents work specifically with large companies to solve their insurance needs. Usually, these broker-agents specialize in a specific aspect of the insurance industry and they can recommend companies the best insurance products for their different insurance needs such as insuring a fleet of vehicles or covering hundreds or thousands of employees.
For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.org/
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