Featured Post for You

Think Renter’s Insurance is Only for Your “Stuff”? Think Again!

on
  Think Renter’s Insurance is Only for Your “Stuff”? Think Again! Clients often think they don’t need renters insurance — “Nothing I have is worth that much,” they’ll say, or “I don’t have a lot of stuff.” That’s how most people think of renter’s coverage: protection for stuff, and nothing more. After all, it’s inexpensive and it doesn’t even cover the structure itself. So how important can it be, especially if you don’t think you have anything valuable to protect? Plenty important, because you have more to protect than you realize. You just have to stop thinking only about “stuff.” Here are three key financial protections a renters policy provides: Loss of use coverage. What would you do if a fire or other issue forced you out of your home? You’d have to find a temporary place to stay, maybe even for months — which might cost you more than your normal rent. Loss of use helps cover that and other additional expenses. Personal liability protection. If someone trips and injures themsel
0

PJS Insurance Services - Broker, Agent, or Both? What is best for you is what saves you more!

on

 



Insurance agents and brokers

Insurance agents and brokers are licensed professionals who help customers protect their Auto, Home, & Life with insurance.

What is an insurance agent?

An insurance agent is a professional who sells an insurance company’s products to consumers for a commission. An agent helps consumers select the right insurance to buy, but represents the insurance company in the transaction.

There are two types of insurance agents:

  • Captive agents typically represent only one insurer.

  • Independent insurance agents typically represent more than one insurer.

Both captive and independent agents work on commission and can execute an insurance transaction from start to finish.

What is an insurance broker?

An insurance broker is a professional who represents consumers in their search for the best insurance policy for their needs. They work closely with their clients to research coverage, terms, conditions, and price and then recommend the insurance policy that best fits the bill.

Unlike captive and independent agents, who represent one or more insurance companies, a broker’s primary duty is to the client.

Since brokers don’t represent insurance companies, they can’t bind coverage on behalf of an insurer. They must hand over the account to an insurer or insurance agent to complete the transaction.

What is the difference between an agent and a broker?

There are two main differences between insurance agents and brokers:

  • Agents represent insurers, while brokers represent consumers.

  • Agents can complete insurance sales (bind coverage), while brokers cannot.

Agents also receive appointments to represent one or more insurance companies, but brokers do not. An appointment is a contract an agent and insurer sign that outlines the products the agent can sell and for what commission.

Brokers, on the other hand, can solicit price quotes from multiple insurers. But when consumers are ready to buy, they must obtain a binder directly from an insurance agent or the insurance company.

With PJS Insurance Services in Mesa Arizona, I have multiple companies that still offer great rates and coverage. Save more now with a free quote today or call me at (602) 750-0616


People are also reading



Location: Mesa, AZ 85206, USA

Comments

Post a Comment

Thanks for participating. Your comment will be reviewed and posted if appropriate to the discussion.