Insurance Agent Personality

Have conversations with potential agents. Explain your situation and ask for a budget. Just asking doesn’t mean you have to work with them. This is an opportunity for you to get a feel for how they work and if you are comfortable with them.

There are 2 types of Insurance Agents:

A. Independent Agents – These are individuals who own a small business that represents or is affiliated with multiple insurance companies.

B. Direct Insurance Agents: A direct insurance company sells directly to you without an agent, usually online.

Better choice:

Go with the independent agent, as they have the opportunity to offer you the best price and coverage for your needs. They have all the data that they can compare between insurance companies. They sell a variety of insurance and financial products, including property, life, accident, health, disability, and long-term care insurance. They are your one stop shop for insurance needs.

2. Credentials

A knowledgeable insurance agent can provide advice when deciding what coverage and limits a client needs to protect their family and investments. A credentialed insurance agent has certification of professional qualification, authority or competency, and assurance in the field of insurance industry.

Nice to have:

• CFP – Certified Financial Planner.

• CLU – Authorized Life Insurance Underwriter

• CPCU – Authorized Property and Casualty Underwriter

• ChFC – Chartered Financial Consultant

• PFS – Personal Finance Specialist

• CIC – Certified Insurance Counselor

• ARM – Associate in Risk Management

License

Before buying insurance from an insurance agent, make sure the agent is licensed to sell insurance. It’s like a patient seeing a doctor and the doctor must be licensed before they can provide prescriptions. Every state requires insurance agents to be licensed to sell policies. Some states require separate licenses to sell property and casualty insurance versus life and health insurance.

3. Customer feedback

While checking to see if the agent is licensed, also check to see if any complaints have been filed against them. For the company, you can check the NAIC’s CIS or call your state insurance department. The insurance department can also let you know if any complaints have been filed against the agent. You can also check with the Better Business Bureau to see if any consumers have filed complaints — or praise — about the agents you’re considering.

4. Ask questions

It’s okay to ask questions when looking for an agent. In fact, you should be asking questions when deciding who you want to work with. Some good questions are:

• What are your areas of specialization?

• What is your reach? Are you local? In the whole state? On a national scale?

• What is your experience in my industry? How many years have you been underwriting this type of insurance?

• Do you have customer references?

• How long have you been in business?

• How many companies do you represent? Which?

Of course, there are many factors to consider when choosing an insurance agent. Take note of the most important things when trusting someone to provide you with the best coverage for your business needs. You always have the option of changing agents, but it’s much better to do your research beforehand to find the great insurance partner.