There’s perhaps nothing quite so complicated as sifting through insurance policies, looking for one that fits all of your needs while still being affordable. In fact, for most buyers, locating a policy like that is just a pipe dream. Half the time, you’re settling for less with an overpriced policy and little coverage.
Well, say no more because those days are gone. By simply tweaking the way in which you purchase insurance, you can get better rates with better coverage — and far less hassle.
3 Ways to Buy Insurance in Wisconsin
- Direct
Today, many people choose to buy their insurance directly from an insurance company. Generally speaking, this is an insurance company that advertises widely, claiming they have the best rates in the country.
The problem is that the options can be overwhelming when it comes to any type of insurance — health, life, car, auto, travelers, etc. And in the end, most people don’t understand the intricacies of insurance policies. After all, it’s a full-time job just reading the fine print. People commonly miss glaring holes in their coverage, or they don’t notice fees that will later make their rates exorbitantly high. Buying direct seems less expensive at the outset because there’s no “middleman,” but this isn’t always the truth. A lot of individuals and families who buy direct end up paying more for their plans and having policies that don’t give them adequate coverage or limits.
- Captive Agent
Historically, buying direct was actually not an option. Several decades ago, the only way to purchase insurance was through what’s called an agent. An agent is an individual who lives in your local area and is licensed to sell insurance. But there are two different types of insurance agents.
The first type is called a captive agent. They are “captive” because they only work for one insurance company (for example, American Family). As a result, these agents only want to sell from that insurance company, and even if the rates are high and the coverage limited, if you go to this agent to purchase your insurance, they’re only going to sell you policies from the specific company they work for. You can see how this would get you into trouble fast if you don’t know your prices.
- Independent Agent
The second type of agent is called an independent agent. These agents differ from captive agents because they represent many companies, such as Safeco, Hartford, or Travelers. As such, when you choose to work with an independent agent, you know you’ll be getting a plethora of choices.
Moreover, independent agents care most about getting you a great deal. They can always provide a better value because they’ll be able to receive numerous quotes from multiple companies. Your chances are far better for finding a policy that meets your needs. Even though they do earn a commission (from the insurance company you end up purchasing from), with the value you’re getting, you’ll be sure to earn back that money.
Most of all, independent agents have freedom. Don’t like your policy after a while? Rates increasing? Cancel whatever you don’t like and return to your agent to find a better policy. There’s no need to switch agents. You can simply switch companies or policies/coverage.
Lastly, remember that you can get all of your insurance from an independent agent. Imagine that — you go in once to meet with your agent, and when you come out, you’ve got excellent coverage, great rates, and all of your insurance is taken care of.
Do your friends and family know about the benefits an independent agent can provide? It’s definitely advice worth sharing! And of course, don’t forget that at Feivor Insurance, we’re always here to serve your needs as a leading independent agency. For more information, give us a call or stop in to see us today!
