As an independent agency, we have many options and companies to work with. Ultimately, this provides a great benefit to our customers – one advisor/professional to work with who has dozens of companies to choose from to find the best coverage and rates for you. First, the customer needs to decide what is most important to them when choosing an insurance company. Some factors to consider are as follows:
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Claims Service – Yes, different companies have different levels of claim service. Some companies make the process very easy and provide great support during the process; however, other companies pay claims begrudgingly and can make the process painful. This is one of our highest priorities when choosing a market for you because a successful claim settlement equals a happy customer.
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Price – Price is a dominant force in our industry and is usually a consumer’s top concern. Price does matter but it is important to verify that other factors are not being omitted to create a lower price – specifically coverage (amongst others).
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Coverage Options – Do you have a unique risk exposure? Does the company you have your insurance with offer all the coverage you need? These are important questions to consider when electing to place business with a company.
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Deductible Options – Many companies are increasing home deductibles and limiting deductible options. If the company you’re with doesn’t have a suitable deductible for you, it may be worthwhile to ask your insurance advisor to explore other options.
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Size & Financial Stability – As an independent agency, we represent small, local mutual companies to Fortune 100 companies. Size does matter – to a point. It’s important that the company you’re with has enough capital surplus to cover any catastrophic events that may occur. Furthermore, it’s important that the company allocates enough resources to critical functions of the company (i.e. customer service/support, claims, underwriting, etc.). With that said, bigger does not always mean better. We represent some regional companies that are AM Best A+ rated (financially stable) and provide good service, claims service, and pricing (if not better).
As always, it’s important to discuss these factors and any other factors that may apply to you with your insurance advisor to provide the best fit for you. Every individual and family is different and subsequently, has different needs. As an independent insurance agency, we feel that our flexibility and options provides a massive competitive advantage and most importantly, the best options for you.